Dubai-based group plans to rebrand Avant Gardner complex as Pacha New York.
Photo credit: Brooklyn Mirage – Facebook
FIVE Holdings, the Dubai-based parent company of Pacha, has officially acquired Brooklyn venues Avant Gardner and Brooklyn Mirage, with plans to reintroduce the Pacha brand to New York.
The deal, which closed on Thursday, January 1, 2026, was made between FIVE Holdings and Axar Capital, who had acquired the East Williamsburg complex in October. According to reports, the site will be rebranded as Pacha New York, marking the return of the iconic Ibiza-born brand to the city.
The acquisition is the latest development in a tumultuous period for the venue. Avant Gardner filed for bankruptcy in August 2025 and subsequently filed for demolition in October, following a $30 million renovation earlier that year. The venue never reopened for the summer season due to ongoing permit and construction issues.
After Axar took over, several lenders connected to Brooklyn Mirage sued the company and three board members, citing “alleged misrepresentations of the company’s financial condition,” according to Bloomberg.
Pacha’s move signals a new chapter for the sprawling Brooklyn complex and marks the brand’s second attempt to establish itself in New York.
More information is available here.
