First Coast Sotheby’s International Realty has acquired a St. Augustine-based company, expanding its presence in the Nation’s Oldest City.
Earlier this month, the firm announced its acquisition of Saltwater Property Group, which has brought in more than $22 million in sales revenue since its inception 15 years ago.
“The reason that we did this was because the St. Augustine market has been so well-crafted and positioned for growth, and doing it in a very responsible way, that we wanted to be a part of that and expose the properties there to a wider audience and bring luxury service to the community,” said Lou Izzo, First Coast Sotheby’s managing partner and chief executive officer.
Indeed, Sotheby’s — which was started in 1744 in London, England — operates in 72 countries and has more than 1,000 real estate offices. Among its Northeast Florida offices is one in Ponte Vedra.
“We expose properties communitywide, statewide and regionally, nationally and internationally,” said Izzo. “We really don’t leave any stone unturned in marketing homes for our sellers.”
Saltwater Property Group owner Joe Hatin will remain as broker-associate.
“First Coast Sotheby’s International Realty brings a whole new level of service and excellence to our agents and clients,” Hatin said. “Sotheby’s International Realty is a globally recognized leader in luxury real estate, and the acquisition will enable us to continue our commitment in meeting and exceeding customer expectations thanks to the brand’s unrivaled international network, powerful marketing tools and the highest level of customer service.”
Izzo said every member of the Saltwater group’s staff has been retained.
“The agent group and the staff at Saltwater Property were outstanding people that we knew would fit into our culture and be part of our team,” said Izzo.
The Sotheby’s name is immediately recognizable for its association with unique treasures.
“The brand has been built on a commitment to marketing the world’s most valuable possessions and selling them at the highest price that they can possibly be sold for,” said Izzo.
It’s a philosophy that extends to the company’s real estate market.
“That’s our commitment,” said Izzo.
