The Centro Dramático Nacional's main Lavapiés venue, named after the playwright Ramón María del Valle-Inclán and housed in a striking modern building on the Ronda de Valencia. The theatre is the most important state-funded stage in Madrid for contemporary Spanish drama and international theatre, programming work that would never find a home in the commercial theatre of Gran Vía.
Tickets are priced well below the commercial theatres. The building itself is worth seeing — dark brick, angular, with excellent sight lines from all seats. Check the schedule at cdn.mcu.es. Metro Lavapiés.