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Details: Furnished, street level, quiet neighborhood, central, 250 € a month.
The flat is 60 square meters, shared between 3 people.
The way it's been working in the past 2 years is that there is no proprietary space, we use the rooms a bit like we feel. But since there are three rooms (for 3 people), it is always possible to have some time on your own.
Location is pretty good. U Reeperbahn. There's a StadtRad station two blocks away, a good choice of markets and supermarkets. 10 min walking from the red lights or Fischmarkt or Schanzenviertel ; and pretty much everything in Hamburg is withing 20 min bike reach. The Elbstrand (beach) in particular is within walking distance (but a good 20 min).
Given the location and the size, the price is extremely cheap. The reason why is the way we share all the space, which allows us to live 3 people in 3 rooms and still have some common space. And it's been working pretty good in the past 2 years.