We stayed there for 6 nights ($280 for 2 people) for a room with shared bathroom and liked everything about the place:
it was clean, cozy and quiet at night;
free Internet at your disposal whenever you want it, with different ISQs and Skype installed;
nice kitchen with big TV;
washing machine in the bathroom (very old though),
location, next to the metro/pubs/embankment.
They also arranged a transfer from/to the airpost for 3000 HUF (~$14) each way.
The guy who is in charge (Liam from USA) lives there, so whenever you need something, you can just knock on his door and ask. He`s very friendly and helpful.
Directions: 5 minutes walk from St Paul Basilika.
Roosevelt Ter 5-6, Budapest
Erzsebet krt 43-49, Budapest
Bem rkp. 11, Budapest
Erzsebet Ter 7-8, Budapest
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