New Jersey homebuilder buys Boca Raton mansion for $17M


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.

The home was built…

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