The Positives
1. Really good central yet quiet location.
2. Huge terrace in a peaceful, private and sunny location. We were visited by a local guy from Madrid, who couldn't believe the size of it.
3. The apartment is well constructed and laid out.
The Negatives
1. The apartment lacks a few items which would make it more comfortable such as bedside tables and lamps.
2. There is plenty of furniture on the terrace, but no cushions for the loungers which can be uncomfortable after a time.
3. The double beds are very small. They are also very firm (but that is a positive to my mind).
4. There is only one set of keys, which could be a problem if you are two couples staying in the apartment.
However, the negatives are fairly minor and overall the apartment is nice, the terrace is exceptional and essential for a hot Madrid stay and it is great value.