A neighborhood dominated by the spectacular ellipsis known as Cape Town Stadium, crammed between the ocean and the 350-meter Signal Hill, Green Point is an excellent alternative to hanging out at the V & A Waterfront further up the coast or downtown Cape Town to the south. The highest concentration of eateries and nightlife establishments occur along and near Somerset Road in the small De Waterkant community close to downtown, although there are a handful of decent places near the stadium and Green Point Park.
Burger joints are the thing here; Loading Bay is a progressive cafe, Hudson's is about the burger and beer combo, and Beefcakes speaks both to its big burgers and LGBT atmosphere. Hit up El Burro for possibly too much tequila with your burrito or The Slug & Lettuce for great snack food with a beer. Lastly, get your sushi and (you guessed it) a selection of alcohol at Beluga on Prestwich.
Check out Green Point for a good change of pace from more party-oriented Long Street; it's a great destination for kicking back with a few drinks with friends and trying a good range of grub.
Note:De Waterkants is the LGBT zone of Cape town, with a good handful of bars and lounges that get quite busy for both dinner and late nights.