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Those are the options for the socialite Libbie Mugrabi after recently losing her luxe Bridgehampton estate in a humiliating auction to a hopeful Queens politician.
Court records reveal that Henry Ikezi, an investor who made a failed run for Queens borough president last November, has emerged as the winner of last month’s auction for Mugrabi’s 10,687-square-foot mansion, with a $5.86 million commitment. That sum is a far cry from the $25 million Mugrabi aimed to fetch earlier this year.
The purchase was made in Ikezi’s name, but it was his brother, Stanley, who appeared to be the one bidding at the auction and placing the required 10% down payment for the property on his behalf.
Depending on the legal structure of the sale, Ikezi has 30 or 45 days to complete his purchase, and then take over the property. If Mugrabi, who has lived at the estate throughout the court proceedings, refuses to leave, she can physically be evicted by Suffolk County sheriffs, per state law.
Ikezi, when contacted by The Post in the wake of the dramatic late-summer sale, said “no comment” when asked about the transaction or his plans for the property.
Mugrabi did not return requests for comment. Her mother, Jane Scher, said only that her daughter “is doing good.”
Ikezi has a net worth on paper of $23.4 million, based on his roughly 40% holdings of shares in Solidion Technology, an early-stage growth company developing advanced batteries. The company and its predecessor Honeycomb Battery Co., which was established in 2015, have never turned a profit and had generated minimal sales, filings with the Securities and Exchange Commission show.
Ikezi’s holdings in Solidion are through his own investments and those of investment vehicles he oversees. One of these vehicles was used to provide the down payment for Mugrabi’s home.
Outside of tech, Ikezi also serves as New York GOP State Committeeman for the 24th Assembly District covering parts of eastern Queens including Flushing and Queensboro Hill. He is also listed as a district leader with the Queens County Republican Party.
Ikezi ran for Queens Borough President last November, receiving roughly 30% of votes, with winner Donovan Richards getting about 70%.
Meanwhile, Mugrabi has used extensive litigation to try to hold onto the property she got as part of her late 2020 divorce settlement from the billionaire art collector David Mugrabi, son of the Israeli industrialist Jose Mugrabi.
Mugrabi previously claimed to The Post she got $100 million in the split, but that number is not verified.
The auction for her Bridgehampton property came after Mugrabi admittedly did not pay anything on a $3.5 million loan that used the property as collateral. The lender, an entity affiliated with REO Assets of America, Great Neck, N.Y., then took matters into its own hands and bought the 7-acre spread for $500 in an online auction in February 2025, at which it was the only bidder.
The subsequent outcry from Mugrabi and her attorney Claude Castro, of Castro Law Group, later led to a proposed settlement between the two parties. It gave Mugrabi a two-and-a-half-month window this year to sell the home through a public listing, with an agreement to allow the property to be disposed of by the lender immediately after her Aug. 25 deadline if she wasn’t successful.
The court-ordered auction provided over-the-top theatrics in a raucous display that had locals trying to get into Town Hall – as well as Town Hall employees — stopping to watch.
Mugrabi’s mother, Jane Scher, who attended the auction with her dog named Botox, told the lender’s attorney, Ryan Mitola of Vallely Mitola Ryan, “Your client is a d–k.”
The circus-like behavior extended to the bidders, including Mugrabi’s sister, Mia Rowe, who furiously raised her offer each time she was outbid and initially won with a $7.8 million commitment — but without a check in hand. After claiming she was going to a nearby Chase bank to retrieve $780,000 for the required deposit, she never returned.
Mugrabi, who wasn’t present at that August auction, has lived in the Bridgehampton home throughout the litigation and has made no qualms about wanting to hold onto it. A family friend at the auction emphasized her position telling bidders, “She’ll never leave that house.”
Castro has previously indicated to a court that he has discussed a bankruptcy filing with Mugrabi. While that action would open up another whole host of issues for her, it probably would not save her home.
Castro had told the court Mugrabi is in a $9 million-plus hole to cover repayment of the mortgage, penalties and at least $140,000 in legal fees she racked up after blowing off payments.
