The high-profile divorce between the Wolverine star and Deborra-Lee Furness offers first glimpse into how celebrity couples navigate luxury real estate portfolios
The dissolution of Hollywood marriages rarely unfolds quietly, particularly when multimillion-dollar Manhattan real estate enters the equation. Hugh Jackman and his estranged wife Deborra-Lee Furness have provided the latest example, with public records revealing the strategic division of their $24 million West Side penthouse—a transaction that signals the beginning of what promises to be a complex asset separation following their 27-year marriage.
The couple’s penthouse at 100 Eleventh Avenue officially changed hands last month, with city records showing a sale price of $23.6 million. The timing proves particularly noteworthy: the transaction closed just two days after Furness filed for divorce in Suffolk County, suggesting careful coordination between legal and financial advisors to execute the property division.
A Strategic Real Estate Maneuver
The mechanics of the sale reveal sophisticated estate planning at work. While public records indicate the full $23.6 million transaction value, the property deed lists only $11.7 million—precisely half the total amount. This structure typically indicates a division of assets rather than a traditional sale to third parties, allowing both parties to extract their respective equity positions while minimizing tax implications.
The buyer, identified through an LLC called Phoenix Rising I, shares the same Beverly Hills address as the seller’s entity, Lackawanna—both connected to investment firm Grant Tani Barash & Altman Inc. Marriage and family law attorney Elena Karabatos signed as the buyer’s representative, further confirming the transaction’s role in the couple’s divorce proceedings.
Jackman and Furness originally acquired Unit 23PH in 2022 for $21 million, making it one of the most expensive sales at the Cape Advisors-developed building. The purchase price reflected a discount from the initial $25 million asking price, demonstrating the couple’s negotiating acumen even in New York’s competitive luxury market.
The Broader Portfolio Picture
The penthouse division represents just the opening move in what industry observers expect to be a comprehensive real estate restructuring. The Australian-born couple maintains additional significant New York holdings, including a West Village triplex purchased for $21 million in 2008.
Their property at 176 Perry Street tells a more complicated story. Initially listed for just under $39 million in 2022, the unit has struggled to attract buyers despite multiple price reductions, most recently dropping to under $30 million in 2024. The prolonged market exposure highlights the challenges even celebrity-owned properties can face in Manhattan’s luxury segment, particularly when dealing with unique architectural features or specific neighborhood dynamics.
Celebrity Divorce and Real Estate Complexity
High-net-worth divorces involving substantial real estate portfolios require careful orchestration to protect both parties’ interests while minimizing market disruption. The Jackman-Furness approach—utilizing LLCs and strategic timing—represents a textbook example of how sophisticated investors handle such transitions.
The entertainment industry has witnessed numerous similar scenarios, from Jeff Bezos’s record-setting divorce settlement to more recent celebrity separations involving significant property holdings. In each case, the ability to execute transactions discreetly while maintaining market value becomes paramount.
Market Implications and Industry Perspective
The transaction occurs within a broader context of Manhattan luxury real estate recalibration. While the ultra-high-end market has shown resilience, buyers have become increasingly selective, often requiring unique value propositions or motivated sellers to complete transactions above the $20 million threshold.
For 100 Eleventh Avenue specifically, the building has established itself as a desirable address for high-profile residents seeking privacy and premium amenities. The successful transaction at this price point reinforces the property’s market positioning and provides comparable data for other units within the development.
Looking Forward
As Jackman and Furness navigate their uncontested divorce—initiated following persistent rumors linking the actor to Broadway co-star Sutton Foster—their real estate strategy offers insights into celebrity wealth management during major life transitions. Their approach emphasizes discretion, tax efficiency, and market timing over dramatic public gestures.
The couple’s 27-year marriage produced two children, Oscar and Ava, whose interests undoubtedly factor into the asset division calculations. With both parties maintaining successful entertainment careers and substantial individual net worth, the property division likely represents collaborative planning rather than contentious negotiation.
Industry observers will watch closely as the remaining portfolio elements, particularly the West Village triplex, either enter the market or undergo similar structural changes. The outcome may establish precedents for other high-profile couples facing similar circumstances in New York’s luxury real estate landscape.
The Jackman-Furness divorce ultimately demonstrates how modern celebrity separations have evolved beyond tabloid speculation into sophisticated financial transactions requiring specialized legal and real estate expertise. Their Manhattan penthouse division marks not an ending, but rather a carefully orchestrated transition in the ongoing evolution of celebrity wealth management.
Source: The Real Deal