Just six weeks after developer Brandon Miller’s alleged suicide, a lender who financed several of his development projects is claiming his widow must pay the $3.6 million balance on a $5 million loan — and that she knew about the debt for more than two years.
The lender, Donald Jaffe, and his affiliated retirement trust entered Candice Miller’s confession of judgment in New York State Supreme Court on Thursday. A confession of judgment is a document that essentially waives the right to legal defense for the person who signs it, or in this case, requires the debtor to accept liability for a default in advance.
Candice Miller signed the confession in February 2022. A recent New York Times report on the tragedy said that she did not know about the couple’s debts until May of this year.
Jaffe had funded Brandon Miller and his father, Michael Miller, on several projects, including three in question now: a three-unit condo development at 137 Franklin Street in Tribeca and two Hamptons homes at 25 and 29 Cobb Isle Road in Water Mill. He also worked with the Millers and their company, Real Estate Equities Corporation, on other developments that appear to have gone according to plan, including 379 Ocean Road in Bridgehampton. Brandon and Candice bought into two of those properties: 25 Cobb Isle Road for $3.2 million in 2011 and a unit at 137 Franklin Street for $3.9 million in 2013.
Michael died in December 2016. In a suit three years later, Jaffe said Brandon was responsible for the unpaid balances on loans for the same properties, since his father had failed to repay the principals on their due dates.
They settled this suit in February 2022. In the agreement, Brandon agreed to pay predetermined installments twice a year for 10 years on a total amount of $5 million.
Candice also entered into the agreement, according to Jaffe’s affidavit.
As part of the settlement, Candice signed the confession of judgment that put her on the hook for a maximum of $4 million in the case of her husband’s default.
Brandon paid $385,000 before missing both the February and August 2023 payments, according to Jaffe’s affidavit. He officially defaulted in November of 2023 — just weeks before he allegedly met with friends who confronted him about his finances, according to the Times report. One of those friends had invested $1.5 million of his own and friends’ money with Brandon Miller for a development site that he later found out had been sold to another investor.
The Times also reported that a private equity firm that had lent Miller’s company $36 million was trying to collect on overdue payments. Another lender, Titan Capital, sued Candice for $800,000 in missed mortgage payments on the Hamptons home in July. Candice listed the house for $15.5 million earlier this month.
Lawyers for both Candice and Jaffe declined to comment.
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