Great place... kinda wonderfully central to everything in Madrid. 15-20 walk in any direction has you just about anyplace you want to be- whether it's the Prado, the Palace, or some of Madrid's best tapas spots. Caveat Emptor: you're in an interesting, "hip" and transitional negbourhood-- we felt safe overall but it did get intense down in the plaza. Having said that it's incredibly convenient and a 2 minute walk (or less?) to the Metro, which is a cinch to use. We'd stay here again!