Well, Florence is right, that area is Belgrano, not Palermo. It's quite an upscale neighborhood, bordering Palermo as you can see from that dotted line next to the right side (Zabala).
Putting that aside, at night it's a bit quiet around there, but I wouldn't call it unsafe. Maybe the proximity to the Golf Club and the park could lead to some muggings, but as I said, it's an affluent area so there's plenty of police and loads of cameras.
Before they elevated the train tracks, the area around Belgrano C station, right between Barrancas de Belgrano square and the Chinatown, was pretty sketchy because the station was neglected. But that changed, they raised the tracks, and that area got gentrified too, so there you go. It's just for dramatic effect. I guess nobody would make a fuss about it, but if they said that about a place in Barracas, Flores, or La Boca, all the bleeding hearts would start crying about stigmatizing the poor, etc....