Central hostel, at the bottom fo the shooping main street with shop, bar, restaurant ...
The hostel have a great commun space, with a bar.
Loft is the cleanest, most comfortable, and friendliest hostel that I've stayed at. I have been there twice already, and it will always be my home-away-from-home when I am in Reykjavík.
A cool place but not suitable for families. Away to noisy and in the evening it's impossible to seat in the lobby cause it's packed with people and activities. The kitchen is very small, not clean and there isn't enough space and utilities for all the guests.
The location is perfect but we had to spend a lot of money on parking.
Location is amazing! Very centrally located, and everything within the city is walking distance. Hostel itself had great vibes, very positive and relaxing experience.