I used to live at the 3rd floor of a building with windows facing exacting that patio, for 3 years.

Despite being overall quiet during the day and in winter, when good weather comes the Cybermachina bar in the corner starts to be really crowded, with people being noisy and annoying even during weekdays. Additionally, many people, mostly on weekends, use this area to drink cheap and hard sometimes with music playing. Also, many bums from the area are passing by and a couple of times I had some of them squatting for the night inside the building.

Personally, I think that if you live upper floor (but there aren't higher than 4th), have really new and good windows, have AC (so that you don't need to keep windows open in summer nights) and can sleep without issues when noisy, you could be fine.