One of my students gave me free tickets so I decided to check out this ride in the Madrid sky. Teleferico is a 2.5km cable car ride that ambles 150 feet above the city. The sky tour begins from Paseo del Pintor Rosales, near Metro Arguelles and takes you over the Manzanares river into Casa de Campo Park.
Palacio Real and Almudena Catherdral from the sky.
As you can see, the views are quite spectacular. For a mere 5.10 Euros return trip, I think the price is totally worth the ride. In fact, I plan on doing it again when the weather is better.