Found this place via a combination of personal recommendation (a local friend) and a good write up in The Guardian Travel section. We were not dissappointed.

This was my first time back to Buenos Aires after a 15 year absence and whilst much has changed, Palermo Soho is still the best place to base yourself I reckon.

Five Cool rooms actually has many more than 5 rooms. The name refers to the 5 TYPES of rooms it offers - Small, Medium, Large, Extra Large and Suite. We stayed in a Medium and this was more than enough for a couple. Room 209 was great as it was one of the three rooms with a street frontage and balcony. The street noise was not bad and when the glass sliding door closed it was silent.

Modern design with bare, polished concrete floors ensured the room stayed cool even as the temps outside crossed the 30 degree mark and the flat screen TV, air conditioning and free WiFi made sure we stayed entertained and comfortable at night.

The roof top space is great and the small plunge pool/spa was a great way to cool off at the end of a day.

No restaurant, but there is a Parrilla (Argentine BBQ/Grill) on the roof if you feel up to cooking and if not, there are TONS of good restaurants within a few minutes.

If you are a fashionista, Palermo Soho is the place to be and you will be spoilt for shoice with hundreds of boutiques dotted around the surrounding streets.

Great boutique hotel!

I stayed 4 nights at this hotel. Despite the checkin time was 2 pm, my girlfriend and I arrived at 6 am at Ezeiza airport. At 7 am I was at the hotel door guessing what would I do until 2 pm to get in the room. To my surprise, the front desk guy said "you room is ready". It was fantastic get rest until noom (early checkin), with no extra charge. I've booked the "Small" room, and so it was. But it was quite confortable, with a nice bed. Many people complain about that, but Buenos Aires is a city to enjoy the nightlife, the boliches, the tango. We spent 4 wondeful nights at Five Cool Rooms and I would get back, for sure.

We tend to use CNTraveller as our hotel guide of choice and were quite excited when our taxi pulled up in what was clearly one of BA's funkier areas. However, on being buzzed through the non-descript front door I was at a loss to understand how it ever made it on to their list, as the hotel has nothing to offer aside from a good location and friendly staff. The rooms are small, and for most the only natural light is the floor to ceiling glass doors that face onto the communal balcony/ open air cement corridor. The effect of this is to make the hotel unbearably noisy. Whilst I am tolerant of some noise, I draw the line at hearing my neighbours discuss their dinner plans, or hearing another guest's choice of pop music at 2am in the morning.
However, even this may have been bearable had the rooms been nice and spacious- but unless you get one of the larger ones- they aren't- and (though I accept responsibility for not reading the fine print close enough) are not, shall we say, amenity heavy- not even a mini bar or even a fridge... and although they were kind enough to provide us with a safe, it was not bolted down to anything, so whilst technically being a safe, it wouldn't be what I would classify as 'safe'. I do, however, recall.reading that they had wi-fi, and whilst this may technically be true, it didn't work- not once.
But it wouldn't be fair of me to be 100% negative as the beds were comfortable, the staff friendly and helpful, and the location great... but for the money they charge, you could get a lot better elsewhere.

We chose a medium sized room after finding their website, had high expectations but these were quickly quashed. The bathwater came back up the drainage in the bathroom so we were offered a small room for the small room price. Unacceptable customer service in my eyes so I pointed out that also the wi-fi didin't work in our room (another selling point, which to be honest should be a standard offering). We were moved to a medium room which was much better but still no wi-fi. And also after we had been moved the staff told us that the tv didn't work but it was being fixed that afternoon. This took 2 days.
Tried the jacuzzi and was utterly disgusted at the dirt that had been collecting around the water line. We felt sorry for the house keeper who had been sent up after us to clean it. I doubt it had been cleaned since last summer! Don't waste your money here!!