Looking for a Lisbon Hotel

Are there any suggestions for a Lisbon hotel, $150 per night or less. Less is better. Has anyone any information about the Penseo Residencial Alegria? It is located on the small Praca da Alegria, just one block west of Avenida Liberdade. This is a little further north than many of the hotels recommended by RS. It is a 35-room hotel run by a family and seems to have some charm. The double rate for this hotel is 71.75€. Also I am somewhat concerned about safety in Lisbon at night. This hotel has a small police station next door. I am open to suggestions for safe areas.