Brazilian Businessman Sues Realtor Over $79 Million Mansion Sale to Jeff Bezos
Leo Kryss claims Douglas Elliman misled him about the buyer's identity, losing him $6 million on the deal.
Jeff BezosReal EstateMansionLawsuitDouglas EllimanReal Estate NewsSep 14, 2024
Leo Kryss, co-founder of Tectoy, listed his seven-bedroom, 11 1/2-bathroom home in Indian Creek Village for $85 million. However, the real estate firm, Douglas Elliman, allegedly told him that the buyer would not pay more than $79 million.
What Kryss didn't know at the time was that the buyer was none other than Amazon founder Jeff Bezos. According to the lawsuit filed in July, Kryss asked Douglas Elliman's CEO, Jay Parker, if Bezos was the buyer, but was assured that he was not.
It wasn't until after the sale was finalized that Kryss discovered Bezos was indeed the buyer. Kryss claims that knowing Bezos was interested in the property would have impacted his negotiation and final sale price.
Wealthy buyers like Bezos often hide their identities to avoid driving up the price of the property. But Kryss argues that the mansion would be more valuable to Bezos due to his existing property holdings in the area.
Bezos' real estate portfolio includes properties in New York, Beverly Hills, West Texas, and Washington, DC. His net worth is estimated to be around $204 billion, making him the world's second richest person.
The lawsuit was filed in the 11th Judicial Circuit in Miami-Dade County. Kryss' Miami mansion is located in Indian Creek Village, a prestigious neighborhood that is home to prominent figures like Ivanka Trump and Tom Brady.
Douglas Elliman is a real estate firm that operates in several states across the US. The company was founded in 1911 and is headquartered in New York City.
Tectoy is a Brazilian technology company that was co-founded by Leo Kryss. The company is known for developing and manufacturing electronic games and toys.
Frequently Asked Questions
Who is the Brazilian businessman suing Douglas Elliman?
Leo Kryss, co-founder of Tectoy.
How much did Kryss sell his mansion for?
$79 million.
Who was the buyer of Kryss' mansion?
Jeff Bezos, founder of Amazon.
Why did Kryss claim he was misled by Douglas Elliman?
Kryss claims that Douglas Elliman assured him that Bezos was not the buyer, when in fact he was.
How much does Kryss claim he lost due to the alleged misrepresentation?
$6 million.
Related News Articles
Mumbai's Coastal Road Project Gets a Boost: Connector to Bandra-Worli Sea Link to Open Soon
Mumbai's Chief Minister Eknath Shinde has instructed the BMC to expedite the opening of the Mumbai coastal road and the Bandra-Worli Sea Link connector, aiming to reduce congestion and enhance connectivity
Unlocking Growth Potential: Raymond to Demerge Real Estate Business and List on Exchanges
Raymond Ltd to demerge real estate business and list on exchanges, unlocking value for shareholders and harnessing growth potential in the Indian property market.
Mumbai's Real Estate Boom: Office and Residential Markets See Significant Growth in H1 2024
Mumbai's office market witnessed a remarkable 79% year-on-year growth in H1 2024, while the residential market saw a 16% year-over-year increase in sales.
Goa RERA Appointment Quashed: HC Orders Induction of Retired Judge Vincent D'Silva
The Bombay High Court at Goa has set aside the State government's notification appointing retired District Judge Cholu Gauns as a member of the Goa Real Estate Regulatory Authority (RERA) and directed the appointment of retired District Judge Vincent D'Si
Aldona MLA Vows to Protect Goa's Forests and Hills from External Threats
Aldona MLA Carlos Ferreira has pledged to fight to protect Goa's forests, hills, and no-development zones from external threats, reassuring residents that he has no interest in real estate.
Real Estate Gift from Resident to NRI: Tax Implications and Reporting Obligations
If a resident parent gifts real estate to a non-resident son, does it trigger reporting obligations or have any tax implications?