Moncloa and Argüelles are useful starting points for a younger, student-oriented club night, with venues such as MON, Copérnico and Epoka. Around Nuevos Ministerios and Orense you can compare a different set of club formats. The Salamanca area and other central districts offer further options, but proximity alone does not determine the right evening.
If the group is visiting Madrid for the first time, pick the main venue before settling on a restaurant or late-night route. It is easier to enjoy the evening when everyone knows where to meet and how they will get home, rather than crossing the city between uncertain events.
For this particular weekend, the order of decisions matters. Start with the night you can actually attend, rather than picking the club from an old list of favourites. A Friday ticket is not interchangeable with a Saturday ticket, even where the promoter or venue is the same. If friends are arriving by train or plane, allow for possible delays and check whether admission closes at a specified time. A sensible group plan leaves room for dinner, the journey to the venue and identification checks at the door. The most helpful comparison is often between two confirmed events on the same date, not between two clubs in the abstract.