A trust associated with Morris Flancbaum, a custom homebuilder married to Conair heiress Susan Rizzuto, has purchased an oceanfront mansion in Hillsboro Beach for $36.5 million. The acquisition was made through Land Banc Trust, managed by attorney Russell Macnow. The property is located at 1083 Hillsboro Mile and was sold by Deborah Tarrant.
This purchase adds to Flancbaum’s real estate holdings in the area, as he previously bought the neighboring house for $21.8 million in 2021. With this latest transaction, his total investment on the combined 3.7-acre site now stands at $58.3 million.
Jonathan Potsma of Coldwell Banker Realty represented both parties in the deal.
Flancbaum leads Colts Neck Associates, a New Jersey-based firm that develops custom homes across several towns including Marlboro, Colts Neck, North Howell, Brick, Manalapan, Millstone, and Toms River.
Susan Rizzuto is one of the children of Leandro P. Rizzuto, the late co-founder of hair products company Conair who had an estimated net worth of $3.5 billion at his death in 2017 according to Forbes. She serves as a trustee for her father’s foundation along with siblings Leandro Rizzuto Jr., Denis Rizzuto, and Babe Rizzuto.
The family has been active in South Florida’s luxury real estate market: In 2024, Leandro Rizzuto Jr. acquired a home in Boca Raton’s Royal Palm Yacht & Country Club for $18.5 million; Babe Rizzuto purchased an oceanfront compound in Jupiter Inlet Colony for $35 million in 2022 and listed it for sale at $55.6 million last year without success; Flancbaum and Susan Rizzuto sold a Boca Raton mansion for $22 million in 2021.
Seller Deborah Tarrant is the widow of Richard Tarrant, an early healthcare technology entrepreneur who sold IDX Systems to GE Healthcare for $1.2 billion in 2005 according to published reports. The Tarrants bought the Hillsboro Mile mansion for $3 million in 1998. The residence spans about 11,000 square feet with eight bedrooms and eight bathrooms as well as five half-bathrooms; it also features frontage on both the Atlantic Ocean and Intracoastal Waterway totaling about 200 feet each plus a dock.
Deborah Tarrant recently moved to a smaller home within Royal Palm Yacht & Country Club after purchasing it for $8.4 million last November.
Hillsboro Beach continues to see high-value residential transactions: Earlier this month car dealer Craig Zinn paid $27 million for another waterfront mansion nearby while former Advanta CEO Dennis Alter sold his oceanfront property there for $27.1 million last August.
