After months of closure and operational reorganization of the venue, the group integrated into FIVE Holdings will assume management and premiere the New York version of Pacha in the summer of 2026, with a programming that will combine international electronics and local talent
The iconic Brooklyn Mirageintegrated into the complex Avant Gardnerfaces a new chapter in his career. After months of uncertainty, prolonged closures and a bankruptcy process that put one of the most emblematic spaces of New York nightlife in check, FIVE Holdings has announced a long-term agreement by which it assumes complete operational management of the venue, which will operate under the name Pacha New York.
The project, officially presented this week, marks the entry of the historic Ibizan group into the New York night scene. The Pacha New York’s first season is scheduled between June and October 2026with a program focused on international electronic music and local talent, accompanied by a commitment to high level production (in sound, visuals and infrastructure) aligned with standards international from the Pacha brand. Meanwhile, The Great Hall (one of the two indoor areas of the complex) will continue to function throughout the year as a multi-genre space for live performances and new sound proposals.
A venue marked by an unprecedented crisis
To understand the scope of this announcement it is necessary to look back. The Brooklyn Mirage, which is the outdoor space integrated into the Avant Gardner complex (which also has two indoor areas, called The Great Hall and The Kings Hall), went through one of the most turbulent periods in its history between the end of 2024 and all of 2025.
The venue closed at the end of 2024 with the aim of undertaking an ambitious renovation: expansion of the dance floor, improvements in sound and lighting, reinforcements in security and new structures aimed at elevating the audience experience. The reopening was planned for May 2025with a powerful summer calendar and several dates already announced as sold out.
However, hours before the official reopening, the New York Department of Buildings (DOB) denied the temporary occupation permit after detecting serious structural safety deficienciesfire code violations and issues related to a temporary structure added during the renovation. Inspections concluded that the facility was not safe for the public.
The consequence was immediate: Mass cancellation of all summer 2025 programmingincluding dozens of large-format events, last-minute relocations to other venues and million-dollar economic losses in the middle of the high season. Added to this were the extra costs of a reform that had already suffered significant delays, forcing Avant Gardner to resort to high-interest financing.
In August 2025the parent company took advantage of the Chapter 11 of the American bankruptcy law, declaring debts in the environment of 150 million dollars. Months later, in October, permits were registered for the partial demolition of part of the Brooklyn Mirage structures, fueling uncertainty about the future of the space, which remained closed and without programming.
This entire process was developed before of any final resolution or the entry of new operators.
The arrival of FIVE Holdings and Pacha
The agreement announced now places FIVE Holdings as responsible for the operational management of the complex, integrating the experience of Pachaone of the most recognized brands in the clubbing at a global level, with more than five decades of history linked to Ibiza.
According to Kabir Mulchandani, chairman and CEO of FIVE Holdings, the arrival in New York represents “a key moment” for the group and a long-term commitment to a city that continues to set the global cultural pulse. From Axar Capital, one of the key players in the restructuring process, its CEO Andrew Axelrod has confirmed that the main issues linked to Chapter 11 are now resolved, allowing the transition to move forward “in a decisive manner.”
Pacha New York is presented as more than just a name change. The project presents the enclosure as a cultural platformwhere big international names, local artists and the city’s creative communities coexist, maintaining a direct connection with the cultural fabric of Brooklyn.
A new chapter, a new identity
With a first season set for summer 2026the new Pacha New York aims to return the former Brooklyn Mirage to the center of the international electronic music mapthis time under a different operational structure and after one of the most complex processes that has experienced a great venue in the United States in recent years.
In this way, The announcement marks the closing of a stage marked by cancellations, structural problems and financial difficultiesand opens another in which the venue seeks to redefine its role within the New York and global scene.
For a city that has historically been a laboratory of sounds, scenes and cultural movements, one of its dancefloors most emblematic once again comes to the fore. Time will tell how this new chapter is written under the name of Pacha New York.
