Puerta del Sol

In the center of the Puerta del Sol square, right next to the only statue with a horse. Look for the YELLOW AND ORANGE bicolor umbrella. Reference #1: The Puerta del Sol square is the only one with a giant "TIO PEPE" sign.

C. de Requena, 3

Royal Palace of Madrid (Only 5 minutes from Puerta del Sol).

Puerta del Sol

In the center of the Puerta del Sol square, right next to the only statue with a horse. Look for the YELLOW AND ORANGE bicolor umbrella. Reference #1: The Puerta del Sol square is the only one with a giant "TIO PEPE" sign.

C. de Requena, 3

Royal Palace of Madrid (Only 5 minutes from Puerta del Sol).