Libbie Mugrabi has no intention of losing her home.
A judge has ordered the mansion to be sold in an auction from the steps of Southampton town hall on August 28 to recoup a $3.5 million loan the socialite took out against it.
But Mugrabi tells us the sale isn’t going to ahead — because she’s working on getting another loan to square things up.
But she put it in the patented Mugrabi style.
“There is not a court-ordered sale. [That’s] fake news. We agreed to settle and I need a little more time as I fired my broker,” said the colorful Uptown figure, who finalized her divorce from billionaire art dealer David Mugrabi in 2020. She claimed to have worked out some kind of deal with her creditors.
“I’m in the process of refinancing… I’m in the middle of doing a loan… I can’t sell it,” she said, “My brokers are no good.”
She listed the home — which she kept in the divorce — in May for $25 million. It was dropped to $19 million soon after, but still didn’t sell.
Then last month a court ordered it to go on the auction block with bids starting at $11 million.
When we called Libbie — who married the art world scion in 2004 — about the debacle, she said she had to rush off the phone because “my hair extension lady is here.”
Then she tried to put her colorist on the phone with us. “Tell [Page Six] what are you doing,” she told the hair pro, “You have to tell him. He’s a reporter. He might put this in the story.”
After finishing up with her hair appointment, Mugrabi called back 20 minutes, assured us she’s a “really nice person” and inexplicably proclaimed, “I really get along with Black people. I love Black people.”
Despite her cries of “fake news,” her home is still scheduled to be auctioned at 11 a.m. on the steps of Southampton Town Hall on Aug. 28, as of Thursday afternoon. Her lawyers will appear in court the day before the auction to ask for more time to pay off her debt.
‘”I’m not afraid. I’m a business woman. I did a bad business deal and that’s it. This media circus has destroyed the sale of my house… I’m hoping for justice in the court,” she concluded.
In May, critic and artist Anthony Haden-Guest sued Libbie, claiming that she has been displaying nearly 100 of his cartoons at the Southampton home for 15 years, even though he’s asked her a number of times to give them back. (She has called the suit “bogus”).
Meanwhile, she’s also locked in a legal battle with a firm that loaned her money using a 1982 Basquiat painting as collateral.
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