With its founders joining Town Residential, the boutique real estate firm Mark David & Company said last month it will wind down its business.
The cofounders, CEO Mark David Fromm and COO Claudia Saez-Fromm, have joined Andrew Heiberger’s expanding brokerage as senior vice presidents.
Heiberger told The Real Deal that the married duo had sought out a partnership with Town in order to better leverage their firm’s sales acumen. Mark David has primarily been known as a rental brokerage, he said. “This is a decision of strength,” he said, “not of weakness.”
Town 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.
Fromm will be based out of Town’s Astor Place office, while Saez-Fromm will work out of the company’s Flatiron District office.