A trust linked to Morris Flancbaum, the custom homebuilder husband of Conair heiress Susan Rizzuto, bought an oceanfront Hillsboro Beach mansion for $36.5 million.
His Land Banc Trust, managed by attorney Russell Macnow, bought the house at 1083 Hillsboro Mile from Deborah Tarrant. The house is next door to a home Flancbaum bought for $21.8 million in 2021, records show. It brings his total spend on the 3.7-acre assemblage to $58.3 million.
Jonathan Potsma with Coldwell Banker Realty represented the buyer and seller.
Flancbaum is the head of New Jersey-based custom homebuilder Colts Neck Associates, which has developed homes in Marlboro, Colts Neck, North Howell, Brick, Manalapan, Millstone and Toms River, all in New Jersey. Susan Rizzuto is the daughter of Leandro P. Rizzuto, the late billionaire co-founder of hair products maker Conair. He was worth $3.5 billion when he died in 2017, according to Forbes.
She is a trustee of her father’s namesake foundation along with her siblings, Leandro Rizzuto Jr., Denis Rizzuto and Babe Rizzuto. In 2024, Leandro Rizzuto Jr. bought a home in Boca Raton’s Royal Palm Yacht & Country Club for $18.5 million. Babe Rizzuto bought an oceanfront compound in Jupiter Inlet Colony for $35 million in 2022, and she listed it for $55.6 million in 2023 but had no luck finding a buyer.
Flancbaum and Susan Rizzuto have invested in other South Florida homes. In 2021, they sold a Boca Raton mansion for $22 million.
Tarrant is the widow of early healthcare tech mogul Richard Tarrant. He sold his firm, IDX Systems, to GE Healthcare for $1.2 billion in 2005, according to published reports. The couple bought the Hillsboro Mile mansion for $3 million in 1998, property records show. The 11,000-square-foot house includes eight bedrooms, eight bathrooms, five half-bathrooms, 200 feet of oceanfront and 200 feet of Intracoastal Waterway frontage with a dock, the listing shows.
Deborah Tarrant downsized to a home in Royal Palm Yacht & Country Club for $8.4 million in November, records show.The sale marks the latest uber-expensive home sale in Hillsboro Beach, a sleepy stretch of coast just north of Pompano Beach. Earlier this month, car dealer Craig Zinn bought a waterfront mansion in the area for $27 million. In August, former Advanta CEO Dennis Alter sold his oceanfront mansion for $27.1 million.
