First off, we were a bit surprised when we arrived to find that the pictures on the listing are old and the layout is completely different than depicted. 3 walls have been added since the pictures were taken - which means the long, spacious living area along the window wall had been shortened. The kitchen is now closed off from the rest of the living areas and the table is cramped in a corner. We specifically look for places with larger living areas since we travel with 3 small children so we were disappointed to find the major changes.
The location is amazing and close to everything you would need to be near in Madrid. It was fun to walk right out into Plaza Mayor when we exited the building.
We will warn - if you plan to relax a lot in the airbnb, be warned the mattresses are VERY thin and not at all comfortable and the black couch is quite hard. The kitchen is nice and the master bathroom is spacious, and it is nice to have the ability to do laundry during our stay.