This place is all about location. Walk north just a few blocks and you're in the heart of Chueca and Malasana. You're also steps from Gran Via which feels like a mini-Manhattan and which is great if you like to have a (very) late dinner.
The place is small, but comfortable. You can close the windows to block out all the street noise, and the shutters to block out the light.
Even though I was satisfied overall with the place, I do have two criticisms. The duvet on the bed is very thin, and there is not an extra one anywhere. So even though the bed itself was of good quality, it didn't feel cosy. Also, the shower is extremely small and the hot water only seemed to last for a few minutes before it turned lukewarm. If you take very quick showers this may not bother you, but if you like to take long, hot showers it will be a disappointment.