Mark David phases out operations as co-founders move to Town Residential

The boutique real estate firm Mark David & Company will be winding down its business and closing out all remaining deals in the next several weeks following news that its co-founders, CEO Mark David Fromm and COO Claudia Saez-Fromm, have joined Andrew Heiberger’s expanding brokerage, Town Residential. Fromm and Saez-Fromm, both of whom will be senior vice presidents at Town, made the announcement to their team this morning, agents told The Real Deal.

Heiberger told The Real Deal that the two Mark David founders had sought out a partnership with Town in order to better leverage its sales acumen. Mark David has been primarily known as a rental brokerage, he said. “This is a decision of strength,” he said, “not of weakness.”

Town’s Director of Operations Matthew Van Damm said the firm will meet with each of Mark David’s agents to “determine the best course of action.” Some agents will be recruited to Town, while others, particularly those who are interested in specializing in rentals, will be assisted in their search for spots at other firms.  A decision about the brokerage’s physical office at 560 Broadway, which totals 4,000 square feet, has not yet been made. A spokesperson for Town said the move was not an acquisition.

According to its website, Mark David has nearly 70 agents. As well as residential sales, the company also has investment sales and commercial leasing divisions. “In their 10 years at the helm of Mark David & Company, Mark and Claudia created an impressive local presence throughout Manhattan and Brooklyn, from the ground up,” Heiberger said.“Today, they boast an incredible book of business with an extensive relationship network.”

Mark David Fromm will be based out of Town’s Astor Place office, while Claudia Saez-Fromm will work out of the company’s Flatiron District office. The married duo founded Mark David in 2003, according to its website. They declined to comment on what their move would mean for agents at Mark David.