The businessman, who owns a luxury property in London, had sold his £61 million mansion for a significant discount, but he was surprised to learn the identity of the buyer. Leo Kryss’s story is a case study in how the opaque nature of the luxury property market can create uncertainty and potentially lead to issues like this one. The opaque nature of the property market, where deals are often shrouded in secrecy, can leave buyers and sellers feeling vulnerable.
A. Modern Luxury in Bel Air
B. The Ultimate Bel Air Estate
C.
The property, located in the exclusive enclave of Bel Air, California, boasts a sprawling 1.25-acre lot and a luxurious interior. The mansion’s design is characterized by a blend of modern and traditional elements, creating a unique and sophisticated aesthetic. The interior features a grand foyer, a gourmet kitchen, a spacious living room, and a luxurious master suite.
Read more: Jeff Bezos and Lauren Sanchez get engaged after ‘proposal on his $500m superyacht’ Read more: Disney-themed house featuring ‘unhinged’ decor and floor-to-ceiling murals goes up for sale for £180,000 The estate agent also said over the phone that the bidder would not increase his offer of $79 million. Mr Kryss agreed to the $6 million (£4.6 million) discount, and the sale went through. But he is said to have been shocked to learn later that he had sold his property to an entity linked to Mr Bezos – and is suing Douglas Elliman. Mr Kryss said in a legal filing that if he had known that the buyer was effectively Mr Bezos, he would have been less likely to consent to the reduced sales price, the Wall Street Journal reported.
His lawsuit read: “It was highly material to his negotiations and his decision on the ultimate sales price to know whether Bezos was attempting to anonymously acquire the home in order to assemble it with the adjoining property”. Mr Kryss’ lawyer said: “Douglas Elliman failed to fulfil their duties to our client. “They knew or should have known who the ultimate beneficial purchaser was and misrepresented that very important fact to our client.” Indian Creek is an exclusive neighbourhood near Miami. Picture: Alamy Douglas Elliman declined to comment. Indian Creek is an island in Biscayne Bay, between Miami and Miami Beach.
It has around 40 homes, with residents including Ivanka Trump and Jared Kushner, NFL star Tom Brady and DJ David Guetta.
