A toy company founder who sold his $79 million Miami mansion to Jeff Bezos for less than the asking price is now suing his realtor, alleging that the failure to disclose Bezos as the buyer-led to a reduced sale price.
Leo Kryss, co-founder of the Brazilian toy and electronics company Tectoy, claims that the real estate brokerage Douglas Elliman misled him and specifically denied that Bezos, his neighbor, was the buyer.
Kryss listed the seven-bedroom luxury home in Indian Creek Village, which features a wine cellar, library, theater, and pool, for $85 million in May 2023. By June, Bezos purchased a nearby 2.8-acre property for $68 million. Shortly after, Kryss received an offer for his home below the asking price.
According to a lawsuit filed in the 11th Judicial Circuit Court in Miami-Dade County, Kryss inquired if Bezos was behind the offer. Jay Parker, CEO of Douglas Elliman’s Florida region, personally assured Kryss that Bezos was not the buyer and that the offer would not exceed $79 million. Kryss proceeded to accept the lower offer, which was a 7.1% discount off the asking price.
The lawsuit alleges that Kryss relied on Parker’s assurances about the buyer’s identity, leading him to lower the sale price by millions. The complaint argues that if Kryss had known Bezos was the buyer, he would not have reduced the price or sold the property for $79 million.
Kryss also contends that knowing Bezos was acquiring the property to potentially combine it with his adjacent lot would have significantly impacted the home’s value.
Douglas Elliman earned a 4% commission from the sale, amounting to over $3 million, according to the lawsuit.
Dana Clayton, representing Kryss, stated: “Douglas Elliman failed to fulfill their duties to our client. The facts in our complaint reveal that they either knew or should have known the true identity of the buyer and misrepresented this crucial information to our client.”
The lawsuit seeks damages exceeding $750,000 for breach of contract, breach of duties, and negligent misrepresentation regarding the buyer’s identity.
Jeff Bezos, founder of Amazon, is currently the third richest person in the world, with an estimated net worth of $197.6 billion, according to Forbes.
