A trust associated with Morris Flancbaum, who is married to Conair heiress Susan Rizzuto, has acquired an oceanfront mansion in Hillsboro Beach for $36.5 million. The property was purchased by His Land Banc Trust, which is managed by attorney Russell Macnow. The seller was Deborah Tarrant.
The mansion is located at 1083 Hillsboro Mile and sits next to another home that Flancbaum bought for $21.8 million in 2021. With this latest purchase, Flancbaum’s total investment in the 3.7-acre assemblage now stands at $58.3 million.
Jonathan Potsma of Coldwell Banker Realty represented both the buyer and the seller in the transaction.
Morris Flancbaum leads Colts Neck Associates, a custom homebuilding firm based in New Jersey that has developed residential properties in several New Jersey towns including Marlboro, Colts Neck, North Howell, Brick, Manalapan, Millstone, and Toms River.
Susan Rizzuto is the daughter of Leandro P. Rizzuto, who co-founded hair products company Conair and had a net worth of $3.5 billion at his death in 2017 according to Forbes. She serves as a trustee of her father’s foundation alongside her siblings: Leandro Rizzuto Jr., Denis Rizzuto, and Babe Rizzuto.
Other members of the Rizzuto family have also made significant real estate investments in South Florida. In 2024, Leandro Rizzuto Jr. bought a home for $18.5 million in Boca Raton’s Royal Palm Yacht & Country Club while Babe Rizzuto purchased an oceanfront compound in Jupiter Inlet Colony for $35 million in 2022; she later listed it for sale at $55.6 million but did not secure a buyer.
Flancbaum and Susan Rizzuto have previously invested together in South Florida real estate as well—selling a Boca Raton mansion for $22 million in 2021.
The seller, Deborah Tarrant, is the widow of Richard Tarrant who founded IDX Systems and sold it to GE Healthcare for $1.2 billion in 2005 according to published reports. The Tarrants acquired the Hillsboro Mile property for $3 million back in 1998.
The house features approximately 11,000 square feet with eight bedrooms and eight bathrooms along with five half-bathrooms. It offers 200 feet each of oceanfront and Intracoastal Waterway frontage as well as a dock.
Deborah Tarrant recently moved into a smaller residence within Royal Palm Yacht & Country Club after purchasing it for $8.4 million last November.
This sale adds to a series of high-value transactions on Hillsboro Beach—earlier this month car dealer Craig Zinn bought a waterfront mansion there for $27 million while former Advanta CEO Dennis Alter sold his nearby oceanfront property for $27.1 million last August.
