We stayed in Madrid for 3 nights, and wanted a hotel within walking distance from main tourist attractions and restaurants. The hotel itself was very clean and tidy, comfortable too and fairly quiet rooms. There was no noise from the streets, but the other guests coming and going to their rooms, that could be heard clearly. The entrance staircase was under construction, apparently elevator is going to be built some day, and the construction site almost spooked me out to change the hotel. Renovation looked like it had been undergoing for several years.
The hotel only occupies two floors from the building, so the hotel alone can't be blamed for that, though.
For the price (50€/night) the price/quality ratio of the hotel was good.