Morris Flancbaum, president of New Jersey custom homebuilder Colt Neck Associates, and wife Susan Rizzuto paid $16.5 million for a mansion on the Intracoastal Waterway in Boca Raton.
Joseph H. Perez sold the 18,707-square-foot home at 250 N.E. Fifth Ave. The price equated to $882 a square foot.
The home last traded for $9.75 million in 2012.
It has seven bedrooms, eight bathrooms, two half-bathrooms, a pool, two docks, marble floors, and second-floor balconies facing the water.
