Austin investor David Kahn purchased in late spring the former La V property that resides on part of a half-block plot on East Seventh Street. Kahn says the stunning space at 1501 E. Seventh St. is for lease and that he is hoping to find a locally owned restaurant to take the spot, and not a large national corporate tenant. The 1/4-block lot adjacent to the restaurant, which has been used as parking and event space, is zoned in a way that would allow for a multi-family-housing development or hotel, among other uses, but that he currently has no future plans for the space adjacent to the restaurant.

The East Austin fine dining restaurant owned by Houston oil and gas executive Ralph Eads closed January 2 after less than a two-year run, citing fiscal concerns.