Pacha's parent company FIVE Holdings announced that they have acquired the Brooklyn Mirage and The Great Hall complex.

The first season of performances is set to start in June and end in October of 2026.

Pacha says that fans can "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."

The Great Hall will be upgraded to a year-round venue and will welcome partnerships with local artists and promoters.

The Brooklyn Mirage was once expected to be one of New York City's hottest summer venues, but it never reopened since the Department of Buildings deemed it unsafe.

DOB inspectors found the venue's stage lacked proper bracing, leaving its roof unstable and not built to withstand wind or seismic activity.

The department also cited issues with sprinklers and lack of bathrooms and accessibility routes.

Andrew Axelrod, CEO and CIO of Axar Capital said "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."