This addition marks the brand’s first affiliated office in the country and its continued strategic growth in Europe.
Artmark Historical Estate will rebrand as Romania Sotheby’s International Realty. Romania Sotheby’s International Realty is owned and operated by Constantin Prisecaru, who has practiced real estate in Romania for seven years.
Monica Barbu is the chief executive officer for the company and brings more than 20 years of real estate industry experience in the region.
Romania Sotheby’s International Realty will serve the luxury and residential markets of Bucharest and the surrounding region.
“The modern real estate market in Romania continues to develop and flourish. We are seeing increased demand in Bucharest and its surrounding areas and the luxury market continues to expand as interest grows for holiday and weekend homes at the seaside or in the mountains,” said Philip White, president and CEO of Sotheby’s International Realty.
“Joining forces with Sotheby’s International Realty enables us to provide an added level of international exposure to our clients and listings. Our company culture is built on professionalism, heritage, and excellence. It was important that we aligned ourselves with a brand that values these same principles and one that actively works to highlight a property in its best light, bringing attention to landmarks, heritage, history, and architecture,” said Prisecaru.
Romania Sotheby’s International Realty is located in Bucharest with six sales associates. The company and its sales associates are actively involved in promoting Romanian heritage and continue to work to bring attention to historical buildings throughout the country including palaces, castles, manors, and century-old villas.
Artmark Historical Estate was a realty division of Artmark and had a portfolio of over 250 properties in 2019 worth approximately EUR200 million.