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Though in parts the apartment would benefit from some upgrading and there is some noise created by the old wooden floors in the corridors, for what we required, a long weekend for family a friends, the accommodation was ideal, with lots of space for relaxing, dining, preparing/cooking food with five good double bedrooms (4 with facilities) and lots of sofa bed space beyond if needed. It was the ideal party venue which was used to the full to celebrate a family birthday.
If you're looking for accommodation to cater for a large number of people in the heart of the action, in the best part of town, this fits the bill perfectly.
You should be aware that the apartment overlooks a busy roundabout with views over one of the city's iconic monuments, which in itself is great, but you should be aware that it does generate some road noise for those sleeping in the front two bedrooms. It didn't affect our stay, but might if you are very sensitive to such noise.
The apartment is tiny, but is within 100m of the Gran Via, and is clean and adequately equipped. We were met by Jesús who showed us how everything worked, and made sure we were settled. Mercedes was also in touch to check everything was OK. From this base we were well able to explore Madrid. So we can recommend this, but be aware of the compromise you are making. If you want something this close to the Gran Via which is spacious you will pay a lot more.
There was some work going on in the building during our stay, drilling and so on, but it was quiet in the evenings and at night.