My place is in the Center of the city, steps from Puerta del Sol.
Great place and location, the people, the ambiance, the neighborhood.
You have availability to excellent public transports options like Metro or buses. Most likely you will not need them, because of the central location it is possible to walk around to the main attractions of the city.
Sol - Av. Gran Via are the most popular places in the city, you will find great trendy stores, cultural activities, Restaurants, Coffee stores.