I cannot recommend this place. The terrace was not furnished as advertised and given the general uncleanliness and wear of the space, the photos are far from reality. Your hundreds of euros are much better spent on a different place. The beds are ok but the couch in the small living room was still wet and with massive stains. One bedroom has a large yellow stain that comes from the ceiling and may be a source of odor. All of the bedroom door handles are noisy which wake everyone up in the morning. The apartment is in need of maintenance.
As for location, it’s not directly on the Gran Via but regardless, I suggest getting a few blocks away from this area as it’s not the prettiest. For example, there is a strip club right near the base of the building. Not pretty.