Do yourself a favour and book this place in right now!
The location is perfect. Walking distance to everything. We spent our first night in Madrid sitting on the roof, people watching and taking in Plaza Mayor, while eating the best churros in Madrid (purchased from around the corner).
Magui is very responsive and helpful - she answered every question and request promptly. Check in couldn't have been easier (even though we were running late due to issues with our rental car).
Highly recommend.