In about a paragraph, I will sum up my experience.
First of all, as a frequest traveler, NEVER go out in the middle of the night in the streets around the hotel. The place is crowded with Transgender prostitutes on every corner as well as mobs of drunk guys and you never know what they would do. I was advised by a store clerk to never go out with any belongings due to the excessive amount of thieves. The neighborhood is not at all welcoming and filled with drug addicts that storm the streets at night.
Second, regarding the hostel, don't be fooled when they state 24-hour reception service. When I arrived there was nobody and I had to wait 2 hours in the lobby for the receptionist to come and assist me. Moreover, they ripped me off and charged me 15 Euros for a room when on Expedia it states 8 Euros as my receipt says. Also, I am pretty sure I prepaid the booking via credit card but they claimed Expedia did not charge me anything and it was just a booking procedure and I am meant to pay them by cash.
Last but not least, the receptionists are very creepy, one of them scolded me and embarrassed me for losing my key exclaiming that I am an "irresponsible baby". They look at you in very creepy ways and their eyes are always red and smell like weed.
I advise noone to stay at this aweful excuse of a hostel. It's true you get what you pay for but the minimum is being honest about what they provide for services and amneties.