Brooklyn Mirage to reopen as Pacha New York in June after sale approved in bankruptcy court * Brooklyn Paper

"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.""

FIVE Holdings brokered an agreement with Axar Capital Management to assume full operational management of the Brooklyn Mirage and The Great Hall following Avant Gardner's bankruptcy. Creditors accused Axar of secretly brokering a sale to Pacha and initially withdrew support, but court documents show Axar has since reached an agreement with those creditors. The transition to FIVE and Pacha can proceed. Pacha New York will open in June 2026 for a seasonal run through October, presenting international headliners and homegrown talent. The Great Hall will be upgraded and operate year-round as a multi-genre arena. The status of Kings Hall remains unclear.

Read at Brooklyn Paper