Henry Ikezi, an investor who made an unsuccessful bid for Queens borough president last November, has emerged as the buyer of socialite Libbie Mugrabi's Hamptons mansion. The property sold at auction for $5.86 million, a fraction of the $25 million Mugrabi had initially sought.
Court records indicate that while the purchase was made in Ikezi's name, his brother, Stanley, acted as the bidder at the auction and provided the required 10% down payment. Ikezi has a period of 30 to 45 days to finalize the purchase and take possession of the 10,687-square-foot estate. If Mugrabi, who has continued to reside in the home amid legal proceedings, does not vacate, she faces eviction by Suffolk County sheriffs.
Ikezi declined to comment when reached by The Post regarding the transaction or his plans for the property. Mugrabi also did not respond to requests for comment, though her mother stated that she is "doing good."
Ikezi's financial standing is reportedly based on his approximately 40% stake in Solidion Technology, a company in the advanced battery sector that has yet to turn a profit or generate substantial sales, according to Securities and Exchange Commission filings. The down payment for the mansion was made through an investment vehicle managed by Ikezi.
Beyond his business ventures, Ikezi is involved in local Republican politics, serving as the New York GOP State Committeeman for the 24th Assembly District in Queens and as a district leader with the Queens County Republican Party. His previous run for Queens Borough President saw him secure about 30% of the vote.
Mugrabi acquired the Bridgehampton estate as part of her late 2020 divorce settlement from art collector David Mugrabi. She had reportedly claimed to have received $100 million in the settlement, a figure that has not been verified.
The auction followed Mugrabi's admission of non-payment on a $3.5 million loan secured by the property. The lender, an entity affiliated with REO Assets of America, had previously acquired the 7-acre property for $500 in an online auction in February 2025, being the sole bidder. A subsequent settlement allowed Mugrabi a window to sell the home publicly, with a provision for the lender to dispose of it if she failed to meet the August 25 deadline.
The auction itself was reportedly a tumultuous event, with onlookers and town employees present. Mugrabi's mother was seen in attendance, and her sister, Mia Rowe, engaged in a bidding war, initially winning with a $7.8 million bid but failing to produce the required deposit. Mugrabi, who was not present at the auction, had expressed a strong desire to retain the property, with a family friend reportedly stating she "'ll never leave that house."