We stayed at the excellent Casa Palermitano for the first part of our BA stay but unfortunately they couldnt fit us in for later dates when we were due to come back to BA after visiting Iguazu. Lorena, the owner at Casa Palermitano, helpfully recommended Mansilla 3935. We were hesitant because we had read another trip advisor review saying it was very basic and nowhere near as good as Casa P. However we booked because we were only going to be staying for one night and thought lets just do it.
Im SO glad we did! It was $50 USD a night - the cheapest of anywhere we stayed - and whilst ok it was not the Hilton, it was EXCELLENT value for money. In terms of comfort, location and staff it ticked all the boxes - great beds (have to say most places we stayed in Argentina had wonderfully firm, comfortable beds - as someone with back problems i was delighted!), beautiful historic building in a great location in Palermo, very plain decor but i liked that -felt almost monastic going into this very peaceful-(didnt experience any of the noise issues that the other reviewer mentioned - it was lovely and quiet and there were other guests staying) - all white decor and clean - very very clean! bathroom good - and shower pressure wonderful, Marta and her family excellent hosts, breakfast good - really what more could you want for a basic, clean, comfy stay.
In summary would recommend either here or Casa Palermitano if you want to stay in Palermo - Mansilla has slightly better location and shower pressure but more plain rooms in terms of decor and we were very impressed with Lorena at Casa P's helpfulness in terms of suggesting things like restaurants etc - you might get this at Mansilla too, its just that we werent staying long enough to know. I would also recommend if you have time to also spend some of your stay at a place in San Telmo so you can soak up the different atmos of that area - 1890 Hotel Boutique an excellent choice (see my separate review).