If you just need a place to stay for a night, it's a good deal cause it's clean and safe and rather cheap. But the staff was really unfriendly and you find yourself in a shoe-box-like room in an endless narrow corridor. You can have a good breakfast there - for 5 € extra. Don't know if I can recommend that.
A good place to stay, clean and safe and central situated in a nice neighbourhood (Malasaña). If you want to make friends here, this is not the place to be as there's no common room and you hardly get to know the other guests. But if you just want a clean small place to stay, you are right here.