The accused "Millionaire Madam" plead guilty to one count of promoting prostitution in the third degree on Tuesday.
The New York Post reports 44-year-old Anna Gristina accepted a plea deal. Had the case gone to trial, the mother of four faced a prison sentence of up to seven years.
Gristina will be sentenced on November 20. She's already been behind bars for four months on Rikers Island for the charge, which will count towards her eventual sentencing as a part of a her plea bargain.
In February, Gristina was arrested and charged with running a widespread, multimillion-dollar brothel from a building in the Upper East Side.
She denied the allegations and claimed she was managing a legitimate online dating service.
After successfully reducing her initial $2 million bond to $250,000, Gristina successfully posted bail in June.