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Gracias everyone! Based on your reco's and some supplemental guidebook research, I think I will shoot for either Casa Cruz or Thymus.
The size of my party has expanded to six. Would anyone happen to know which restaurant is louder on a Wednesday night? I'd like to be able for all six of us to communicate. Thanks!
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Most of the other recommendations above are good, though as pointed out, few of them fit the "festive, hip" part of your request, being more food oriented. Thymus has the vibe, and depending on the night and what you order you'll either have a spectacular meal or just okay... it's really hit and miss. From the same folks who own Bar Uriarte, I think Sucre kind of fits what you're looking for - great, creative food, lively ambiance - I'd see if I could grab one of the tables that bellies up to the open kitchen, or, if you prefer, up front in the lounge area.
If you're in the mood for steak - you can't get much hipper and trendier than going to Miranda. It won't be the best steak in the city, but it'll be good, and the atmosphere is great fun.
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re: naxos
Tons of 'em, but I'd refer you to my website/blog www.saltshaker.net, where I have around 300 restaurant reviews locally - really comes down to what type of food and atmosphere you're looking for....
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My number-one recommendation would be Thymus http://www.thymusrestaurant.com.ar/ hip, stylish, exciting menu, and well within your budget...you can get a 6-course tasting menu for 75 pesos. I've eaten in most of the highly touted high-end restaurants in BA and Thymus impressed me most.
Gran Bar Danzon and Bar Uriarte would meet your needs in the hip department, but would be a step down in cuisine, I think. Tomo I is very good, but a bit staid and gets a largely middle-aged foreign clientele.
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DO NOT go to Olsen, well I personally think the food is bad, the service is bad. BUT the drinks are great. Reserve a table for just drinks, too bad its not summer because outside is divine.
For a fun dinner...
1. Casa Cruz is the most fun place to eat in BA and the most glam/stylish. You will feel like a jet set dealer dinning with your fabulous friends.
2. Bar Uriarte is typically trendy- white, white, white. The food is good and the open kitchen gives it a lively atmosphere.
3. Social Paraiso is the cheapest of the three and the least pretentious. But is fun and the wait staff are all young and very hip in a non annoying way. -
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Cabanas Las Lillas [for argentine steak - not exciting menu, but tasty], Katrine [mediterranean/italian - one of the best pastas i've had], Dora [best in terms of food, not the best in terms of hip etc.], Lomo [okay, standard New Argentine fare] and Olsen [Scandanavian - decent]. These are all based on my experiences from April of 2005. I live in New York and still dream about these restaurants, especially the value for money......
Just avoid La Cabana - worst steak i've had in my life.....
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Tomo I in the Panamericano Hotel is outstanding. Not exactly festive, but modern ambience, excellent service, superb food.
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