Penelope's great, and her spot at Fernando Montes de Oca 66 is very cool.

A tip for turistas staying there and wondering where to start with La Condesa on foot: as you leave the front door, turn right and walk six blocks on Montes to Tamaulipas and Nuevo León, no turns. Lots of nice restaurants and bars there, plus Parque España and Parque Mexico. Condesa is a very nice neighborhood, and Penelope's place is a great base for exploring.