Well, not to toot our own horn or anything, but this area is the best area in Prague for going out. There are a multitude of restaurants and bars within five minutes walk. A few are listed below, but use the map from the link at the bottom to really get a feeling for everything that is in the neighborhood
U Benedikta, 0 minutes walk - Downstairs next door. This is a typical Czech pub. Get a beer, get some duck, have some dumplings and sauerkraut. Have some more beer. Don't have breakfast here.
Paneria bakery, 0 minutes walk - Across the street from the flat, good breads for breakfast. Decent coffee, good pastries.
Orange Moon, Ramova 5, tel: 222 325 119, 4 minutes walk - Left down Dlouha street, right on Ramova. A Thai place, moderate prices, good cuisine. Nice atmosphere, not too smoky, the food is tasty. Reservations certainly recommended during the summer.
Ariana, Ramova 6, tel 222 323 438, 4 minutes walk - Left down Dlouha street, right on Ramova. Across the street from Orange Moon. Up and down, always greasy. But how often do you get a chance to have food prepared in an Afghan style by Afghanis? It's filling if nothing else.
Rasoi, Dlouha 13, tel: 721 882 557, 5 minutes walk - Left down Dlouha street. Indian food downstairs, loud techno club/bar upstairs on Fridays and Saturdays. Not cheap but tasty food. Trendy folks are all around on Friday and Saturdays.
U Sadlu, Klimentska 2, tel: 224 813 874, 3 minutes walk - Down Revolucni towards the river, right on Klimentska. Great beer, huge portions of duck or ribs, very friendly service, a perfect example of Czech cooking at it's best. Reservations recommended.
Divinis wine bar, Tynska 19, tel. 224 808 318, 7 minutes walk - Up Benediktska around the corner, straight on Masna, right in front of you on the corner of Tynska street. From our recommended restaurants page, great wine, all right food, decent atmosphere. Expensive, but what great Italian wine.
Dahab tea house, Dlouha 33, tel: 224 827 375, 3 minutes walk - Left down Dlouha, right on Rybna. Sit around on comfy cushions, smoke flavored tobacco from a hookah, sip funny teas and eat extremely sweet Moroccan pastries. A nice wind-up or wind-down or pleasant place to pass the afternoon.
Roxy , Dlouha 33, tel 224.826 296 - 3 minutes walk - Left down Dlouha, right hand side on the corner of Rybna. If you want to dance all night, go to the Roxy. If you want to look at art, go to the Roxy. If you want to hang in a quiet non-pretentious cafe, go to the Roxy. But it's best known as a techno-rave club and it pretty much kicks Fridays and Saturdays.
M1 bar, Masna street - 5 minutes walk - Left down Dlouha until the little traffic circle, then U to right and it's on Masna street across from the Bagel shop. If there is a movie filming in town, the stars hang out here. Lots of being seen, but it's a cool atmosphere and the couches along the walls are inviting.
For an overview of ALL the bars and restaurants in this area, click on this link.