We stayed at Alice House for 3 nights in September 2004. Although it was conveniently located (walking distance from the Santa Maria Novella train station and major attractions), the room was charming but on the 4th floor no elevators and too close to San Lorenzo Market.
When the market closes around 7PM, they roll their carts on the cobblestoned street to stow them away for the night and this lasts until 10PM. At 4AM, they start their day rolling their carts out for the opening at 7AM. So let's say that ear plugs are definitely a must.