Libbie Mugrabi disputes court-ordered auction of Hamptons mansion

Socialite Libbie Mugrabi is disputing reports that her Hamptons mansion will be sold in a court-ordered auction on August 28. The auction was mandated to recover a $3.5 million loan secured against the property.

Mugrabi has characterized the news of the sale as “fake news,” asserting that she is currently in the process of refinancing and negotiating a settlement with her creditors. She stated that she has fired her previous brokers and is working on obtaining a new loan to settle her debts.

The property, which Mugrabi retained following her 2020 divorce from billionaire art dealer David Mugrabi, was initially listed for $25 million in May. The asking price was later reduced to $19 million, but the home did not sell. The court-ordered auction is scheduled to begin with bids starting at $11 million.