In a shocking turn of events, Leo Kryss has slapped a lawsuit on real estate firm, Douglas Elliman, alleging that they intentionally concealed the fact that Jeff Bezos was the buyer of his extravagant $79 million mansion. Kryss claims that had he been aware of the billionaire’s interest, he could have easily demanded a higher price for his property.
Seeking justice for what he perceives as a potentially lost opportunity, Kryss insists that the real estate firm deliberately kept this vital information hidden from him. He asserts that his trust in Douglas Elliman has been shattered, as he now realizes that they prioritized their own profit over his best interests.
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In his lawsuit, Kryss claims he asked Douglas Elliman CEO Jay Parker point-blank if Amazon founder Jeff Bezos was behind the purchase. Parker allegedly “misleadingly assured Kryss that Bezos was not behind the offer and was not the purchaser,” according to the lawsuit, filed in July in the circuit court of the 11th Judicial Circuit in Miami-Dade County.
Parker also allegedly asserted that the buyer would not pay more than $79 million for the home, versus the $85 million listing price, the lawsuit claims.
Because of the assurance, Kryss allegedly agreed to discount the property’s price by $6 million, settling on the sale price of $79 million.
“But for these misrepresentations and in reliance upon [Parker’s] duties to deal honestly, fairly, and with due care towards T.A.M., Kryss would not have reduced the purchase price or sold the home for $79,000,000,” the lawsuit claims. T.A.M. refers to Tendencia Asset Management, the company that negotiated on behalf of Kryss.
Bezos is the world’s second richest person behind Elon Musk, with a net worth of $202 billion, according to the Bloomberg Billionaires Index. He didn’t immediately respond to a request for comment. Douglas Elliman declined to comment on the lawsuit.
A discount of $6 million represents about 0.006% of Bezos’s net worth.
Leo Kryss, the co-founder of Brazilian toy and electronics company Tectoy, bought the property at 12 Indian Creek Island Road for $28 million in 2014, according to the Wall Street Journal, which earlier reported on the lawsuit. The waterfront estate, built in 2000, is located in a neighborhood known as a haven for the ultra-wealthy, with neighbors including Ivanka Trump and Tom Brady, the Miami Herald notes.
It’s common for high-end properties to be bought by trusts or business partnerships on behalf of wealthy individuals, whose names might not be known to the real estate agents representing them. The lawsuit notes that a trust completed the purchase of Kryss’ mansion on behalf of Bezos.
Kryss speculated that Bezos might be behind the offer on his home because the Amazon founder had previously acquired 11 Indian Creek Island Road, a property adjacent to his mansion, the lawsuit notes.
It added, “Kryss believed that it was highly material to his negotiations and his decision on the ultimate sales price of the home to know whether Bezos was interested in his home and if Bezos was attempting to anonymously acquire the home in order to assemble it with the adjoining property that Bezos already purchased.”
Kryss’ property “would be significantly more valuable to Bezos than to other potential buyers,” the lawsuit claims.
Only time will tell how this high-stakes lawsuit will play out. For now, Leo Kryss is determined to hold Douglas Elliman accountable for what he sees as a clear breach of trust. As the scandal unravels, the real estate industry braces itself for the potential consequences of this surprising revelation.
