Picked this from TA reviews. Wanted something local in a non-touristy area. Definitely very local in the Almagro neighborhood and hotel is a charming century old converted house. Not posh like Palermo or Recoletta but for a 3 nights stay it is memorable.
Location is fairly convenient. Subte (Castro Barrios station) is only few blocks (5-10 minutes walk) away. Have walked quite a bit around neighborhood at all times and felt safe although some streets near hotel are quite quiet and with tall shade trees and couple homeless people lying around, but they are harmless. Dog poop is something to watch out for in BA and here is no exception.
Several banks with ATM are on Ave. Riverdavia (where Subte station is also) and so is the fame Las Violetta (had a few nice meals there). Couple good size supermarkets and many smaller mercados (kind of like 7-11 3 times the size convenience stores) scattered all within few blocks. Ave. Riverdavia is a main street and has many shops, restaurants (Cle'--a sumptuous buffet with Italian, Asian, Argentinian Parilla and many other choices at 100 pesos is a good way to sample Asado on the grill and about 15 minutes walk from hotel).
There is also a 100 year church right around the corner that is very nice to visit.
We came from cruise ship dock to hotel and cost US $25. From hotel to AEP (for Iguazu visit) early morning is 60 pesos ($15) where coming back in afternoon traffic cost 110 pesos ($28 approx). Subway to Pink Government House, Florida street and Puerto Madero (nice waterfront shopping/eating area) is only 1 pesos (got to try the oldest S. American subway at least once). Mostly we use taxi and they are convenient and not ultra expensive.
Room is smallish (but with very high ceiling) by American standard. Bathroom is tastefully decorated with minimalist modern fixtures (bidet included). Bathroom sink area has not much extra space to put stuff on. Electric outlets only a few and use 220 volt (staff has adapter plug). Not much storage space (we had to lay suitcases around floor during entire stay). WIFI is strong and free. Breakfast is included and eating in the open inside courtyard is a nice way to start the morning instead of the basement breakfast area.
Security is quite adequate (front door is always locked and has to be buzzed in) and room key is left with staff when leaving for excursion. Had asked for a small portable safe and realized really don't need it. But of course when traveling always use common sense to secure all valuables at all times.
Staff all speaks English and have a good knowledge of local areas. All one needs is to ask and advice will be given to tailor to individual needs. Hotel has less than 15 rooms and during the entire stay (once on ground floor and other nights upstairs) it was very quiet and occasionally hear the church bell rings which adds to the charm.
Leaving hotel to EZE airport they can arrange for private transport (no meter) and it took 45 minutes and 180 pesos ($45 and not sure if that was on the high side but it certainly is door to door and promptly).
All in all a worthwhile place to stay if one wants to feel a local neighborhood.

My husband and I stayed here for 2 days before Xmas and we had a wonderful time. The staff are all super friendly and helpful. They even gave us some of their precious coins so we could take the bus. The hotel is clean. Very close to the subway and in a safe neighborhood. We really enjoyed our stay.

I HIGHLY recommend this hotel to anyone travelling to Buenos Aires! It is said to be a 3-stars and a half hotel but honestly I would rate this hotel with an higher grade. The service was amazing and the people working there put all in place in order to reserve places to theaters and whatever excursions we have done there. Courteous, nice and very friendly staff.

When we got there, our flight landed quite early and the rooms were not available yet. The receptionist told us to go take a breakfast (at some restaurants he pin pointed for us on a map) and that when we'd be back, rooms would be available. When we got back, indeed we had to choose from three rooms he showed us with all different styles.

The Racó de Buenos Aires is located three blocks away from Castro-Barros metro station and this station is less than 10 metro stations away (15 minutes) from Plaza de Mayo, the main place in Buenos Aires. It's also located in a very calm, quiet and secure neighbourhood, and close to good restaurants.

I stayed at Raco de Buenos Aires for two nights in November 2011. I read previous guest reviews and was intrigued. My stay was very pleasant. The hotel staff friendly and incredibly helpful. I can't say enough about how welcomed they made me feel. They gave several good options for vegetarian restaurants and things to do on a public holiday when most businesses were closed. It was like staying at friend's place. I enjoyed staying in a quiet, non-touristy neighborhood. Not far from the subte and a quick (cheap) taxi ride to several major sights. My stay here was at the end of a three week trip to AR. I wished I had stayed here longer. I would stay here again, would highly recommend it to others. Chris Seattle, WA