Get the latest gossip

Brooklyn Mirage Has Been Quietly Co-Managed by Hedge Fund Manager Axar Capital Amid Reopening Drama

The Brooklyn Mirage's planned reopening has been delayed indefinitely. Amid the drama, it has been co-managed by hedge fund manager Axar Capital.

A New York hedge fund manager linked to the SFX bankruptcy has been quietly co-managing Avant Gardner and the temporarily closed Brooklyn Mirage nightclub since late last year and leading unsuccessful efforts trying to get it reopened, Billboard has learned. Due to the disastrous 2023 run, Avant Gardner has faced multiple lawsuits from both fans and unpaid vendors and was condemned by a one-time ally, New York Mayor Eric Adams, who had previously supported the popular Brooklyn Mirage and sided with Bildstein during his high-profile battle with the State Liquor Authority. Sources tell Billboard that Axelrod made additional investments into the Brooklyn Mirage, which recently underwent extensive renovations and is now attempting to navigate New York’s Department of Buildings to secure a permit to open.

Get the Android app