I have stayed in many average hotels in Istanbul near touristy areas, but I chose the location because it was close to a meeting and it turned out to be the best yet! If you want to stay in Ortakoy, I highly recommend the Symbola: definitely a boutique atmosphere, beautiful comfortable clean rooms, attentive charming staff, a few minutes walk from the Ortakoy strip, free internet, breakfast made to order in their tiny restaurant...just great!! I was there in November but in the summer, I imagine their plentiful outdoor terrace/garden seating is quite lovely. One note: there are some stairs in the hotel and hills to walk to Ortakoy, so this isn't the best option if that's a problem.