Well located, easy to find, better then on the pictures (except for the terrace, the terrace is the only thing that does not match the pictures). Wonderful bathroom, rooms are spacious enough and nicely decorated.
Albatros is simple but nice. You get what you pay for so don't expect too much. If you have a problem with your room, simply ask to be changed and they will do it. Our first room was very nice until we went to use the shower which was horrible and flooded the entire bathroom. We didn't have any hanger and had to ask three times to get them and finally got them when I refused to leave the front counter until I had them and he had to search in three rooms to find them. Buildings in Istanbul are jam-pakced together so it was no shock when we were right next to construction on a new building that awoke us each morning. Breakfast is the same every day... bread, slices of meat, cheese, and vegetables. They claim they have internet, but don't plan on it working (it is only strong enough for Skype). In fact the connection password seemed to change quite frequently and we had to constantly ask for it, which was a bit strange. The staff is nice and they do try hard.
All in all... not bad. Again, you get what you pay for and for a budget traveller, this is a good place. Just know what you are getting in to. It is definitely better than a hostel.