Toy mogul sues realtor over Bezos mansion sale in Miami

Leo Kryss, co-founder of Tectoy, sold his Miami mansion for $79 million to Jeff Bezos, but claims he was misled by his realtor, Douglas Elliman, regarding the buyer's identity. Kryss alleges that he specifically inquired if Bezos was the buyer and was told he was not, which influenced his decision to accept a lower offer of $6 million below the asking price. The lawsuit, filed in Miami-Dade County, argues that this misrepresentation was significant to the negotiations, as Bezos already owned adjacent property, making the purchase more valuable to him. Kryss's complaint highlights that had he known Bezos was the buyer, he would not have reduced the sale price. The lawsuit seeks damages exceeding $750,000, citing breach of contract and negligent misrepresentation by the brokerage. The CEO of Douglas Elliman, Jay Parker, allegedly assured Kryss that the buyer would not pay more than the asking price, which further led to Kryss's decision to lower the price. The brokerage earned a commission of over $3 million from the sale, raising questions about their duty to disclose critical information to their client. Dana Clayton, representing Kryss, stated that the brokerage failed to fulfill its responsibilities and misrepresented important facts regarding the buyer's identity. As the case unfolds, it underscores the importance of transparency in real estate transactions, particularly when high-profile buyers are involved. The outcome may have implications for how real estate brokers handle disclosures in future transactions, especially in high-stakes deals.