Legal dispute unfolds in realm of high-stakes real estate
Date
9/17/2024 8:35:29 AM
(MENAFN) In a legal dispute unfolding in the realm of high-stakes real estate, Brazilian businessman Leo Kryss is suing Douglas Elliman, the real estate agency involved in the sale of his luxury mansion, for allegedly hiding the identity of the buyer, Amazon founder Jeff Bezos. Kryss contends that had he known the true identity of the buyer, he would have secured a higher price for the property, potentially avoiding the USD6 million discount he agreed to.
The mansion in question, located on Miami’s exclusive Indian Creek island—a locale often referred to as the "billionaires’ bunker" due to its high-profile residents—was initially listed for USD85 million. Bezos, who ranks as the second-richest person globally with a net worth exceeding USD200 billion, acquired the property for USD79 million in October. The expansive estate spans 19,000 square feet and features luxurious amenities such as a wine cellar, a library, and a theater.
Kryss, a prominent figure in the Brazilian toys and electronics industry, alleges that Douglas Elliman, which represented both the buyer and the seller in the transaction, failed to disclose Bezos’s identity. According to court filings, Kryss had already speculated about Bezos’s involvement in the purchase, given that the billionaire had previously acquired a neighboring property for USD68 million in June of the same year. Despite his suspicions and inquiries, Douglas Elliman maintained that they had no knowledge of the buyer's identity.
Kryss, who purchased the mansion for USD28 million in 2014, asserts that the undisclosed identity of Bezos influenced his decision to accept a lower offer. He is now seeking legal redress from Douglas Elliman, arguing that the concealment deprived him of a potentially better financial outcome on the sale.
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