Centrally located about 200 feet from the Gran Via and another block to Plaza de Callao. There's a small Careforre market down stairs and about a dozen restaurants and cafes on the way to the Gran Via.
The cons:
-room with single bed is pretty small
-terrace is small and I needed to be standing (decent view of Gran Vía)
-shower is small (need to get creative to lather legs and feet)