hi there,
Many clubs and restaurants host New Years parties in Madrid much like those in the United States. For around 40 to 60 Euros you are able to purchase reservations to a fine restaurant that includes dinner, drinks, and a midnight toast.
If you are having dinner as a part of your
Madrid New Year celebration then you are best advised to do so as close to the city limits as possible so as to not miss out on the Metro running downtown to all of the festivities going on later in the night.
You will encounter plenty of
nightlife, dining, and entertainment in the various neighborhoods in Madrid. For a spectacular New Years Eve in Madrid consider heading to the Puerta del Sol or the Plaza Santa Ana where you will find a range of establishments celebrating the occasion.