We stayed at Eden Roc in March and got a 3 bedroom "suite" for $87 a night. While the price was right and there are very few options for 3 bedroom places within walking distance, the hotel was terrible. We knew going in that the hotel was going to be bad so we thought that we had prepared ourselves properly, but it was even worse than we could have imagined. This truly is just a place to rest your head, a creppy, dirty, old place.
If you need 3 beds and are needing the cheapest option go for it, but I would suggest paying the extra money to stay somewhere else.
Also the walk seemed to take a long time, maybe because I had 4 kids 5 and under to drag along with me, but for being right across the street it didn't feel all that close.