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Officially part of the Palacio neighborhood, this bustling area bordered by Calle de Segovia to the north; Calle Toledo to the east; Plaza de la Cebada to the south; and Calle Bailén, with its imposing Basílica de San Francisco, to the west, has created a reputation of its own. It now houses some of the city’s oldest buildings, plenty of sloping streets, and some of the best spots for tapas, especially on the Cava Baja and Cava Alta, and in the area around Plaza de la Paja.