BEST PULPO IN THE CITY (and yes, I've tried quite a few). This swanky locale has a great ambiance -…read morelow lighting, gente maja, and personality to boot. Seating can be a little tricky as the restaurant seems to have its share of loyal customers, so see if you can call beforehand to get a reservation and make your life easier.
We didn't have one when we visited the other night, but the staff did its absolute best to accommodate us. Props to the owner, by the way; he was incredibly personable and made dining there a pleasure.
The star of the show, undoubtedly, was the pulpo a la brasa. It was a sizeable portion and just plain melted in your mouth. Pair it with some bread and oil/spices, and we had ourselves a winner. Definitely worth your troubles to try it out when you're in the area. Actually when you're in Madrid in general. Pulpo like this is worth the trip!