The first of the Machado cafés, the bohemian, artsy Altazor is still a magnet for art students, musicians, ballerinas, journalists, and academics. There is live music almost every night, ranging from alternative rock to blues to acoustic trova (Mexican protest/folk), and the Altazor has birthed some local stars. Generally a young and lively crowd: there are cheap eats and cappuccino along with the beer--sandwiches start at 18 pesos. Or get steak or chicken cordon bleu for under 60 pesos. Breakfast and lunch under the sidewalk umbrellas is a tradition for many, and in the winter lots of foreigners lunch while playing chess or mooching magazines and papers--in English and Spanish--off the newsstand.
On weekends, especially Saturday when the Artizans Bazaar is across the street and fire dancers perform in front of the tables, this is a good place to see a lot of good-looking young women and some interesting guys into dance and music. Listen inside, or out at the sidewalk tables. Wednesday nights they show movies on a projection screen inside.
Open 9am-1am Sunday-Thursday, 9am-2am on weekends. Movie club Wednesdays at 8pm. For schedule and menu check the Internet at this site.