Brooklyn Mirage Parent Company Reportedly “Bleeding Money,” Trying to Sell The Business

By Scott Enman

More than two months after its planned reopening, the Brooklyn Mirage remains shuttered. And Avant Gardner, the embattled East Williamsburg venue’s parent company, is now reportedly trying to sell the business amid ongoing financial and permitting woes.

Avant Gardner’s non-executive Chairman of The Board Gary Richards, also known by his DJ alias Destructo, was overheard discussing the difficulties the company had encountered finding a buyer while dining recently at Per Se, a French restaurant in Columbus Circle overlooking Central Park.

“I was literally in the restaurant and he was sitting at the table right next to me,” an eyewitness tells BKMAG. “It was pure chance. I was looking at them the whole night, talking about how they want to sell Avant Gardner because it’s bleeding money, that they’re looking to get a buyer, but it’s impossible right now.” Richards was brought in to replace former Brooklyn Mirage CEO Josh Wyatt, who was hired in October 2024 to rebrand and revamp Avant Gardner and fired in late May after the initial delays.

We reached out to the Avant Gardner team for a statement, but they were unable to provide comment for this article by press time. However, an Avant Gardner operations team member, who asked for their name not to be used for fear of retribution, said they’ve also heard chatter about the company trying to sell, and surmised that “if they don’t get bought, they’ll definitely have to file bankruptcy.”

“The company is so broke that certain employees are missing months of back pay and they’re not paying any holiday incentive wages. As far as speculation goes from me, this summer is a wash,” the insider added.

The Brooklyn Mirage, which was slated to open on May 1 after an ambitious redesign, has been plagued by failed safety inspections, unmet construction deadlines, and a worsening relationship with fans. Ten weeks of shows thus far have been canceled or relocated, including two dates from Black Coffee’s four-show residency. This weekend’s two-day Boiler Room event was relocated to Under the K Bridge, and although Avant Gardner’s website still has Lee Burridge’s All Day I Dream event slated for the Mirage on Sunday, the chances of that happening are slim at best.

As of Thursday, the city’s Department of Buildings still had objections to the Mirage’s application for a Temporary Place of Assembly Certificate of Operation, which is required for event spaces where 200 or more people gather outdoors. Avant Gardner—which has reportedly been “quietly co-managed” by Andrew Axelrod, founder of Axar Capital hedge fund—has undoubtedly experienced significant financial losses from lost revenue, not to mention a $30 million redesigned venue that has sat empty for over two months.

The venue hasn’t offered a public statement since cancelling its Memorial Day weekend shows.