Lorenzo's place is in a very hip and up and coming district. It's an easy 10-12 minute walk to most of the main attractions (Puerta del Sol, Palacio Real, Plaza Mayor), the best restaurants, and is super close to all the shopping you might want. The museums and park are further south but easy to get to by metro/cab. The place itself is clean and well-furnished. A taller person might have issues with the lofted bed, though I'm 5'11" and had no issues.