Location is excellent! I wish they had lockers in the rooms though.
The location is great, because it's on a quiet street but really close to the center. All of the staff is really helpful and welcoming. It also had a very friendly atmosphere, so it was easy to meet new people.
This was a great place to meet people and make new friends from all over the world. The hostel had enough good common areas and activities to help you get to know Madrid. Only bummer was the noise if your room faces the street.