New York, NY : The iconic Brooklyn Mirage enters a bold new era as Pacha New York, ushering in a powerful revival of dance culture in a borough synonymous with artistic rebellion, diversity, and musical innovation. More than a venue, Pacha New York is a cultural platform where global icons, underground pioneers, and New York’s creative communities unite in celebration of music, movement, and human connection.
FIVE Holdings has entered into a long-term agreement assuming full operational management of the Brooklyn Mirage and The Great Hall complex. The partnership brings together the recapitalized Avant Gardner’s deeply rooted local legacy with Pacha’s globally celebrated expertise in building culturally defining destinations and large-scale entertainment experiences. The result is Pacha New York — the next evolution of a brand shaped by more than 50 years at the forefront of dancefloor culture worldwide.
From June through October 2026, Pacha New York ignites its first season with world-class performances that place international headliners and homegrown talent on the same stage
– a true reflection of the diverse soundscape shaping modern electronic music. Expect the world’s most sought-after electronic artists, Grammy-winning performers, and large-scale shows rarely seen in New York City, delivered with the production depth and ambition the culture deserves.
Beyond the summer season, the soon-to-be upgraded Great Hall will continue to operate year- round as a multi-genre arena for live acts and next-generation sounds, ensuring the energy never fades. Yet for all its global pull, the heartbeat of Pacha New York remains unmistakably Brooklyn – with ongoing partnerships with local artists, collectives, and promoters, keeping the space rooted in and reflective of the community that built this dancefloor’s legacy in the first place.
“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,” says Kabir Mulchandani, Chairman and Chief Executive, FIVE Holdings.
“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,” said Andrew Axelrod, CEO and CIO of Axar Capital.
At its core, Pacha New York is a statement: that nightlife can be culturally meaningful, globally connected, and locally rooted all at once.
A stage for artists.
A home for music lovers.
A new chapter in a over 50-year legacy of dancing together.
ABOUT FIVE HOLDINGS
FIVE Holdings is a vertically integrated, global luxury lifestyle group with a diverse global portfolio spanning hotels, real estate, branded residences, nightlife, fashion, music, and entertainment. Through FIVE Development, the Group delivers high-return, eco-luxe hotel, residential and hospitality projects in key international markets including FIVE Palm Jumeirah, FIVE Jumeirah Village, and FIVE LUXE JBR in Dubai; FIVE Zurich in Switzerland; and Destino Five Ibiza and Pacha Hotel in Spain. The Group also owns Pacha Ibiza nightclub, two fashion lines, FIVE Mode and The Pacha Collection, and exclusive venues such as Toy Room and WooMoon Storytellers, establishing FIVE Holdings as a global force in hospitality and entertainment.
Rated as the world’s first ESG ‘A’ rated company by ISS, FIVE Holdings leads in creating a Global Sustainable Entertainment Ecosystem. Its portfolio, valued at nearly AED 13 billion, includes internationally certified green assets in Dubai, Zurich, and Ibiza, all meeting LEED Gold or higher standards per ICMA and GBP guidelines. With 1,571 LEED Platinum Keys, FIVE surpasses the USA in LEEDv4 by over 5x and reports carbon footprints up to 4x lower and water footprints between 160% to 280% lower than the average Dubai 5 Star Resort, respectively, per Cornell University’s global benchmark CHSB 2024. Powered by 100% renewable electricity, FIVE’s ultra- efficient luxury developments, including FIVE Palm Jumeirah and FIVE Jumeirah Village, significantly reduce carbon, water, and waste footprints while delivering strong EBITDA. As a key contributor to the UAE’s Net Zero ambitions and Dubai’s D33 Economic Strategy, these properties have earned the prestigious DST Gold Tier stamp from Dubai Department of Economy and Tourism (DET).
Furthermore, FIVE Holdings along with The Pacha Group is committed to leading Ibiza’s transition to clean energy, with the Pacha Ibiza nightclub achieving a groundbreaking milestone as the world’s first and only LEED Platinum-certified nightclub, earning an impressive 81 points. This sets a new benchmark for sustainable nightlife, powered entirely by renewable energy and free from single-use plastics for an eco-friendly clubbing experience. The Pacha Hotel is now certified as Ibiza’s first and only LEED Platinum hotel with 83 points — while Destino Five Ibiza now operates fully on Green Power, contributing to the Group’s 34% carbon footprint reduction and accelerating the Balearics’ Net-Zero targets. Destino Five Ibiza has further advanced water stewardship, cutting usage by 40% through innovative recycling and conservation technologies, with the Group reducing water consumption by 7% in 2024. The Pacha Group’s dedication to responsible sourcing procures fruits and vegetables grown in Ibiza under the Balearic 0KM program. Cementing its sustainability leadership, The Pacha Group has registered Destino Five Ibiza with the U.S. Green Building Council, targeting LEED Gold or higher certification.
In 2025, FIVE Holdings won Inc. Arabia’s Best of Business Awards Dubai for Hospitality, Travel and Tourism, Inc. Arabia Leaders of Tomorrow in the Food and Dining category, as well as and was a finalist for Industry Innovators at the Skift Idea Awards.
ABOUT PACHA GROUP
The Pacha Group is a globally acclaimed lifestyle brand with a strong presence in various sectors such as music, leisure, entertainment, hospitality, and fashion. It extends its international influence through well-known destinations including Pacha Ibiza (a famed nightclub), cocktail bar Paradiso Ibiza, Destino Five Ibiza and Pacha Hotel, along with global assets including ToyRoom, WooMoon (globally) and fashion line, The Pacha Collection. Celebrating a legacy of over 50 years, The Pacha Group is dedicated to sharing the essence of the Ibizan lifestyle with the world, characterised by a carefree, sophisticated way of life infused with creativity, music, and a spirit of acceptance.
The Pacha Group integrates cultural heritage, environmental responsibility, and luxury in hospitality and entertainment. Leading Ibiza’s clean energy transition, the Group operates on 100% renewable power, avoiding 538 MtCO2e in 2024 and reducing carbon emissions by 34%. Pacha Ibiza is the world’s first LEED Platinum-certified nightclub with 81 points, while Pacha Hotel is Ibiza’s first LEED Platinum hotel with 83 points. Destino Five Ibiza runs on Green Power and targets LEED Gold or higher, having reduced its water use by 40% through recycling and conservation technologies and cutting the Group’s overall water consumption by 7% in 2024. The Group also sources fruits and vegetables locally under the Balearic 0KM program and supports communities through The Pacha Foundation, invests in 35+ initiatives across Ibiza focused on social welfare, environmental conservation, cultural arts and sports.
ABOUT PACHA NEW YORK
Pacha New York marks a new chapter for one of dance culture’s most influential global brands, reimagined for the energy, diversity, and creative spirit of Brooklyn. Rooted in New York’s legacy as a global capital of music, nightlife, and cultural innovation, the venue builds on the foundations of the Brooklyn’s most iconic dancefloor while introducing a new era of world-class production, artist programming, and guest experience. Part of The Pacha Group – the international hospitality and entertainment brand founded in Ibiza in 1973 – Pacha New York brings over five decades of dance music heritage into dialogue with the sound, style, and subcultures that define New York City. The space is designed as more than a venue: it is a cultural platform where global electronic artists, local creative communities, and next-generation audiences converge. Blending cutting- edge technology, human-centric design, and elevated hospitality with Brooklyn’s raw creative pulse, Pacha New York represents the evolution of nightlife – honoring the past, powered by the present, and built for the future of global dance culture.
