A friend who invested $1 million with Brandon Miller for a Brooklyn real estate development said he discovered through an internet search that the property had been sold to another developer.
The friend was one of three people at a Midtown meeting last fall who confronted Miller about his finances, causing Miller to break down in tears, according to a New York Times report. Miller died by suicide in July.
The Times reported that the friend seemed to believe Miller had intended to use the money as a business investment but that financial burdens clouded his judgment. Miller had inherited Real Estate Equities Corporation from his father, and the company’s portfolio was heavy on new office projects at a time when there was little demand for them.
The report also noted that a private equity firm that had lent Miller’s company $36 million to help finance an unspecified development tried to collect on the overdue repayment.
The revelation of the Brooklyn real estate deal came in a story that focused on the extravagant lifestyle that Miller’s wife Candice showed off on Instagram and in magazines against the increasingly grim backdrop of the couple’s finances.
Miller died at Stony Brook Southampton Hospital on July 3, three days after police responded to a carbon monoxide alarm at his Water Mill estate. He left behind a suicide note that referred to a failed business deal, according to the Times.
— Elizabeth Cryan
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