I really enjoyed my stay at the Good Loft. It was everything I was looking for. Here's a few quick hits:
-- Pros: --
* More real. In a more authentic neighborhood away from the hustle and bustle of the middle of Madrid
* Transport. Easy access to Suanzes, which can take you to Salamanca (20'), Callao (30'), or La Latina (40') without transfer. If you download FreeNow or Cabify, you can get to those places a little quicker... sometimes. Between 10-20 euros per trip.
* Restaurants nearby. Plenty of places to eat and drink near the Loft. In fact, Leyendes is right next door and they've got cold beer and good food. Tomate is right down a few blocks and they have the coldest beer I've had in Madrid.
* Style and space. The loft itself is extremely spacious and stylish. Lots of room, lots of hangers, lots of drawer space - so if you are looking for something longer term... look no further.
* Groceries. There's a Supercor on the way from the train stop, so groceries are not an issue
* Well-stocked kitchen. If you're interested in shopping and making food at home, you can do that.
-- Cons: --
* Kinda dead at times. There's not a lot to do in the area. Especially weekends. While the weekdays had a rather youthful crowd, weekends were dead and many of the restaurants in the immediate area were closed or closed early.
* Time to get to Madrid. I wanted to stay out of the area of central Madrid, but I found myself still going there. The train is fine, cheap, and easy... but you still gotta walk up the street, load a card, get on the train, wait 30', get off, walk to where you want to go. I realize that it's cheap and convenient, but it's not like I can walk outside the hotel and be in the middle of it.
* Big enough for a small family. I think a small family could stay here. There's one bed and a couch upstairs. I'm sure they offer a crib or pack and play (I don't know) but if you're rolling with one more niños, you might find it a little tight on sleeping space. This is PERFECT for a solo traveler or couple. It would seem a little bit tight with one kid, and maybe maxed out at two kids. You'll have to ask other reviewers about their experience.
Anyway, I give it 4.5-4.75 stars. I would totally live in this place and I would visit again on trips to Madrid. At the end of the day, the price was extremely affordable and worth any (little) hassles of transportation and otherwise. Book it now.