Let me start by saying that I would definitely stay here again. While the apartment was beautiful, and as advertised, there were a few small glitches that took away from our otherwise wonderful experience. I normally reserve a 5-star rating for a perfect experience, so if I could, I would give this property 4.5 stars, but I am erring on the side of the positive, since this is such a wonderful apartment.
Plusses: this is the perfect location for a short or extended stay in Jerusalem's Old City. Steps away from the Hurva Synagogue's square, you are close enough to all that Jerusalem has to offer (the Wailing Wall, the Cardo, the Temple Mount, museums, shops, restaurants), and its throngs of joyous visitors, yet far enough from the throngs to have tranquil moments in this beautiful apartment, enjoying the piano, the Apple TV, the truly high-speed Internet, and the cute balcony overlooking all the action.
The price is quite reasonable - compare the price of this property with staying at a high-end hotel, and you will realize that you get tremendous value for the money. Want to eat out? No problem - there are plenty of fine restaurants in the Old City, and you are a short walk from the Mamilla Mall. Want to eat in? The kitchen is fully equipped for cooking, with western-style appliances. This apartment is most definitely comparable to a mid-to-high end hotel in Jerusalem, and far cheaper when you consider the vast space and amenities.
As others have reported, the main bathroom is not "ensuite" to the master bedroom- rather it is accessible via hallway to all three bedrooms in the apartment. We travelled as just a couple, but a whole family might have some coordination challenges (there is another toilet-only bathroom off the kitchen/living room area down the hall).
Stairs to get to the apartment: we don't travel light, and while we had an inkling that there were stairs to get to the apartment, we didn't realize how many. Unfortunately, our cab driver couldn't leave his car to get our bags up (and down), so we had to carry the suitcases ourselves (though the property manager did gamely offer to try and carry them). I counted the stairs: taking the shortest path from the Hurva plaza to the apartment, you have to climb 38 stairs. If (and when) we rent this apartment again, I may be so bold as to offer one of the many yeshiva students walking by some shekels to carry our bags up and down the stairs. If you're not carrying bags, the 38 steps (really just a few short flights of stairs) is no big deal. Even coming with a moderate grocery load is also doable.
Other small items: we had some technical challenges with the shower when we first arrived, but these were resolved within a few days. Also, we were there for over two weeks, which I imagine is longer than the typical stay. As a result, there were some challenges faced by the cleaning crew when they ran out of linens to change sheets (I heard today from the manager that this problem will be resolved for future guests).
Finally- there was a small mixup regarding checkin time. Our flight from the US arrived very early in the morning, and while our "early" arrival was ultimately accommodated (and we had warned the property owner of our early arrival when we made the reservation), there was some initial pushback, claiming that the property's website says that check-ins must be in the afternoon. I check the FlipKey and TripAdvisor websites and couldn't find mention of the "official" check in time. In any case, the very nice manager Adi did meet us that morning, and juggled her schedule to make the early check in possible. Advice to future renters: make sure you are very clear regarding when you expect to arrive.
Bottom line is that this is a fantastic apartment - I would stay here again, and indeed hope to do so before long!