Beleaguered Brooklyn Mirage Is Out of Bankruptcy Court & Set to Reopen as Pacha

T

TurboCraze

Brooklyn's Beloved Nightclub, Brooklyn Mirage, Emerge from Bankruptcy with New Owners and Pacha Revival.

The saga of Brooklyn's iconic nightclub, Brooklyn Mirage, has just taken another dramatic turn. After a year of uncertainty, the beleaguered venue has been acquired by Dubai-based hospitality and retail group FIVE Holdings. The news marks a major turning point for the club, which had been slated for demolition after its owners filed for Chapter 11 bankruptcy in August.

Under new ownership, Brooklyn Mirage will become the flagship location of Pacha, a world-renowned nightclubbing institution with roots in Ibiza. This new chapter for Pacha New York City represents a significant milestone for FIVE Holdings, which acquired The Pacha Group itself in 2023 in a deal worth $330 million.

FIVE Holdings promises to bring "the world's most sought-after electronic artists and Grammy-winning performers" to Brooklyn Mirage, with a 2026 season that will conclude in October. Meanwhile, the adjacent Great Hall complex will continue to operate year-round as a multi-genre venue.

The acquisition marks a dramatic turnaround for Brooklyn Mirage, which had been stuck in limbo since its owners initially filed for bankruptcy. Despite efforts by secured creditor Andrew Axelrod's Axar Capital to reopen the venue, plans were derailed due to ongoing permitting issues.

Axelrod expressed relief that "all material matters related to the Chapter 11 plan and sale transaction" have now been resolved, paving the way for a smooth transition to FIVE Holdings. The deal is seen as a major coup for Pacha, which aims to expand its global presence with a flagship location in New York City.

For FIVE Holdings chairman and CEO Kabir Mulchandani, the move represents "a defining moment" in the company's global journey, as it marks a bold expansion into the US market. With multiple locations across Dubai, Zurich, and Ibiza, Pacha is poised to become a major player in New York City's vibrant nightlife scene.

With FIVE Holdings at the helm, Brooklyn Mirage is set to reopen its doors with a new chapter of music, art, and culture that promises to captivate audiences from around the world. The future looks bright for this once-belieged nightclub, now reborn as Pacha New York City.
 
Yooo, just heard that Brooklyn Mirage is back on 🎉! I mean, it's crazy how they went from being in bankruptcy to getting new owners and reviving the Pacha brand 💥. FIVE Holdings seems like a solid move for them, especially with their experience in Dubai and Ibiza 🌍. Can't wait to see some big-name DJs spin at Brooklyn Mirage next year 🎶. The fact that they're keeping the adjacent Great Hall open is also a nice touch 👏. Maybe this will be the start of something new and exciting for NYC's nightlife scene 🤞
 
🤩 just heard about Brooklyn Mirage coming back to life... been a fan of the place since I was a teenager! can't believe they were on the verge of demolition 🤯 it's crazy how things have fallen into place for FIVE Holdings - that $330 million deal in 2023 must've been some serious investment 💸 i'm hyped to see what kind of talent they'll bring to the table this season, Grammy-winning performers and all that... sounds like a major comeback story 📚 Brooklyn Mirage was more than just a club, it was an event space - I can already imagine the Great Hall coming back stronger than ever 👏 as for Pacha's global presence, yeah, this is huge 🌎 NYC nightlife just got a whole lot more interesting!
 
lol what a rollercoaster ride brooklyn mirage's had 🤯 i mean who would've thought they'd end up in the hands of pacha? it's like that one aunt at the family reunion, but instead of drama, its gonna be sick beats 💃🏽🕺️ and i gotta say, $330 million is a pretty sweet deal for five holdings 👀 can't wait to see what they bring to the table 🍻🎉
 
Just when I thought all hope was lost for Brooklyn Mirage 🤞, FIVE Holdings swoops in and saves the day! 🎉 I'm beyond stoked to hear that they're bringing Pacha Revival to NYC 💥 It's going to be lit with Grammy-winning performers and world-class DJs 🕺. The fact that they'll be hosting top-tier artists is a major win for Brooklyn Mirage fans like me 🤗 Can't wait to experience the magic of Pacha in the Big Apple! 💫 And great news for Great Hall too, it's awesome they're keeping their multi-genre vibes alive 🎶
 
I mean, think about it... a nightclub's life is so short-lived, yet we invest our time, money, and emotions into these places like they're going to be around forever. And then, just like that, bankruptcy strikes and the future seems uncertain. But here we are, with a new owner breathing life back into Brooklyn Mirage. It's almost like this whole saga was just one big metaphor for the impermanence of things. We get attached to these places, think they're permanent fixtures in our lives... but no, they can disappear in an instant. And yet, amidst all that uncertainty, there's a certain beauty to it. The promise of a new beginning, a fresh start. It's like Pacha is saying, "Hey, we've been around for so long, we know what makes this city tick." I love how FIVE Holdings is bringing in Grammy-winning performers and world-class DJs... it's like they're trying to prove that even in the midst of change, music can still bring people together. 🌃🎶
 
omg i'm so hyped!!!!!!!!! 💥🎉 brooklyn mirage is back and better than ever!! i've been waiting for ages to see what was gonna happen to this iconic club and it's amazing news that pacha has come in to save the day 🙌💖 i mean, can you even imagine dancing the night away under those incredible lights again?!?! 🔥🕺 it's like a dream come true!! i'm already counting down the days until they open their doors with all the world-famous artists and grammy-winning performers...this is gonna be epic!!! 🎶💃
 
OMG u guys!!! 🤯 I was literally saying this last year when Brooklyn Mirage first filed for bankruptcy 🤑 I thought it was the end of an era for our city's nightlife scene 😔 But it looks like FIVE Holdings has pulled off a major comeback feat 💥 And bringing Pacha to NYC is gonna be lit 🔥 Can't wait to see some world-class DJs and performers take over the stage 🎤🕺 The new owners promise to bring more than just great music, they're also gonna revamp the space with sick art installations 🎨💻 This is a major win for Brooklyn's nightlife scene, and I'm hyped to be back at Brooklyn Mirage this summer 💃🏽
 
man I was so bummed when I heard they were gonna raze the place 🤕 but it sounds like things are finally turning around! having pacha on board is a huge win for the city's nightlife scene - those guys know how to bring the heat 🔥 can't wait to see who's gonna be performing this year. also, i'm curious about the great hall complex - what kind of vibes can we expect from that side of things? 🤔
 
just hope they dont mess it up 🤞... been waiting 4 ages 2 see Brooklyn Mirage bounce back 2 its former glory 🎉💃🏽 pacha is iconic but can dey handle the big city vibes? 🤔 gotta believe in new owners tho 💕
 
I'm so stoked to hear that Brooklyn Mirage has emerged from bankruptcy! I've been following this saga for ages, and it's crazy to think that one of NYC's most iconic clubs was on the chopping block 😱. The news that FIVE Holdings is behind the wheel now means we can expect some serious upgrades to the venue – I'm talking top-tier DJs and performers, plus an immersive Pacha experience that'll transport us all to Ibiza 🌴.

It's also a big win for Kabir Mulchandani and his team at FIVE Holdings. They're making some savvy moves expanding their brand into the US market, and Brooklyn Mirage is the perfect flagship location to get them started 🔥. I'm excited to see how they'll bring Pacha's unique energy to the city – that Great Hall complex is going to be a game-changer for multi-genre events 🎟️.

Overall, this acquisition marks a major turning point for Brooklyn Mirage, and I couldn't be more hyped about what's to come! With FIVE Holdings at the reins, we're looking at a brighter, bolder future for one of NYC's most beloved nightlife institutions 💥. Bring on that 2026 season – I'm ready to party like it's Ibiza 🎉!
 
🌆🎉💃 so they found new owners who are gonna bring back some awesome DJs 🤩 like Tiësto and David Guetta 📈 gotta love the vibe of Brooklyn Mirage getting a second chance 💪🏽🕺 this is gonna be epic with Pacha taking over, I can already imagine the iconic parties at the Great Hall complex 🔥💫
 
omg u wont bliev wut just happnd!!! Brooklyn Mirage is back 2 b @ Brooklyn! i no its been thru a lot w/ bankruptcy & all but now its under new owners & its gonna be part of the pacha fam 🤩🎉 they r bringin in big names like grammy wninners & top electronica artists 2 perform @ bklyn mirage cant w8 2 see whats in store 4 dis iconic venue 😍
 
man... i was really worried about brooklyn mirage 🤕 but it's amazing to see pacha reviving it with new owners 🎉 they've got some big names lined up for the season so fingers crossed everything goes smoothly 👍 and good on kabir mulchandani for making this happen, sounds like a game changer for five holdings 🤑 also, can't wait to see what kind of vibe pacha brings to the great hall complex... it's gonna be lit 💃
 
man, it's great to hear that Brooklyn Mirage is getting a second chance 🤞... I mean, who wouldn't want to save an iconic NYC nightlife spot? but at the same time, we gotta think about the bigger picture here - the club has been through some tough times and there are still a lot of unknowns about what this new ownership means for the future. will they be able to maintain the vibe that made Brooklyn Mirage so special in the first place? only time will tell... I'm both excited and skeptical about this whole thing 😊
 
Man, I'm so stoked to hear that Brooklyn Mirage is back in business 🎉! I've been missing out on some epic nights at that spot and I know the community has been feeling the void. With FIVE Holdings and Pacha taking over, I'm expecting big things - world-class DJs, crazy light shows, and an all-around sick atmosphere 🔥. The fact that they're promising Grammy-winning performers is a major win in my book 🎶. And yeah, it's great to see Kabir Mulchandani at the helm for FIVE Holdings - I've heard good things about their hospitality chops. I'm pretty sure this means Brooklyn Mirage is gonna be back on the map and we're all gonna be better off for it 💪.
 
omg just heard about brooklyn mirage reopening 🤩 they're bringing pacha vibes to NYC and i'm SO here for it! new ownership means new sounds, new art, and new energy 💃🏽 the fact that Grammy-winning performers will be gracing their stages is giving me LIFE 🎶 cant wait for the 2026 season to kick off in october 📆 this is def a major win for NYC nightlife scene 💪
 
Just what NYC needed, another wild card in the nightlife scene... 🤔 I'm not sure about this new Pacha revival, feels like they're trying to pack too much into one space. Will it all work out? Only time will tell, but one thing's for sure, Brooklyn Mirage is back and better than ever 😎
 
just saw this news about brooklyn mirage i was literally living under a rock lol. it's crazy how things can turn around like that. first i heard they were gonna demo the place then we find out it's getting a new lease on life with pacha takeover 🤩 can't wait to see what kind of lineup they'll have but hopefully it won't be all about ravers and edm heads 🎶🌃
 
Man... think about it like this: when life throws you curveballs, sometimes you gotta let go of what's holding you back 🤯. Brooklyn Mirage was stuck in limbo, but now FIVE Holdings is breathing new life into it. It's like a phoenix rising from the ashes 🔥. This story teaches us to be open to change and to trust that something better is on the horizon. We can't control everything, but we can control how we respond to uncertainty. Let go of the fear of the unknown and have faith that something amazing is waiting for you around the corner 💫. And that's a lesson I think we all need to remember sometimes 🙏
 
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