Tycoon Leo Kryss sues Douglas Elliman for withholding Jeff Bezos’ identity as the buyer of his $79 million Miami mansion, claiming the realtor cost him $6 million in the sale.
Electronics Tycoon Sues Realtor for $6M Discount
Leo Kryss, a Brazilian electronics tycoon, is suing real estate company Douglas Elliman, accusing them of withholding crucial information during the sale of his Miami mansion. Kryss claims the realtor did not reveal that the buyer was Amazon founder Jeff Bezos, the world’s second-richest man, which led him to accept a $79 million offer, $6 million below the original asking price of $85 million.
The property, a sprawling 19,000-square-foot mansion on Indian Creek Island, also known as the “Billionaire Bunker,” was sold to Bezos in 2022. The island boasts high-profile residents, including Ivanka Trump and Tom Brady. Bezos had already purchased the neighboring house for $68 million just weeks earlier.
The Sale Controversy
According to Kryss, knowing the buyer’s identity would have been critical to his decision-making during negotiations, especially considering that Bezos was assembling multiple properties in the area. Kryss suspected Bezos was the buyer and asked Jay Parker, CEO of Douglas Elliman’s Florida division, directly. However, Parker allegedly denied it, stating that $79 million was the final offer.
Kryss, who made his fortune with Tectoy in Brazil, originally purchased the seven-bedroom mansion in 2014 for $28 million. He believed its luxurious features—including a wine cellar, theater, and pool—justified the $85 million asking price, especially given the rapid rise in property values on the exclusive island.
Indian Creek Island: The “Billionaire Bunker”
Indian Creek Island is one of the most exclusive neighborhoods in the world, featuring 41 properties with a median house price of $29.5 million. Accessible by a single guarded bridge and protected by a private police force, the island has attracted the likes of Jay-Z, Beyoncé, Jared Kushner, and Carl Icahn. Residents enjoy an 18-hole golf course and a private country club just eight miles from Miami’s South Beach.
Kryss learned that Bezos was the purchaser after agreeing to the reduced offer, and soon after, Bezos bought a third home on the island for $90 million. The Amazon founder now holds a property portfolio worth more than $600 million, with estates across New York, Washington, D.C., Beverly Hills, West Texas, and Hawaii.
Legal Battle
Kryss’s lawsuit, filed in the 11th Judicial Circuit in Miami-Dade County, argues that Douglas Elliman, who represented both the buyer and the seller, failed to fulfill their obligations by not disclosing the buyer’s identity. Kryss’s attorney, Dana Clayton, stated, “Douglas Elliman failed to fulfill their duties to our client. They knew, or should have known, who the ultimate buyer was and misrepresented that fact.”
Douglas Elliman earned a 4% commission on the sale, equaling approximately $3 million. The company has declined to comment on the lawsuit, but the case is expected to proceed in the Miami courts.
Bezos’ Expanding Real Estate Empire
This purchase is just one of several high-profile real estate acquisitions by Jeff Bezos. In addition to the Miami properties, Bezos owns a collection of lavish homes across the U.S. His recent purchases include a 14-acre estate in Maui, Hawaii, for $78 million and a former textile museum in Washington, D.C., bought for $23 million. In New York City, Bezos has combined five properties on Fifth Avenue to create a mega-mansion.
As the legal battle unfolds, Kryss hopes to recover the $6 million he believes was lost due to the realtor’s actions.
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