Palermo is an area of Buenos Aires known for its restaurants and cafes and has an excellent choice of wine, food and fashionable clothing too. You’ll find the cobblestone-lined streets a treat during any time of the day. Palermo is a big neighborhood and can be divided into: Palermo Soho, Palermo Hollywood, Palermo Alto, Palermo Chico and Palermo Viejo. If your time in Buenos Aires is limited, Palermo Soho and Palermo Hollywood will be very nice if you’re after restaurants and shopping.
Buenos Aires has areas that are allocated for the day and there are places that should be allocated for the night. Like any major city there are negatives that come with the package. Although, in the areas I’ve prescribed, they are relatively safe, during the day, alertness is a must. This shouldn’t allow for too much concern though, it just means keep your wits about yourself and stay out of the dark graffiti-infected alleys during the early hours of the morning. La Boca is an area that should only be visited by day too, for your average tourist. There you will find very Argentinian tango shows and a nice little restaurant to go with it. As taxis are cheap in Buenos Aires the commute between all areas can be achieved with little cost at all.
Go out there, explore and be safe. Live it up.