Exclusive | Socialite Libbie Mugrabi loses Hamptons mansion at wild court-ordered auction after paying nothing on its $3.5M mortgage
Socialite Libbie Mugrabi lost her Hamptons mansion on the steps of Southampton Town Hall in a public, and wild, court-ordered auction held Friday morning — a rare occurrence in the tony East End. The auction pulled in just $5.864 million for the Bridgehampton estate — and was subdued compared with the cacophony of claims and counter claims that preceded it over the past two years.The winning bidder, who showed up Friday dressed to the nines with his wife, would neither comment on the purchase nor provide his name.
Mugrabi was not present at the sale.Some 10 interested bidders gathered for the auction, including Mugrabi’s sister, Mia Rowe, who initially won with a $7.8 million bid — but without a check in hand.After saying she was going to a nearby Chase to retrieve $780,000 for a deposit, she never returned.
That drew very loud objections from the other bidders, as interested parties had to appear with certified checks.A friend of Mugrabi’s family then turned to them and said, “This is a family matter.
She’ll beat any number you put out.”The sale wasn’t shy of other television-worthy drama.Also present was Mugrabi’s mother, Jane Scher — along with her dog named Botox — who told the lender’s attorney, Ryan Mitola, “Your client is a d–k.” Mugrabi, who famously landed a massive $100 million in a divorce settlement just six years ago, still finds herself in a $9 million-plus hole to cover repayment, penalties and at least $140,000 in legal fees she racked up after blowing off payments on the $3.5 million mortgage she took on the dwelling.Her inaction sparked a two-year legal donnybrook that led on Friday to her turning over the keys to the 7-acre Middle Line Highway estate, part of the settlement in her 2020 divorce from billionaire art collector David Mugrabi.
The auction’s proceeds will go toward paying off the loan, back interest and other costs.Mugrabi earlier attempted to sell the home through a public listing in the late spri...