Brave are the artists who seek to remake or adapt an icon, braver still those who mount such attempts with something as universally cherished as It’s a Wonderful Life. A modest jewel of a show bearing the same name at New York City’s Irish Repertory Theatre—playing until Dec. 31—succeeds in its mission by mounting something extremely small-scale, short (just 70 minutes), polished, and lovingly crafted.

The charm of Anthony E. Palermo’s witty reimagining of Frank Capra’s classic 1946 movie is in the simple, precise execution of the project (first staged in 2015), and the ensemble talents of its cast: Rufus Collins, Ali Ewoldt, Reed Lancaster, Ashley Robinson, and Leenya Rideout.

With a fully decorated Christmas tree beside the stage (lovely, but not just there to make the audience feel f

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