Libbie Mugrabi Loses Bridgehampton Home in Dramatic Auction
A saga revolving around a socialite’s Hamptons home came to a stunning conclusion at a recent auction.
Henry Ikezi, who waged a failed bid to unseat Queens borough president Donovan Richards last year, won an auction for Libbie Mugrabi’s 11,000-square-foot Bridgehampton home at 486 Middle Line Highway, the New York Post reported. Ikezi’s winning bid was $5.86 million.
The auction, which unfolded last month, was full of twists and turns, complete with locals and Town Hall employees gawking at the scene.
Mugrabi’s sister, Mia Rowe, initially seemed to have claimed the winning bid with $7.8 million. But after leaving the auction, supposedly left to go to a bank to get a check for the deposit, she never returned. A family friend of the Mugrabis also warned Libbie would “never leave that house.”
Ultimately, Ikezi’s brother, Stanley, submitted the winning bid and put down the necessary deposit to end the event. Ikezi likely has between 30 and 45 days to close on the purchase, then needs to figure out how to get Mugrabi out if she doesn’t leave on her own volition.
Mugrabi did not return a request for comment from the outlet. Ikezi, who may have also been the rent-stabilized tenant evicted from his home a decade ago for trying to list it on Airbnb, declined to comment.
Mugrabi gained possession of the estate following a 2020 divorce settlement with billionaire art collector David Mugrabi. She claimed to have received $100 million in the split.
Mugrabi previously admitted to missing payments on a $3.5 million loan backing the Bridgehampton abode. The lender, an affiliate of REO Assets, started an ownership spat with Mugrabi, leading to an agreement that the socialite would sell the home by Aug. 25. She listed it for $25 million, but didn’t find a buyer.
Mugrabi’s lawyer says his client is behind by at least $9 million on the mortgage and owes even more when considering legal fees. She’s considering bankruptcy.
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