My family (4 adults, 2 children) spent a brief two nights at this amazing location in Plaza Mayor, right next to the Mercado San Miguel, with a balcony view overlooking the central square. It was even larger than what I expected from the photos, and everything was very well decorated, clean, and accessible. The rooms all had air conditioning, and kitchen was well stocked with dishes and plates, and both bathrooms were very nice.
The balcony has two small chairs, and one or two can sit out with a glass of wine and just enjoy the view, especially at night when it is lit up and everyone is out. My daughter spent both nights dancing in the plaza in a newly purchased flamenco dress, and declared Madrid her "favorite place".
The communication with the host was great, and for families or larger groups, the location and price are really great, especially to stay in such a historic and special location. As it is on the 4th floor, it is about 100 steps, so if you have small children, strollers, are elderly, or have a disability, just take that into consideration. Our only disappointment is that we did not have more time, but we would gladly return to this location, highly recommend.