The Brooklyn Mirage is set to reopen as Pacha New York this summer.
Rendering courtesy of FIVE Holdings
After a battle in bankruptcy court, there’s a new life on the horizon for the Brooklyn Mirage, as global nightlife brand Pacha is set to take it over and reopen it as Pacha New York this summer.
FIVE Holdings, the Dubai-based company behind Pacha, has brokered an agreement with Axar Capital Management to take “full operational management” of the Mirage and its sister venue The Great Hall after the venues’ parent company, Avant Gardner, filed for bankruptcy.
That agreement seemed in jeopardy just last week, when some creditors — people owed money by Avant Gardner — accused Axar of secretly brokering a sale to Pacha, undermining a deal previously approved in bankruptcy court. The creditors pulled their support for the deal, putting the sale on unsteady ground
Court documents show that Axar has since reached an agreement with the creditors, though the details of that agreement were not immediately clear.
“With these matters now resolved, the transition to FIVE and Pacha can move forward in earnest,” Axar CEO Andrew Axelrod said in a statement.
Pacha New York will kick off its “first season” in June 2026, the company said. In keeping with Mirage tradition, it will operate as a seasonal venue, closing in October 2026. In those five months, the company said it will bring “world-class performances that place international headliners and homegrown talent on the same stage.”
The Great Hall, meanwhile — tucked inside the same complex in East Williamsburg — will be upgraded and will serve as a year-round “multi-genre arena.” It was not immediately clear whether the third venue at Avant Gardner, Kings Hall, will be impacted.
In a statement, FIVE Holdings CEO Kabir Mulchandani said the brand’s expansion to New York was a “defining moment” in the company’s journey.
“This move reflects the strength of our vision, the resilience of our platform, and our ambition to help shape the future of entertainment on a global stage,” Mulchandi said. “We are entering a city that influences how the world thinks, creates, and connects — and we do so with bold imagination, long-term commitment, and the confidence to build destinations that resonate far beyond their physical walls.”
This is a breaking news story and will be updated.