FIVE Holdings Announces Arrival of Pacha New York in June

FIVE Holdings announced that it has entered into a long-term agreement to assume full operational management of the Brooklyn Mirage and The Great Hall complex and will rebrand it as Pacha New York.

Energy will swell once again at the Brooklyn Mirage and The Great Hall in New York this summer. FIVE Holdings, a Dubai-based global luxury lifestyle group with a diverse portfolio that includes The Pacha Group, has officially announced that it has entered into a long-term agreement under which it will assume full operational management. This new era will see the venues adopt the name Pacha New York, which will resonate with longtime dance music lovers.

Pacha New York is slated to open its doors to dance music lovers later this year, with the first season of shows running from June to October in the outdoor Brooklyn Mirage space. Details on upcoming shows have yet to be announced, but FIVE Holdings has teased that the summer season will be dominated by top-tier electronic artists and large-scale shows rarely seen in New York. While that portion of the venue will be upgraded, the Great Hall is also slated for renovations. This will become the home for year-round shows as a multi-genre arena. Live shows, unique experiences, and more will take place once it opens.

In an effort to keep the roots of the dancefloor alive, FIVE Holdings intends to continue its partnerships with local collectives and promoters while leaning into The Pacha Group‘s 50-year legacy, which began in Ibiza.

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.
Kabir Mulchandani, Chairman and Chief Executive, FIVE Holdings

FIVE Holdings’ agreement to manage the venue comes after the complex was acquired by Axar Capital, Avant Gardner’s longtime lender, for $110 million. A demotion of the Brooklyn Mirage was approved in January and is slated to begin on February 2. It’s estimated that the full demolition will be completed by April or May, which puts the rebuild timeline on short notice.

“We are thrilled to partner with FIVE and Pacha to bring a world-class operator to Brooklyn,” said Andrew Axelrod, CEO and CIO of Axar Capital. “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.”

The original Pacha New York operated from 2005 to 2016 in the Hell’s Kitchen neighborhood of NYC. Its decade-long run was marked by unforgettable dancefloor moments, 24-hour non-stop parties, and performances from some of the biggest names in the scene at the time. This new era will see the revitalized Pacha New York carry the torch of the original’s legacy, as well as those of Brooklyn Mirage and The Great Hall, while offering an upgraded nightlife experience.

Details on the renovations and upcoming shows at Pacha New York still remain to be announced. Stay tuned for details.