A trust associated with Morris Flancbaum, a custom homebuilder and husband of Conair heiress Susan Rizzuto, has acquired an oceanfront mansion in Hillsboro Beach for $36.5 million. The purchase was made through His Land Banc Trust, managed by attorney Russell Macnow. The property, located at 1083 Hillsboro Mile, was sold by Deborah Tarrant.
This latest acquisition is adjacent to another property Flancbaum bought in 2021 for $21.8 million, bringing his total investment on the combined 3.7-acre parcel to $58.3 million.
Jonathan Potsma of Coldwell Banker Realty represented both the buyer and seller in the transaction.
Morris Flancbaum leads Colts Neck Associates, a New Jersey-based company specializing in custom homes developed in several towns across the state, including Marlboro and Colts Neck. Susan Rizzuto is the daughter 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 her siblings: Leandro Rizzuto Jr., Denis Rizzuto, and Babe Rizzuto. In recent years, members of the family have made significant real estate purchases in South Florida. In 2024, Leandro Rizzuto Jr. bought 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 but did not find a buyer.
Flancbaum and Susan Rizzuto have also been active investors in South Florida residential real estate; they sold a Boca Raton mansion for $22 million in 2021.
The 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. She and her late husband purchased the Hillsboro Mile property for $3 million in 1998. The mansion spans about 11,000 square feet with eight bedrooms, eight bathrooms, five half-bathrooms, as well as waterfront access on both the Atlantic Ocean and Intracoastal Waterway with a dock.
Deborah Tarrant recently moved to a smaller residence within Royal Palm Yacht & Country Club after buying it for $8.4 million last November.
This transaction is part of a series of high-value sales on Hillsboro Beach’s coastline this year; earlier this month car dealer Craig Zinn acquired a waterfront home there for $27 million while former Advanta CEO Dennis Alter sold his oceanfront mansion for $27.1 million last August.
