The hostel is located in a very busy street, where every time something happens. So it is noisy. But if you want to choose a hostel which is in the centre, you have to pay this price.
It was a bit complicated find at which floor the hostel is. (3rd)
It is in the very centre of Madrid. All of the most poular palces are about 5-20 minutes away. You can reach most of them by foot. (Sol, The Royal Palace, Palza Espana, Gran Via, Prado, Retiro, Calle Fuenceral, Plaza Mayor).
My room was enough large, although the bathroom was a bit small, but, it was ok.
The room includes an air-conditioner and a mini fridge.
Most of the recepcionist can speek english, and they were kind and helpful. The reception is opened 0-24.
What I liked very much, was that after check out I could leave there my luggage, and they handled it, so it was impossible somebody else carry away it.