Anyone stayed in this area and have any tips on the best places to eat and drink
That street is located in the upscale Chamberi District. If you just walk around you will find some good restaurants.
San Bernardo St. or Plaza San Bernardo?
If san bernardo street, then it is pretty much centrally located. This is the main street between barrio malasana and barrio conte duque.
San Bernardo is a long and lively street, going from Gran Via up to a part of Chamberi. It has a lot of bars and is a good location for nightlife due to its location between Malasaña and Conde Duque. It's a good place to be but certainly not in any way an 'upscale' area like someone said on here. Studenty, lively and good atmosphere certainly though.