Absolutely perfect location from which to explore Madrid. Definitely a lively night-life street, which comes with some late-night noise, but we were not bothered by it. Most of the major attractions of Madrid are within a 15 minute walk, and Barrio de las Letras is one of the best areas in the city for those who like to restaurant and bar hop. Gorete was very flexible with check-in, and communication was great. Note that the space is open, so groups travelling together will not have much privacy.