I recently stayed at the Ayres de Palermo Apartment Hotel located at Sanchez de Bustanante 1955 on the border of Barrio Norte and Palermo. I booked the room through Myra Brill at Argentina Travel Services for $89 + tax including breakfast (until 11) I believe the hotel web site rate is $125 + tax a night.

This is a new property that opened about 6 months ago. The hotel is on a side street located 2 blocks from the Alto Palermo Shopping Center and 1.5 blocks from Av. Santa Fe. The area is very safe day and night. There are many banks, restaurants, and shops close by. The subway is only 4 blocks away. The hotel is chica friendly and has many amenities. I would stay there again.