The hotel is new, very neat and interestingly designed - I thought the minimalist, warehouse theme was quite fun, even though it meant that the bedside tables are basically made of (polished) pallets etc. I appreciated the firm, new mattresses on the beds, since there's few things that will ruin my sleep more than a soft squishy mattress. The rooms were reasonably quiet, a little bit off the main tourist areas, but still easily reached within a short walk. (It's less than 10 minutes by foot to Khao San Road.)
The staff was friendly and helpful; they even served us breakfast even though we were some 20 minutes late. :) The breakfast itself was okay, but could have been a little better - I missed the otherwise omni-present fruit, but other than that, there was everything.
The free wi-fi was a little bit weak (though still okay) up in our room, but that is nothing unusual in Thailand, I suppose.
We stayed only 1 night at this hotel, but we were happy with our stay there. I definitely recommend it, though I'm not sure if it's quite worth the 44€ (for a double room with breakfast) when booking online. I think you might be able to get better prices directly at the hotel. ;)