Our stay at this luxurious 3 bedroom apartment was quite break taking with ocean view from the master bedroom's balcony and living room. The bedrooms were spacious and the whole apartment is tastefully furnished.
The caretaker of the apartment was very help and also picked us up at the airport on our arrival.
The location of the apartment was convenient enough if you do not want to stay at the city center. It's about a 10 minute drive to the heart of the city and very close to popular beaches. There are quite good restaurants in Funchal itself and also the hotel across the apartment is well recommended.
The only disadvantage I can think of is, that you cannot be without a car in this area, however there is a bus station just outside the apartment.