After Discovering The Identity of The Famous Person Who Purchased His Home, Man Sues His Realtor for $6M

When selling luxury properties, sellers expect transparency and honesty, especially when dealing with multi-million-dollar homes. But for Leo Kryss, an electronics tycoon, discovering his buyer’s identity led to a lawsuit against his realtor for $6 million. The buyer? None other than Amazon founder Jeff Bezos, one of the richest men in the world.

The $79 Million Sale That Sparked a Lawsuit

Leo Kryss was initially pleased with the sale of his Miami mansion on the exclusive Indian Creek Island for $79 million. However, after discovering the identity of his buyer—Amazon billionaire Jeff Bezos—he was far from happy. Kryss alleges that his realtor, Douglas Elliman, intentionally withheld Bezos’ identity during the negotiation process and convinced him to accept a price $6 million below his asking price of $85 million.¹

Kryss claims that had he known Bezos was the buyer, he could have secured the full asking price or more. “It was highly material to his negotiations and his decision on the ultimate sales price,” the lawsuit states.²

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Who Is Leo Kryss?

Leo Kryss, who made his fortune in the Brazilian electronics industry, is no stranger to high-stakes deals. He bought the seven-bedroom mansion on Indian Creek Island for $28 million in 2014 and expected its high-end features, including a wine cellar, library, theater, and pool, to help secure the $85 million price tag.

With the home on an island dubbed “Billionaire Bunker,” Kryss believed there was ample justification for his original asking price. After all, the area is known for housing the ultra-wealthy, including Tom Brady and Ivanka Trump.

Indian Creek Island: The “Billionaire Bunker”

Indian Creek Island, where Kryss’ mansion is located, is one of the most exclusive communities in the world. The 41-home island is patrolled by a private police force and is accessible only via a guarded bridge. With an average home price of $29.5 million, it’s a realtor’s dream location to sell in. The island is home to some of the world’s richest individuals, including Bezos, who had already purchased a neighboring home for $68 million just weeks before Kryss’ sale.

Bezos’ purchase of Kryss’ mansion only added to his growing property portfolio, which now includes multiple properties on Indian Creek Island.

The Importance of Knowing the Buyer’s Identity

Kryss claims that knowing Bezos was the buyer could have significantly impacted the negotiation process. When asked directly if Bezos was behind the offer, Kryss says his realtor flatly denied it. Bezos, who has a history of assembling properties into mega-mansions, was reportedly interested in acquiring Kryss’ mansion to combine it with his other estate next door.

This information would have been critical in Kryss’ decision-making process, potentially allowing him to leverage Bezos’ desire for the property to drive up the price.

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Realtor Under Fire

Douglas Elliman, the realtor who handled the sale, finds himself at the center of the lawsuit. Kryss’ legal team argues that the firm, which acted as a dual agent for both buyer and seller, failed to act in Kryss’ best interest by withholding crucial information. The company received a 4% commission, amounting to about $3 million from the sale.

Kryss’ lawyer, Dana Clayton, stated, “They knew, or should have known, who the ultimate beneficial purchaser was and misrepresented that very important fact to our client”.

Bezos’ Expanding Property Portfolio

Jeff Bezos’ purchase of Kryss’ home is part of a broader trend of property acquisitions by the Amazon founder. Over the past few years, Bezos has been on a real estate buying spree, amassing properties in some of the most exclusive neighborhoods in the U.S. From his sprawling Washington, D.C. mansion to his multi-million-dollar estates in Hawaii and New York City, Bezos’ property portfolio is worth over $600 million.

His acquisition of multiple homes on Indian Creek Island, known as the “Billionaire Bunker,” has further cemented his presence in the ultra-wealthy community.

A Real(i)ty Check

Leo Kryss’ lawsuit against his realtor highlights the complexities of high-end real estate deals and the importance of transparency. While Kryss made a hefty profit from his mansion’s sale, the discovery of Jeff Bezos as the buyer has sparked a legal battle that could set a precedent for future multi-million-dollar transactions. Only time will tell how this lawsuit plays out in court.

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