This is one cool hotel, really. It's modern and very nicely designed, staff is super-friendly and helpful, from check-in (when they welcome you with a cold drink) to check-out (they called a taxi for me).
The room was VERY comfortable, and I know what I'm saying - I have trouble sleeping on the usual hard beds that seem to be so popular in Thailand, but this bed was perfect. Just make sure you get a window in your room and everything will be great.
Everything is spotless and the cleaning staff does extraordinary good job.
Location is really good - 500 m to Sukhumvit, which is the main street in Bangkok, and maybe next 500 to BTS (skytrain) station, which will take you around the city. Great starting point to explore Bangkok.
As other reviewers observed, soi 33 is a bit 'naughty' street, with massage parlors like "Love teen massage", but it's not like they grab you by your throat. I wasn't interested and didn't feel uncomfortable there. The area is safe.
I have only two problems with the place - the first one is breakfast, it's extremely basic and after two days you'll have enough of it. The second one - the hotel laundry service is insanely overpriced. I know that's how it is in hotels, but when they want to charge you 60 baht (2$) per t-shirt, and the going rate in town is 50-60 baht per kilo, than, I'm sorry, but that's a ripoff.