Reydel Hotel

very helpful and welcoming staff, knew english very good, told us info about attractions and places around the hotel. They had the cutest kitties ever <3 The location of the hotel is perfect if you want to have fast access to the old town (sultanahmet) and the newer areas (european and asian sides). In just 5-10 minutes of walking you can find the Eminonu area where the Spice Bazaar and the adiacent bazaar lies. Here you can find lots of food, coffee, deserts and anything you could want. Near the hotel you can find a small market A101 that accepts card payments and several other local shops and "restaurants" that offer nice food for a lower price (don't be blocked by the fact that they look unkept or very old).

If you want to have access to places where you can drink beer or any alcoholic beverages at a restaurant then you should consider getting accommodation on the european or the asian sides of Istambul. The Fatih area and Sultanahmet are considered to be more conservative, so you won't really find bars around (and if you do, the alcohol will be expensive).