{"id":4345,"date":"2026-06-02T12:36:13","date_gmt":"2026-06-02T12:36:13","guid":{"rendered":"https:\/\/login9ja.com\/global\/see-why-libbie-mugrabis-hamptons-mansion-asks-25m-for-sale\/"},"modified":"2026-06-02T12:36:13","modified_gmt":"2026-06-02T12:36:13","slug":"see-why-libbie-mugrabis-hamptons-mansion-asks-25m-for-sale","status":"publish","type":"post","link":"https:\/\/login9ja.com\/global\/see-why-libbie-mugrabis-hamptons-mansion-asks-25m-for-sale\/","title":{"rendered":"See why Libbie Mugrabi&#8217;s Hamptons mansion asks $25M for sale"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/pagesix.com\/wp-content%2Fuploads%2Fsites%2F3%2F2026%2F06%2F129421864.jpg?quality%3D90%26strip%3Dall\" \/><\/p>\n<div>\n<p>For the New York socialite\u00a0<a href=\"https:\/\/nypost.com\/2026\/05\/28\/us-news\/legendary-art-critic-accuses-nyc-socialite-libbie-mugrabi-of-not-returning-nearly-100-of-his-cartoons-worth-1k-each-suit\/\">Libbie Mugrabi<\/a>, a grand $100 million only seems to go so far.<\/p>\n<p>Mugrabi, who got that stack in <a href=\"https:\/\/nypost.com\/2018\/12\/15\/inside-nycs-messiest-multimillion-dollar-divorce\/\">her fractious divorce<\/a> from the billionaire art collector David Mugrabi, is trying to hold onto her Bridgehampton mansion after not paying anything on its $3.5 million mortgage.<\/p>\n<p>Her efforts to get the 7-acre estate back free and clear last week led to the property hitting the market for $25 million in a complex arrangement with her lender that includes contingencies if she declares bankruptcy.\u00a0<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>A 2010 image of Libbie and David Mugrabi, whose divorce led to a massive settlement. <span class=\"credit\">Patrick McMullan via Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Her Bridgehampton mansion listed in recent weeks for a cool $25 million, but there\u2019s more than meets the eye. <span class=\"credit\">Dennis A. Clark for NY Post<\/span><\/figcaption><\/figure>\n<p>While selling a house to get its deed back is unconventional, it\u2019s pretty much how Mugrabi rolls. In New York alone, she has been involved in 15 lawsuits over the last five years, court records show.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>A shell company affiliated with REO Assets of America of Great Neck, N.Y. sued\u00a0Mugrabi over the Bridgehampton property after she didn\u2019t keep up with mortgage payments. The company specializes in liquidating distressed real estate properties, with the REO in its name standing for \u201creal estate owned.\u201d<\/p>\n<p>The sale agreement doesn\u2019t give Mugrabi wiggle room. The estate, at 486 Middle Line Highway, must be sold by Aug. 25. If it does find a buyer, Mugrabi must pay the lender $5.5 million, plus $2,333 per day in interest and any penalties, court documents say.<\/p>\n<p>If there is no buyer, Mugrabi can\u2019t fight the property being foreclosed upon and herself being evicted, the accord states.<\/p>\n<p>Prospective buyers may watch the Aug. 25 deadline closely to see if any desperation kicks in between now and then and the property\u2019s price is cut. That may be okay, though. The estate is currently priced \u201cat the high end\u201d of its range, Mugrabi told The Post.<\/p>\n<p>And anything is better than the $500 her lender paid for her deed in a Zoom auction when Mugrabi fell behind in payments.<\/p>\n<p>By selling the Bridgehampton property, Mugrabi is letting go of one of the most expensive assets she got in her divorce five years ago. The split, called one of the nastiest in New York, featured an array of accusations, including the pair physically fighting over a $500,000 Keith Haring sculpture.<\/p>\n<p>The game plan for the Bridgehampton home does not include fisticuffs.\u00a0<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Mugrabi, as seen in this 2022 photo, hasn\u2019t paid the $3.5 million mortgage. <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The estate, at 486 Middle Line Highway, must be sold by Aug. 25. <span class=\"credit\">Dennis A. Clark for NY Post<\/span><\/figcaption><\/figure>\n<p>It aims to get the property sold at as full a price as possible, with Mugrabi using the proceeds to pay off the loan and penalties, get the deed back and transfer it as owner to the buyer, her attorney Claude Castro of Castro Law Group, said.\u00a0<\/p>\n<p>Mugrabi is coming into the arrangement with a clean slate, so to speak. \u201cI never paid a thing\u201d on the mortgage, she said, adding she doesn\u2019t necessarily have to use the sale proceeds for the payoff.<\/p>\n<p>As originally structured, the loan carried a 6.65% interest rate through an entity affiliated with REO Assets of America.<\/p>\n<p>After Mugrabi defaulted, the affiliate bought the property last year for $500 at a Zoom auction, at which it was the only bidder. The Bridgehampton estate was valued between $12 million and $18 million at the time, property records show. While sales of defaulted properties are regularly done at deep discounts, the 99.997% markdown to $500 is quite steep.<\/p>\n<p>The way the auction was handled is one of the issues Mugrabi cites in her court filings and is part of an overall process she characterizes as \u201cfraud,\u201d among lots of other descriptors.\u00a0<\/p>\n<p>This is not Mugrabi\u2019s <a href=\"https:\/\/nypost.com\/2023\/04\/12\/judge-orders-nyc-socialite-libbie-mugrabi-to-pay-1-8m-in-unpaid-rent-case\/\">first legal tussle<\/a> involving her residences. Two years ago, a Manhattan judge ordered her to pay $1.8 million to cover back rent and utilities on an opulent Yorkville home she had occupied.<\/p>\n<p>That dispute involved a $28,800-a-month East 82nd Street condo. Mugrabi says the judge\u2019s order has since been rescinded, although a search for legal filings related to that decision didn\u2019t show any results.<\/p>\n<p>For the Bridgehampton property, if Mugrabi files for bankruptcy before the Aug. 25 deadline, a clause allows the lender to bypass standard bankruptcy protections and take immediate action, including foreclosure and eviction.\u00a0<\/p>\n<p>The clause is included in more than 1,000 pages of claims and counter claims as the case ambled its way through Suffolk County Supreme Court over the past two years.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Two years ago, a Manhattan judge ordered her to pay $1.8 million to cover back rent and utilities on an opulent Yorkville home she had occupied. <span class=\"credit\">WireImage<\/span><\/figcaption><\/figure>\n<p>She added that she never saw the pink auction notices that a processor said in testimony he put on the \u201cfront door and all of the home\u2019s other entrances and exits.\u201d\u00a0<\/p>\n<p>The lender says in its legal filings that it acted according to the law every step of the way. The company\u2019s attorney, Ryan Mitola of Vallely, Mitola and Ryan, declined to talk about the case, saying he was not authorized.<\/p>\n<p>The lawsuit includes Mugrabi\u2019s demand for $15 million as a way of recouping costs already associated with the case, including default interest levied at 25% a year, plus huge legal fees.<\/p>\n<p>That $15 million claim is now off the table as the two sides try to settle, and both sides have agreed to pay their respective attorney\u2019s fees.\u00a0<\/p>\n<p>Amid the cacophony of legal filing sits an East End property that is actually rather pastoral.<\/p>\n<p>For the $25 million, the buyer gets a 17-room luxury home that stands amid acres of rambling lawns surrounded by woodlands.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The mansion spans roughly 11,000 square feet and is surrounded by acres and acres of woods. <span class=\"credit\">Dennis A. Clark for NY Post<\/span><\/figcaption><\/figure>\n<p>The 10,687-square-foot spread includes six bedrooms, a similar number of bathrooms and several fireplaces.\u00a0<\/p>\n<p>Lofty ceilings, glass walls and high-end flooring mark its interior. A theater, a climate-controlled wine cellar, a library and an office are all within.\u00a0<\/p>\n<p>Outside, a pool and spa, a pool house, two pickleball courts and another sports court tuck into a resort style layout.<\/p>\n<p>Once the claims involving the estate are all settled, Mugrabi says she is moving away from New York, and all the \u201chardships\u201d she said she has experienced here. \u201cIt\u2019s over and out for me,\u201d she said.<\/p>\n<p>But the judge in the case, David Reilly, indicates Mugrabi might want to hold off packing her bags.<\/p>\n<p>While pleased that the two sides have come up with a plan, \u201cI\u2019m going to be more pleased when I hear that it actually worked,\u201d Reilly said.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/nypost.com\/2026\/06\/02\/real-estate\/see-why-libbie-mugrabis-hamptons-mansion-asks-25m-for-sale\/\" target=\"_blank\">Source link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the New York socialite\u00a0Libbie Mugrabi, a grand $100 million only seems to go so<\/p>\n","protected":false},"author":1,"featured_media":4346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment"],"jetpack_featured_media_url":"https:\/\/login9ja.com\/global\/wp-content\/uploads\/2026\/06\/129421864.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/posts\/4345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/comments?post=4345"}],"version-history":[{"count":0,"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/posts\/4345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/media\/4346"}],"wp:attachment":[{"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/media?parent=4345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/categories?post=4345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/login9ja.com\/global\/wp-json\/wp\/v2\/tags?post=4345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}