Pros
Very flexible hours, opportunities to work from home. Your time can be flexible so long as you get your work done and meet deadlines. Appealing to people with families. The partners are very generous with their long time employees regarding their time, bonuses and wages. Generally a very warm and family like workplace.
Cons
Projects aren't very interesting, landlord and commercial work. Rarely ground up construction and the work can become redundant, with a lot of projects just becoming rehashes of similar jobs with different interior elements/finishes. It's not a large firm, so things like HR and corporate structure are non existent which might be a red flag to some. The first year at the company is very "sink or swim" but generally if you make it past a year or so you're role and how it flows in the company becomes clear. Because it's a small team, occasionally you will have to do things you aren't necessarily qualified for. The partners avoid hiring juniors so you often have to carry out tasks that a junior employee would have to do, even at a more managerial/senior/intermediate level. On the architectural side things are pretty clear cut and conditions are good, interiors are another story...