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New York

David Mugrabi’s former UES townhouse to hit the market as a rental

Billionaire art dealer’s former home will list for $95K per month

12 East 82nd Street and David Mugrabi

12 East 82nd Street and David Mugrabi (Google Maps, Getty)

David Mugrabi’s former Upper East Side townhouse is headed back to the market — as a rental. 

The home at 12 East 82nd Street— once at the center of the billionaire art dealer’s contentious divorce from ex-wife, Libbie Murgrabi — will be listed for $95,000 a month, the New York Post reported.

Mugrabi sold the 12,000-square-foot townhouse earlier this month for $41 million in an all-cash deal, property records show. The Post previously reported the buyer is an overseas art collector working in finance. 

The seven-story home listed for $52 million in December 2021, though it was originally valued at $72 million during the ex-couple’s 2018 divorce proceedings. An LLC funded by Mugrabi’s father bought the townhouse for $15 million in 2013, and David and Libbie spent $57 million on renovations in the following years.

The townhouse — which sits less than a block away from the Metropolitan Museum of Art — has four bedrooms and more than seven bathrooms. Each floor has a garden, rooftop terrace and terraces on each floor. 

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While the home’s red brick facade is in line with other historic townhouses on the block, the modern interior features a white spiral staircase topped by a skylight and a renovated kitchen with white cabinets, marble countertops and high-end appliances.

The Modlin Group’s Adam Modlin had the listing for the sale. Brown Harris Stevens’ Roberto Cabrera, who represented the buyer in the deal, will have the rental listing.

David and Libbie finalized their divorce settlement in 2020, ending what was known as one of New York City’s nastiest splits. Part of their agreement required Libbie to return 16 art works and two sports cars to David, who claimed she would not comply and took her back to court in the spring of 2021.

The Mugrabi family is known for their collection of works by Andy Warhol. The Mugrabis’ art portfolio was worth an estimated $5 billion when the former couple filed for divorce.

— Sheridan Wall

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