Cuba hostel

Cuba Hostel is located right at the center of Sankt Peterburg. It's situated at a sidestreat of the famous Nevski Prospekt (on the corner is a very good book store, also with english literature and next to it is a Subway, which is rare, because Russians don't really do sandwiches) and the Kazanski church. It's maybe a 10-minute walk to Hermitage. And the good clubs (Datscha, Achtung Baby etc) are very near, so no getting lost in the city when you're drunk!
But not only the location is great, the hostel is great as well! The staff is very kind and helpful and some of the few people in Russia who actually speak good English! Almost everything is allowed in their hostel (except smoking inside, but you can smoke in the hallway). Lots of drinking with all backpackers (I onced asked if it was okay to drink some vodka in the kitchen before going out and the staff said "of course, you can do everything, this is cuba hostel!"), but quiet after 1am, because then everyone is going out together (or you can get some sleep to see the famous sites with a fresh mind). Coffee, tea and internet use are for free.
However, if you're not into sharing 2 toilets and only 2 showers with 44 people, maybe you shouldn't go. But the atmosphere is extremely friendly. We stayed in the hostel with a group of 14 people and all said that the hostel itself was one of the best experiences of our trip to Russia!