We spent NYE here and it was a great location. Central & the balcony overlooked Puerta del Sol, where all the NYE festivities were taking place! It is close to the main Sol station and the location can't be beat.
Walking distance to great neighborhoods, as well, such as Chueca & Malastana.
Great communication - Frederica was the one who mainly communicated with us and there were no issues and fast response time.
Check-in was a breeze and timely. The place was clean, as well.
It does get noisy at night, but it is as expected as this is the equivalent of Times Square to NYC. It is on the second floor and above bars that stay open late. We were also there for holiday & NYE weekend, so there was a lot of celebrations every night on the street level. Overall, the neighborhood is lively and safe - great location.