Brandon Miller, a prominent real estate developer, was left with nearly $34 million in debt and only $8,000 in his bank account when he decided to take his own life, according to legal documents.
A significant portion of this debt was tied to his Hamptons property at 25 Cobb Isle Road, which is now for sale for $15.5 million.
His widow, Candice Miller, filed a bail petition detailing four outstanding loans on the property, including a $2 million mortgage from Titan Capital, which recently sued her for late payments.
In addition to the real estate debt, Miller had a substantial unsecured loan of $11.3 million from BMO Bank. In addition, he owed more than $6 million to Donald Jaffe, a lender who had previously financed Miller and his father on several projects. Jaffe is still pursuing legal action to recover the outstanding balance.
Other creditors include American Express and Funding Club, a Brooklyn-based cash advance lender, to whom Miller owed more than $300,000 and $266,000, respectively.
Brandon Miller, a prominent real estate developer, was left with nearly $34 million in debt and just $8,000 in his bank account after his suicide, according to legal documents
A significant portion of this debt was tied to his Hamptons property at 25 Cobb Isle Road, which is now for sale for $15.5 million.
In his suicide note, Miller explained that a last-minute, crucial business deal had fallen through and he felt he had no way out.
He The New York Times Miller also detailed two life insurance policies that could be used to pay creditors.
Miller committed suicide by inhaling exhaust fumes while his wife Candice was on tour in Europe with their two daughters.
The troubled Miller, 43, waited until his family left town for a week-long luxury vacation before getting into his car and running the engine until it filled the garage with toxic gas.
A wealthy friend arranged for Candice, 42, and her two daughters to fly back to the US on a private jet.
They arrived in time to say their final goodbyes before Miller was taken off life support at Stony Brook Southampton Hospital and pronounced dead on July 3, according to an informed source.
“They are wonderful, sweet girls who loved their father very much. This is absolutely devastating for all of them,” the source added.
Miller had been struggling to maintain the lavish lifestyle he and his wife enjoyed in the years before his death.
The couple had already been forced to sell their TriBeCa home and were renting a $47,000-a-month home on the Upper East Side to try to keep up appearances.
His widow, Candice Miller, has filed a bail petition detailing four outstanding loans on the property, including a $2 million mortgage from Titan Capital, which recently sued her for late payments.
In addition to the real estate debt, Miller had a substantial unsecured loan of $11.3 million from BMO Bank. In addition, he owed more than $6 million to Donald Jaffe, a lender who had previously financed Miller and his father on several projects. Jaffe is still pursuing legal action to recover the outstanding balance.
At the time of his suicide, Miller is estimated to have owed around $17 million.
He had been sued for at least $221,000 for various unpaid debts and had taken out a series of loans worth millions of dollars against the Hamptons estate.
Interior Marketing Group Inc sued Miller in April, alleging he failed to pay a balance of $102,730.27 for luxury decorating services, as reported by Page six.
The same lawsuit accuses Miller of refusing to return more than $64,000 worth of furniture from her Manhattan apartment.
In another lawsuit against Miller, filed in May, Lighthouse Marina claims he failed to pay the balance for services on his boat, named MillerTime, which had been in the Long Island marina since October 2020.
The Navy claims Miller never “responded to or acknowledged” an October 2022 notice informing him he owed nearly $40,000. Miller’s alleged debt eventually grew to $55,205.76, according to the legal filing.
Sources told the New York Times that Miller had begun crying openly in business meetings as he struggled to cope with mounting financial pressure.
He was found unconscious in the garage of the couple’s $15.5 million Hamptons home, which has since been put up for sale.
When his wife left for Europe, Miller was struggling to secure a $1,000 loan, a minuscule amount compared with the sums he was used to handling.
Friends said Miller encouraged his wife to take the vacation by assuring her that everything was paid for.
However, upon arrival, their credit card was declined and the family’s travel agent was forced to vouch for them, sources said.
Meanwhile, Miller was said to be at home trying to close a deal that could reverse his fortunes, but unfortunately it fell through.
Candice Miller has since put her Water Mill home on the market for $15.495 million and is said to be moving to Miami with her children before the new school year.
