Brooklyn Mirage set to reopen as Pacha New York
Brooklyn Mirage will reopen as Pacha New York this summer, it has been announced.
The Avant Gardner and Brooklyn Mirage complex will now be fully managed by the Dubai-based FIVE Holdings, Pacha’s parent company. The news comes following a year-long saga which saw the Williamsburg venue declare bankruptcy last August after months of continuous reopening postponements due to major renovations.
In a press release shared on Tuesday, 3rd February, FIVE Holdings confirmed that it has entered into a long-term agreement with New York investment firm Axar Capital Management, Avant Gardner’s primary lender, which acquired the venue for $110 million last August. FIVE Holdings will now assume full operational management of the Brooklyn Mirage and The Great Hall complex
As Brooklyn real estate publication The Brownstoner notes, a group of unsecured creditors who were owed money by Avant Gardner had previously accused Axar of “secretly brokering a sale to Pacha and undermining a deal previously approved in bankruptcy court” late last year. However, after an agreement was reached between all parties, these objections were withdrawn, allowing the bankruptcy to move forward and the FIVE Holdings partnership to go ahead.
With “all material matters related to the Chapter 11 [bankruptcy] plan and sale transaction,” now resolved, the venue complex, which also includes the The Great Hall and Kings Hall spaces, will reopen as Pacha New York in June, running seasonally through October.
While no line-ups have been revealed as yet, an official press release from the venue operators promises that its first season will feature “world-class performances that place international headliners and homegrown talent on the same stage”.
“More than a market expansion for FIVE and Pacha, it marks a defining moment in our global journey,” said FIVE Holdings Chairman and Chief Executive Kabir Mulchandani. “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.”
The Great Hall portion of the complex is reportedly set to be upgraded, and will continue to year-round “as a multi-genre arena for live acts and next-generation sounds”.
The original Pacha nightclub, an iconic venue in Ibiza, previously attempted to create a footprint in New York City back in 2005. Pacha NYC operated for 10 years inside a massive building in Hell’s Kitchen before shuttering in January 2016.
