Residential
Tri-State
Brandon Miller’s widow lists debt-ridden Hamptons estate for $15M
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Brandon Miller left behind $34M in personal debts
Real estate developer had only $8K in bank when he died by suicide
A photo illustration of the late Brandon Miller along with 25 Cobb Isle Road (Getty)
Brandon Miller had almost $34 million in debt and just $8,000 in his bank account when he died by suicide last month, legal documents show.
About $11.5 million of the debt was tied to mortgages on his Hamptons estate, according to a bond petition filed in surrogate’s court by his widow, Candice Miller. The Water Mill property at 25 Cobb Isle Road hit the market this month with an asking price of $15.5 million.
Miller had four outstanding loans on the property, including $800,000 from bridge lender Titan Capital, which sued Candice Miller last month over missed mortgage payments. Miller owed Titan another $2 million on the property and had outstanding loans from UBS and Stevens Financial Group.
Miller’s largest debt was an unsecured $11.3 million loan from Chicago-based BMO Bank. He left an additional $6.1 million in unsecured debt from Donald Jaffe, who had funded the developer and his father, Michael Miller, on several projects and sued Brandon Miller in 2019 for the unpaid balance on the loan. Jaffe is still trying to recoup his money.
Other unpaid debts include over $300,000 owed to American Express and $266,000 to Funding Club, a Brooklyn-based cash advance lender.
Miller died with personal property worth about $330,000, according to the filing. That includes furniture, clothing and personal items.
Miller also owed $1.6 million to DIA Family Holdings, an entity tied to private investor Douglas Teitelbaum, and $85,000 to the Daniel Erlich Schmerin Revocable Trust.
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The $33.6 million in unpaid personal debts does not include loans he took out under his commercial real estate firm, Real Estate Equities Corporation, that may have been personally guaranteed.
Miller died July 3 at Stony Brook Southampton Hospital, leaving behind a tangled web of unfinished real estate projects and delinquent payments.
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