One of nightlife’s most storied names is coming to Brooklyn. Pacha, the legendary nightclub brand, is taking control of the bankrupt Brooklyn Mirage venue, transforming it into Pacha New York and marking the first time the iconic name has returned to the city in years.
FIVE Holdings has secured a long-term operational agreement for the Brooklyn Mirage and its adjacent Great Hall complex, which had been operating under Avant Gardner before falling into financial trouble. The deal merges Pacha’s five decades of global clubbing expertise with the venue’s established Brooklyn presence, creating what organizers are calling a new flagship for electronic music on the East Coast.
The rebranded Pacha New York will launch its inaugural season from June through October 2026, featuring a lineup that promises both international headliners and local talent. The programming will span electronic music’s full spectrum, from chart-topping acts to underground favorites, with production values designed to compete with the world’s premier dance music destinations.
When the outdoor season ends, the focus shifts indoors. The Great Hall is slated for upgrades and will operate year-round, hosting live performances and DJ sets across multiple genres. Meanwhile, Pacha’s operators say they’re committed to maintaining the venue’s Brooklyn identity through continued partnerships with neighborhood artists, collectives, and independent promoters.
The takeover represents a major shift for a venue that has defined New York’s outdoor festival scene in recent years, and signals Pacha’s ambitious return to a city where it once operated a beloved Midtown location that closed in 2016.
Kabir Mulchandani, Chairman and Chief Executive, FIVE Holdings noted:
New York – the financial and cultural capital of the world – represents more than a market expansion for FIVE and Pacha; it marks a defining moment in our global 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. 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. For us, New York is not simply a new chapter – it is a statement of intent about the scale of our aspirations and the cultural impact we are here to create.
Andrew Axelrod, CEO and CIO of Axar Capital added:
After supporting Avant Gardner through a challenging period in 2025, we are pleased to have achieved an agreement in principle with the Committee of Unsecured Creditors resolving all material matters related to the Chapter 11 plan and sale transaction, as reflected in yesterday’s filings in the U.S. Bankruptcy Court. With these matters now resolved, the transition to FIVE and Pacha can move forward in earnest.
We are thrilled to partner with FIVE and Pacha to bring a world-class operator to Brooklyn. We are deeply grateful for the constructive engagement of all constituencies including AG employees, state and local regulators, artists, agents, and unsecured creditors, throughout this process. The partnership with FIVE and Pacha is about restoring the venue as a beloved destination for music fans, and we look forward to seeing it elevated to even greater heights.
