The Real Deal New York

Broadway producers sell Park Ave. penthouse for $20M

Tony Award-winning couple bought the floor-through unit in 2007 for $9 million

January 02, 2015 04:26PM
By Claire Moses

From left: Howard and Janet Kagan, Earle Yaffa and the penthouse at 975 Park Avenue

From left: Howard and Janet Kagan, Earle Yaffa and the penthouse at 975 Park Avenue

Tony Award winners Howard and Janet Kagan sold their Park Avenue penthouse to Skadden Arps managing director Earle Yaffa for $20.3 million, according to records filed with the city today.

The couple bought the full-floor apartment at 975 Park Avenue for $9 million in 2007. The five-bedroom, five-bathroom unit boasts a wraparound terrace. The Kagans listed the penthouse last month for $22 million with Sotheby’s International Realty’s Juliette Janssens and Allison Koffman. The listing promises high ceilings, two separate wings that are united by a “state-of-the-art” kitchen, as well as two fireplaces.

The Kagans head Maxolev Productions, which produces commercial shows. They earned Tony Awards for best revival of a musical two years in a row: one for “Pippin” in 2013 and one for “Porgy and Bess” in 2012. Other shows they produced include “Hands on a Hardbody,” “The Anarchist” — with Patti Lupone and Debra Winger — and “Bonnie & Clyde.”

Last year, Howard and Janet Kagan inked a $250,000 deal to host a musical at a temporary, 10,000-square-foot space space at 860 Washington Street. The couple put on “Natasha, Pierre and the Great Comet of 1812,” a modern take on “War and Peace.” 

MENU