Trust of Alberto Mugrabi Buys Fourth Unit at Schumacher Condo

Prolific art collector Alberto Mugrabi is adding to his collection of luxury condos.  

A family trust tied to Mugrabi bought its fourth unit at the Schumacher, a luxury development at 36 Bleecker Street in Noho, for $8.6 million, property records show. The trust already owned the other three ground-floor units, which are maisonettes referred to as “mansion units,” two of which have been combined.  

Mansion Unit 1 last sold for $8.4 million in 2024. 

Developer Aby Rosen was listed as a trustee for all four of Mugrabi’s condos at the building. It’s not clear what Mugrabi has planned for his mini-condo assemblage, but a source familiar with the deals said Rosen is involved only in his capacity as a trustee.

Rosen had also previously been reported to have been in contract for one of the mansion units at the property, but property records show that a limited liability company tied to Mugrabi closed on Mansion Unit 4 for $6.9 million in 2016. The same LLC closed on Mansion Unit 2 and Mansion Unit 3 for $18.6 million in 2015. 

Mugrabi already combined Mansion Units 2 and 3, which he bought while in white-box condition from the developer, to create a roughly 9,000-square-foot triplex that wraps around the building’s central courtyard. 

The home has a windowless southern wall where Mugrabi planned to hang artwork, Douglas Elliman’s John Gomes, who had the sponsor listings, told the Wall Street Journal in 2013. Mugrabi also secured the right to display some of his sculptures in the courtyard.

In 2021, Mansion Unit 4 and Mansion Unit 2/3 were transferred to the same Mugrabi family trust that bought the final mansion unit. Last week, the trust also took out a $16.5 million mortgage on Mansion Unit 4 and Mansion Unit 2/3. 

The three units will cover more than 15,000 square feet. 

Developed by Stillman Development International, the Schumacher is a seven-story condo conversion of a former printing factory. Sales launched at the 20-unit building in 2013. 

Mugrabi, who comes from a family of art dealers, has been noted as Rosen’s personal art dealer in the past. The Mugrabi family, which includes father Jose and brother David, is thought to have around 800 works by Andy Warhol, one of the largest collections in the world. 

David Mugrabi has also made substantial property moves in recent years, selling his Upper East Side townhouse for $41 million in 2023. The home previously made headlines for being at the center of his infamous 2018 divorce with socialite Libbie Mugrabi.

Read more

Aby Rosen, Alberto Mugrabi buy at Schumacher

Schumacher’s showroom more gallery than sales office

Gasping for air: Aby Rosen tries to kill SL Green’s air rights deal in latest round of Madison Ave power struggle