Brooklyn Mirage Enlists Hedge Fund Founder to Aid With Permitting Woes

The Bushwick venue has been stuck in permitting purgatory since May 1

In case you weren’t—or, more likely, have given up on—keeping count, we have officially entered week seven of waiting for Brooklyn Mirage to open its recently expanded dance floors to the public.

The venue, initially slated to begin its 2025 season on May 1, has been derailed indefinitely due to a failed safety inspection, which complicated its path to gaining the Department of Buildings permits necessary to allow crowds into the space. After weeks of silence and dozens of shows rescheduled, cancelled, or relocated in the interim, the venue’s parent company Avant Gardner parted ways with Brooklyn Mirage CEO Josh Wyatt, who, in an interview with BKMAG just days before it was set to open, promised the venue would be “forcefully transparent.” Gary Richards, a venerable promoter and touring artist, was brought in to manage the day-to-day operations of the venue in Wyatt’s place.

But that has yet to solve their permitting woes. Now, it appears Avant Gardner has turned to new leadership to steward the process out of its current purgatory. According to a report from Billboard, the company has enlisted the aid of Andrew Axelrod, founder of the Axar Capital hedge fund, which has reportedly been invested in Avant Gardner since late 2023. Axelrod, who was close to Avant Gardner’s former CEO Billy Bildstein, is claimed to be overseeing the procurement of the city-sanctioned slips that could finally clear the venue for take-off. However, the report does not note how long that might take, or whether Axelrod’s efforts are bringing the venue any closer to opening the gates.

For its part, Brooklyn Mirage remains tight-lipped about developments. It hasn’t issued a public statement since cancelling all Memorial Day weekend shows nearly a month ago. And yet, through all the turmoil, those left holding tickets for shows that may never actually happen are still getting in their feelings, lighting up Reddit with nostalgic photos and videos from the venue’s palm tree-clad glory days.