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Vodka is the official restaurant of Vladimir Lem, after he apparently put away his mobster mentality to settle down. It is mostly a bar, but also serves food. The type of food that is served is never mentioned, nor the staff is ever seen.
Background
It used to be the Club Ragna Rock, but has been remodelled to look like a brand new resturant for Vladimir. It is noticably absent of any staff, except for the mobsters. In fact, it's usually closed (which is understandable as it is still being renovated from Ragna Rock during the events of Max Payne 2). Reminders of Ragna Rock can be seen throughout the level, what Max calls "a musty smell under the coat of new paint". In A Criminal Mastermind Max finds a room containing old Ragna Rock logos and a drum set. In Part III it is revealed that Vodka is also the base of operations for the Cleaners and Commandos. Near the end in Alfred Woden's manor, Vlad claims to Max that Max has wrecked his restaurant twice.
Two episodes of Captain Baseball Bat Boy can be seen here during the levels "A Criminal Mastermind" and "On a Crash Course." Also, there are commercials for Vodka on the televisions throughout the game, with Vlad in them.