Taverna Alkazar is not that cheap but it has earned the right to charge these prices with over 50 years of service. The manager says the key has always been quality and simplicity. It is one of the very traditional restaurants in Valencia, and it is very popular with many affluent Valencians. You will no doubt see a business lunch, a political group or a courtesy dinner here, and there must be a reason they choose it. Luxury traditional fish, meat and seafood dishes are in abundance and there are a fair few paella varieties. In the winter you can appreciate the traditional tavern / wine cellar interior with classic Spanish themes on the walls, and in the summer the whole street is turned into one big dining terrace, shared between Taverna Alkazar, Palacio de Bellota and Givera. The other two serve a similar range and are also quite established, but their prices are lower, so you might want to check them out too.