real estate news

Brazilian Businessman Sues Realtor Over $79 Million Mansion Sale to Jeff Bezos

By GeoSquare News Desk · Published 2024-09-14

A Brazilian businessman is taking a real estate firm to court over the sale of his Miami Beach mansion, alleging that he was misled about the buyer's identity and lost out on a potential $6 million.

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.