A homeowner who sold a mansion in the Miami area for $6 million less than the asking price is now suing the realtor who handled the transaction for failing to reveal that the buyer was Amazon founder Jeff Bezos.
Leo Kryss, co-founder of Brazilian toy and electronics company Tectoy, listed his seven-bedroom waterfront property in May 2023 for $85 million. In July of that year, Kryss received a $79 million offer for his mansion.
At the time, Kryss said he suspected Bezos to be behind the offer, especially after the Amazon founder bought the neighboring property for $68 million in June. However, Douglas Elliman's CEO Jay Park called and assured Kryss that Bezos was not the buyer, leading him to agree to cut the asking price by $6 million, per the lawsuit.
Once the transaction was closed, Kryss learned that the buyer, Bezos, bought the property through an entity. He is now suing the realtor for failing to disclose the fact, adding that he would not have agreed to the price cut had he known the Amazon founder made the offer. Elliman received over $3 million in commissions.
The Wall Street Journal was the first to report about the suit.
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What Is Kryss Suing For?
In the lawsuit, Kryss said knowing Bezos was the buyer of his waterfront mansion would have been "highly material" to the negotiations and his decision-making. He also claimed the realtor's failure to disclose the buyer's identity cost him $6 million.
"Douglas Elliman failed to fulfill their duties to our client," Kryss' lawyer, Dana Clayton of Akerman, said. "They knew or should have known who the ultimate beneficial purchaser was and misrepresented that very important fact to our client."
Elliman's Response
Douglas Elliman has yet to comment on the lawsuit. However, it was noted in the court filing that Park sent an email to Kryss after closing. In the email, Park claimed he was also unaware that Bezos was the buyer. He also said he believed the family of Indian Creek Village mayor Benny Klepach was purchasing the property.
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