Start your day with churros at the world famous Chocolatería de San Gines, just off of Plaza Mayor, followed by lunch at the Mercado de san Miguel where tapas starts from €2 and the variety is outstanding, from traditional calamari and “patatas bravas” (potatoes in a spicy tomato sauce) to a champagne and seafood bar, there really is something for everyone.
Tables are hard to come by so persevere. After an afternoon of sightseeing (I recommend El Parque de Retiro and the nearby Prado Museum), head to the Azotea rooftop bar at Circulo de Bellas Artes for the best mojitos and views of the city.
After some late evening shopping, (the shops on Fuencarral and Gran Vía are open until 11pm), try Clarita for a delightful Spanish dinner in a splendid ambience. Situated on a quiet side street off of Fuencarral, it is hard not to fall in love with this charming little restaurant. Set menu prices start from €35.