Real estate executive pays $18M for Palm Beach mansion designed by Mizner

A company led by Canadian real estate executive Lawrence P. Morassutti paid $18.25 million for an oceanfront mansion in Palm Beach designed by famed architect Addison Mizner. The 7,377-square-foot home at 89 Middle Road was sold by 89 Middle Road LLC, owned by Peter Wood, head of British insurance giant Esure Group, to Mora Middle Investments, managed by Morassutti in Toronto. The buyer obtained a $7.75 million mortgage from Coral Springs-based Audita Lender. The deal covered 1.03 acres, with about…

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