Refers to Manhattan's "LOWER EAST SIDE"- A neighborhood in lower Manhattan that is overridden with hipsters, yupsters, and trustafarians. What used to be a somewhat dangerous and sketchy area of Manhattan is now being gentrified by white kids.
This area requires a ridiculous amount of rent for a shitty apartment. The yupsters prefer living in The Blue and other high rise condos.
If you live here, Ludlow is your main street, Whole Foods on Bowery is your grocery store, and you have beef with the hipsterkids in Williamsburg- unless you are dating one, which since a bridge is involved, is considered a "Long Distance Relationship" anyway, so you don't have to worry about hooking up with some one at Happy Endings or whatever the next MisShapes DJ set is.
Hipster: Yeah, I'm gonna stay around the L.E.S tonight- probably hit up the Darkroom, maybe check out The Annex, my friend's band is playing there.
Yuppie: I'm going to head down to the L.E.S this weekend and get some sweet hipster ass.
L.E.S stands for Lady Eric Security it is the most sophisticated security company in the world, where the Head Quarters are located in Canada.
Sir we need L.E.S to take care of this issue.