Newmark (NMRK) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 08, 2021
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-38329
Entity Registrant Name	NEWMARK GROUP, INC.
Entity Incorporation, State	DE
Entity Tax Identification Number	81-4467492
Entity Address, Street	125 Park Avenue
Entity Address, City	New York
Entity Address, State	NY
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	372-2000
Title of Each Class	Class A Common Stock, $0.01 par value
Trading Symbol(s)	NMRK
Name of Each Exchange on Which Registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001690680
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information
Entity Common Stock, Shares Outstanding		191,248,868
Class B Common Stock
Document Information
Entity Common Stock, Shares Outstanding		21,285,533

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 170,752	$ 191,448
Restricted cash	74,453	66,951
Marketable securities	536,154	33,283
Loans held for sale, at fair value	1,200,192	1,086,805
Receivables, net	514,392	376,795
Other current assets (see Note 19)	115,228	63,790
Total current assets	2,611,171	1,819,072
Goodwill	651,695	560,332
MSRs, net	533,923	494,729
Loans, forgivable loans and other receivables from employees and partners, net	449,746	454,270
Right-of-use assets	642,825	190,469
Fixed assets, net	133,569	96,367
Other intangible assets, net	71,825	44,289
Other assets (see Note 19)	238,411	322,922
Total assets	5,333,165	3,982,450
Current liabilities:
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises	1,184,329	1,061,202
Accrued compensation	393,631	279,872
Accounts payable, accrued expenses and other liabilities (see Note 29)	579,966	326,548
Securities loaned	140,000	33,278
Payables to related parties	7,347	4,392
Total current liabilities	2,305,273	1,705,292
Long-term debt	544,615	680,385
Right-of-use liabilities	618,149	218,629
Other long-term liabilities (see Note 29)	218,516	436,952
Total liabilities	3,686,553	3,041,258
Commitments and contingencies (see Note 31)
Redeemable partnership interests	22,890	20,045
Equity:
Additional paid-in capital	482,715	351,450
Retained earnings	932,268	342,764
Accumulated other comprehensive loss	(2,292)	(2,094)
Total stockholders’ equity	1,255,783	655,049
Noncontrolling interests	367,939	266,098
Total equity	1,623,722	921,147
Total liabilities, redeemable partnership interests, and equity	5,333,165	3,982,450
Class A Common Stock
Equity:
Common stock value	1,907	1,676
Treasury stock at cost: 16,337,227 and 5,498,228 shares of Class A common stock at September 30, 2021 and December 31, 2020, respectively	(160,599)	(40,531)
Class B Common Stock
Equity:
Common stock value	212	212
Contingent Class A Common Stock
Equity:
Common stock value	$ 1,572	$ 1,572

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Treasury stock, shares issued (in shares)	16,337,227	5,498,228
Class A Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	190,744,565	167,604,348
Common stock, shares outstanding (in shares)	174,407,338	161,175,894
Treasury stock, shares issued (in shares)	10,968,037
Class B Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	21,285,533	21,285,533
Common stock, shares outstanding (in shares)	21,285,533	21,285,533

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenues		$ 788,126	$ 435,924	$ 1,921,977	$ 1,303,572
Expenses:
Compensation and employee benefits		444,408	253,908	1,274,879	784,684
Equity-based compensation and allocations of net income to limited partnership units and FPUs		33,963	50,769	315,743	74,544
Total compensation and employee benefits		478,371	304,677	1,590,622	859,228
Operating, administrative and other		152,363	61,790	394,546	215,083
Fees to related parties		5,664	6,109	17,696	17,126
Depreciation and amortization		28,883	29,627	80,804	104,613
Total operating expenses		665,281	402,203	2,083,668	1,196,050
Other (loss) income, net		102,720	108,608	1,187,322	73,657
Income from operations		225,565	142,329	1,025,631	181,179
Interest expense, net		(8,498)	(9,532)	(26,034)	(28,617)
Income before income taxes and noncontrolling interests		217,067	132,797	999,597	152,562
Provision for income taxes		53,811	33,272	206,572	38,158
Consolidated net income		163,256	99,525	793,025	114,404
Less: Net income attributable to noncontrolling interests		34,707	24,176	191,627	30,563
Net income available to common stockholders		128,549	75,349	601,398	83,841
Basic earnings per share
Net income available to common stockholders	[1]	$ 128,549	$ 72,101	$ 595,198	$ 75,703
Basic earnings per share (in usd per share)		$ 0.64	$ 0.40	$ 3.14	$ 0.42
Basic weighted-average shares of common stock outstanding (in shares)		199,413	179,501	189,317	178,527
Fully diluted earnings per share
Net income for fully diluted shares		$ 128,549	$ 103,623	$ 595,198	$ 110,422
Fully diluted earnings per share (in usd per share)		$ 0.63	$ 0.39	$ 3.06	$ 0.42
Fully diluted weighted-average shares of common stock outstanding (in shares)		205,281	266,793	194,320	265,104
Commissions
Revenues:
Revenues		$ 483,628	$ 197,903	$ 1,121,565	$ 639,303
Gains from mortgage banking activities/originations, net
Revenues:
Revenues		60,029	91,192	148,683	210,686
Management services, servicing fees and other
Revenues:
Revenues		$ 244,469	$ 146,829	$ 651,729	$ 453,583
[1]	Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 30, 2021, respectively, and $3.2 million and $8.1 million for the three and nine months ended September 30, 2020, respectively. (see Note 1 — “Organization and Basis of Presentation”).

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
NEWMARK Group Inc Parent
Reduction for dividends on preferred stock or units	$ 0	$ 3.2	$ 6.2	$ 8.1

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Consolidated net income	$ 163,256	$ 99,525	$ 793,025	$ 114,404
Foreign currency translation adjustments	(116)	(1,135)	(321)	(3,739)
Comprehensive income, net of tax	163,140	98,390	792,704	110,665
Less: Comprehensive income attributable to noncontrolling interests, net of tax	34,707	24,176	191,627	30,563
Comprehensive income available to common stockholders	$ 128,433	$ 74,214	$ 601,077	$ 80,102

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common StockClass A Common Stock	Common StockClass B Common Stock	Common StockContingent Class A Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning balance at Dec. 31, 2019	$ 940,625	$ (19,023)	$ 1,608	$ 212	$ 1,461	$ 318,165	$ (34,894)	$ 313,112	$ (19,023)		$ 340,961
Increase (Decrease) in Stockholders' Equity
Consolidated net income	114,404							83,841			30,563
Foreign currency translation adjustments	(3,421)									$ (3,421)
Dividends to common stockholders	(21,362)							(21,362)
Preferred dividend on EPUs	0							(8,138)			8,138
Earnings distributions to limited partnership interests and other noncontrolling interests	(44,609)										(44,609)
Grant of exchangeability, redemption and issuance	7,405		24			11,188					(3,807)
Issuance and redemption of limited partnership units including contingent units	907				(301)	315					893
Restricted stock units compensation	8,289					5,587					2,702
Redemption of EPU's	(93,480)										(93,480)
Other	382					700				(318)
Ending balance at Sep. 30, 2020	890,117		1,632	212	1,160	335,955	(34,894)	348,430		(3,739)	241,361
Beginning balance at Jun. 30, 2020	884,812		1,623	212	1,050	329,196	(34,894)	278,130		(2,604)	312,099
Increase (Decrease) in Stockholders' Equity
Consolidated net income	99,525							75,349			24,176
Foreign currency translation adjustments	(1,135)									(1,135)
Dividends to common stockholders	(1,799)							(1,799)
Preferred dividend on EPUs	0							(3,250)			3,250
Earnings distributions to limited partnership interests and other noncontrolling interests	(6,530)										(6,530)
Grant of exchangeability, redemption and issuance	5,279		9			4,525					745
Issuance and redemption of limited partnership units including contingent units					110	(110)
Restricted stock units compensation	3,366					2,265					1,101
Redemption of EPU's	(93,480)										(93,480)
Other	79					79
Ending balance at Sep. 30, 2020	890,117		1,632	212	1,160	335,955	(34,894)	348,430		(3,739)	241,361
Beginning balance at Dec. 31, 2020	921,147		1,676	212	1,572	351,450	(40,531)	342,764		(2,094)	266,098
Increase (Decrease) in Stockholders' Equity
Consolidated net income	793,025							601,398			191,627
Foreign currency translation adjustments	(321)									(198)	(123)
Cantor purchase of Cantor units from Newmark Holdings upon redemption/ exchange of FPU's	4,025										4,025
Dividends to common stockholders	(5,694)							(5,694)
Non-controlling interest in Deskeo	13,464										13,464
Preferred dividend on EPUs	0							(6,200)			6,200
Earnings distributions to limited partnership interests and other noncontrolling interests	2,071										2,071
Grant of exchangeability, redemption and issuance	162,657		231			102,067					60,359
Contributions of capital to and from Cantor for equity-based compensation	28,571					19,784					8,787
Repurchase of shares of Class A common stock	(139,334)						(120,068)				(19,266)
Restricted stock units compensation	11,507					9,414					2,093
Redemption of EPU's	(167,396)										(167,396)
Ending balance at Sep. 30, 2021	1,623,722		1,907	212	1,572	482,715	(160,599)	932,268		(2,292)	367,939
Beginning balance at Jun. 30, 2021	1,571,220		1,772	212	1,572	506,077	(87,940)	805,720		(2,192)	345,999
Increase (Decrease) in Stockholders' Equity
Consolidated net income	163,256							128,549			34,707
Foreign currency translation adjustments	(116)									(100)
Dividends to common stockholders	(2,001)							(2,001)
Non-controlling interest in Deskeo	13,464										13,464
Earnings distributions to limited partnership interests and other noncontrolling interests	(1,154)										(1,154)
Grant of exchangeability, redemption and issuance	(43,160)		135			(28,676)					(14,619)
Contributions of capital to and from Cantor for equity-based compensation	2,281					1,804					477
Repurchase of shares of Class A common stock	(84,132)						(72,659)				(11,473)
Restricted stock units compensation	4,064					3,510					554
Ending balance at Sep. 30, 2021	$ 1,623,722		$ 1,907	$ 212	$ 1,572	$ 482,715	$ (160,599)	$ 932,268		$ (2,292)	$ 367,939

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
FPU's
Increase (Decrease) in Stockholders' Equity
Stock issued (in shares)			1,008,731
FPU's | Affiliated Entity | Cantor
Increase (Decrease) in Stockholders' Equity
Stock issued (in shares)	1,008,731
Class A Common Stock
Increase (Decrease) in Stockholders' Equity
Treasury stock repurchases (in shares)	6,307,802	0	10,800,143	0
Common Stock
Increase (Decrease) in Stockholders' Equity
Dividends declared per share of common stock (dollars per share)	$ 0.01	$ 0.01	$ 0.03	$ 0.12
Dividends declared and paid per share of common stock (dollars per share)	$ 0.01	$ 0.01	$ 0.03	$ 0.12
Common Stock | Class A Common Stock
Increase (Decrease) in Stockholders' Equity
Grant of exchangeability, redemption and issuance of limited partnership interests and issuance of common stock (in shares)	978,682	1,109,690	24,031,587	1,545,975
Treasury stock repurchases (in shares)	6,307,802		10,800,143

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$ 163,256	$ 99,525	$ 793,025	$ 114,404
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Gain on originated MSRs			(98,820)	(126,571)
Depreciation and amortization	28,883	29,627	80,804	104,613
Nasdaq earn-out recognition			(1,108,012)	(121,906)
Provision/(reversals) for/of credit losses on the financial guarantee liability			(5,226)	14,702
Provision for doubtful accounts			4,597	2,976
Equity-based compensation and allocation of net income to limited partnership units and FPUs			315,742	74,544
Employee loan amortization			53,993	50,193
Deferred tax (benefit) provision			1,084	(20)
Non-cash changes in acquisition related earnouts			973	(11,445)
Unrealized (gains) on loans held for sale			(15,810)	(27,136)
Unrealized gain on investment			(27,825)	0
Loss from an equity method investment	0	7,400	0	11,562
Realized (gain) loss on marketable securities			(16,472)	2,204
Unrealized gain on marketable securities			(41,485)	0
Realized loss (gains) on non-marketable investments			(2,531)	26,837
Change in valuation of derivative asset			12,183	7,110
Loan originations—loans held for sale			(5,997,086)	(8,285,891)
Loan sales—loans held for sale			5,899,509	6,990,582
Other			2,670	3,899
Consolidated net income, adjusted for non-cash and non-operating items			(148,687)	(1,169,343)
Changes in operating assets and liabilities:
Receivables, net			(135,300)	120,729
Loans, forgivable loans and other receivables from employees and partners			(49,469)	(130,037)
Right of use asset			5,318	9,956
Other assets			62,812	(9,762)
Accrued compensation			(119,304)	(98,191)
Right of use liability			(3,360)	(9,488)
Accounts payable, accrued expenses and other liabilities			64,482	(30,543)
Payables to related parties			(3,049)	(24,371)
Net cash provided by (used in) operating activities			(326,557)	(1,341,050)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for acquisitions, net of cash acquired			(58,933)	(5,850)
Proceeds from the sale of marketable securities			495,703	34,738
Purchase of non-marketable investments			(1,500)	0
Purchases of fixed assets			(11,282)	(16,182)
Purchase of MSRs			0	(200)
Net cash (used in) provided by investing activities			423,988	12,506
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from warehouse facilities			5,997,086	8,285,891
Principal payments on warehouse facilities			(5,873,958)	(6,985,205)
Proceeds from the sale of limited partnership interests			4,025	0
Borrowing of debt			55,000	365,000
Repayment of debt			(195,000)	(75,000)
Securities loaned			106,722	(36,735)
Redemption and repurchase of limited partnership interests			(2,321)	0
Treasury stock repurchases			(139,334)	0
Earnings distributions to limited partnership interests and other noncontrolling interests			(14,370)	(81,879)
Dividends to stockholders			(5,696)	(21,362)
Payments on acquisition earn-outs			(41,329)	(3,981)
Deferred financing costs			(1,450)	(3,395)
Net cash (used in) provided by financing activities			(110,625)	1,443,334
Net increase in cash and cash equivalents and restricted cash			(13,194)	114,790
Cash and cash equivalents and restricted cash at beginning of period			258,399	221,872	$ 221,872
Cash and cash equivalents and restricted cash at end of period	$ 245,205	$ 336,662	245,205	336,662	$ 258,399
Cash paid during the period for:
Interest			19,157	22,435
Taxes			38,139	69,460
Supplemental disclosure of non-cash operating, investing and financing activities:
Right-of-use assets and liabilities			$ 511,056	$ 26,444

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Newmark Group, Inc., formerly known as Newmark Knight Frank (together with its subsidiaries, “Newmark” or the “Company”), a Delaware corporation, was formed as NRE Delaware, Inc. on November 18, 2016. Newmark changed its name to Newmark Group, Inc. on October 18, 2017. Newmark Holdings, L.P. (“Newmark Holdings”) is a consolidated subsidiary of Newmark for which Newmark is the general partner. Newmark and Newmark Holdings jointly own Newmark Partners, L.P. (“Newmark OpCo”), the operating partnership. Newmark is a leading commercial real estate services firm. Newmark offers a diverse array of integrated services and products designed to meet the full needs of both real estate investors/owners and occupiers. Newmark’s investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, commercial real estate due diligence consulting and advisory services and Government Sponsored Enterprise (“GSE”) lending and loan servicing, mortgage brokerage and equity-raising. Newmark’s occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate consulting services, project management, lease administration and facilities management. Newmark enhances these services and products through innovative real estate technology solutions and data analytics that enable clients to increase their efficiency and profits by optimizing their real estate portfolio. Newmark has relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. Nasdaq Monetization Transactions On June 28, 2013, BGC Partners, Inc. ("BGC") had sold certain assets of its on-the-run, electronic benchmark U.S. Treasury platform (“eSpeed”) to Nasdaq, Inc. ("Nasdaq"). The total consideration received in the transaction included $750.0 million in cash paid upon closing and an earn-out of up to 14,883,705 shares of Nasdaq shares to be paid ratably over 15 years, provided that Nasdaq, as a whole, produces at least $25.0 million in consolidated gross revenues each year (the “Nasdaq Earn-out”). The remaining rights under the Nasdaq Earn-out were transferred to Newmark on September 28, 2017 as part of the transaction (see below for further discussion and Note 7 — “Marketable Securities” for additional information). Exchangeable Preferred Partnership Units and Nasdaq Forward Contracts On June 18, 2018 and September 26, 2018, Newmark OpCo issued approximately 175.0 million and 150.0 million of exchangeable preferred partnership units (“EPUs”), respectively, in private transactions to the Royal Bank of Canada (“RBC”) (the “Newmark OpCo Preferred Investment”). Newmark received $266.1 million of cash in 2018 with respect to these transactions. The EPUs were issued in four tranches and are separately convertible by either RBC or Newmark into a fixed number of shares of Newmark Class A common stock, subject to a revenue hurdle in each of the fourth quarters of 2019 through 2022 for each of the respective four tranches. The ability to convert the EPUs into Newmark Class A common stock is subject to the special purpose vehicle's (the “SPVs”) option to settle the postpaid forward contracts as described below. As the EPUs represent equity ownership of a consolidated subsidiary of Newmark, they have been included in “Noncontrolling interests” on the accompanying unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of changes in equity. The EPUs are entitled to a preferred payable-in-kind dividend, which is recorded as accretion to the carrying amount of the EPUs through Retained earnings on the accompanying unaudited condensed consolidated statements of changes in equity and are reductions to “Net income (loss) available to common stockholders” for the purpose of calculating earnings per share. Contemporaneously with the issuance of the EPUs, an SPV that is a consolidated subsidiary of Newmark entered into variable postpaid forward contracts with RBC (together, the “Nasdaq Forwards”). The SPV is an indirect subsidiary of Newmark whose sole assets are the Nasdaq Earn-outs for 2019 through 2022. The Nasdaq Forwards provide the SPV the option to settle using up to 992,247 Nasdaq shares, to be received by the SPV pursuant to the Nasdaq Earn-out shares to be received (see Note 7 — “Marketable Securities”), or Newmark Class A common stock, in exchange for either cash or redemption of the EPUs, notice of which must be provided to RBC prior to November 1 of each year from 2019 through 2022. In September 2020, the SPV notified RBC of its decision to settle the second Nasdaq Forward using the Nasdaq shares the SPV received in November 2020 in exchange for the second tranche of the EPUs, which resulted in a payable to RBC that was settled upon receipt of Nasdaq Earn-out shares. The fair value of the Nasdaq common shares that Newmark received was $121.9 million. On November 30, 2020, Newmark settled the second Nasdaq Forward 741,505 Nasdaq shares, with a fair value of $93.5 million and Newmark retained 250,742 Nasdaq shares. In September 2019, the SPV notified RBC of its decision to settle the first Nasdaq Forward using the Nasdaq shares the SPV received in November 2019 in exchange for the first tranche of the EPUs, which resulted in a payable to RBC that was settled upon receipt of Nasdaq Earn-out shares. The fair value of the Nasdaq shares that Newmark received was $98.6 million. On December 2, 2019, Newmark settled the first Nasdaq forward contract with 898,685 Nasdaq shares, with a fair value of $93.5 million and Newmark retained 93,562 Nasdaq shares. Acceleration of Nasdaq Earn-out On February 2, 2021, Nasdaq announced that it entered into a definitive agreement to sell its U.S. fixed income business to Tradeweb. On June 25, 2021, Nasdaq announced the close of the sale of its U.S. fixed income business, which accelerated Newmark’s receipt of Nasdaq shares. Newmark received 6,222,340 Nasdaq shares, with a fair value of $1,093.9 million based on the closing price on September 30, 2021, included in “Other (loss) income, net” on the accompanying unaudited condensed consolidated statement of operations. On June 25, 2021, the SPV notified RBC of its decision to settle the third and fourth Nasdaq Forwards using the Nasdaq shares the SPV received on June 25, 2021. On July 2, 2021, Newmark settled the third and the fourth Nasdaq Forwards with 944,329 Nasdaq shares, with a fair value of $166.0 million based on the closing price of June 30, 2021. 2021 Equity Event and Share Count Reduction In connection with the acceleration of the Nasdaq Earn-out, on June 28, 2021, the Compensation Committee of Newmark’s Board of Directors (the "Compensation Committee") approved a plan to expedite the tax deductible exchange and redemption of a substantial number of limited partnership units held by partners of the Company (the "2021 Equity Event"). The 2021 Equity Event also accelerated certain compensation expenses resulting in $428.6 million of compensation charges. These charges, along with the use of $101.0 million of net deferred tax assets, are expected to offset a significant percentage of the Company's taxes related to the 2021 Equity Event. These partnership units were settled using a $12.50 share price. In July 2021, the Compensation Committee approved increasing to $13.01 the price to settle certain units. Some of the key components of the 2021 Equity Event are as follows: • 8.3 million and 8.0 million compensatory limited partnership units, respectively, of Newmark Holdings and BGC Holdings, L.P. ("BGC Holdings") held by the Company's partners who are employees were redeemed or exchanged. • 23.2 million and 17.4 million compensatory limited partnership units, respectively, of Newmark Holdings. and BGC Holdings. held by the Company's partners who are independent contractors were redeemed or exchanged. The Company also accelerated the payment of related withholding taxes to them with respect to their Newmark units. Independent contractors received one BGC Class A common share for each redeemed non-preferred BGC unit or cash and are responsible for paying any related withholding taxes. • Partners with nonexchangeable non-preferred compensatory units exchanged or redeemed in connection with the 2021 Equity Event generally received restricted Class A common shares of Newmark and/or BGC to the extent tax deductible. A portion of the BGC Class A common shares received by independent contractors were unrestricted to facilitate their payment of withholding taxes. • The issuance of Newmark Class A common stock related to the 2021 Equity Event reflected the June 30, 2021 exchange ratio of 0.9403. • Newmark Holdings and BGC Holdings limited partnership interests with rights to convert into HDUs for cash were also redeemed in connection with the 2021 Equity Event. See Note 27 — "Related Party Transactions" for the transactions with the Company's executive officers in connection with the 2021 Equity Event. (a) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission and in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”). For the year ended December 31, 2019, Newmark changed the line item formerly known as “Allocations of net income and grant of exchangeability to limited partnership units and FPUs and issuance of common stock” to “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations and statements of cash flow. The change resulted in the reclassification of amortization charges related to equity-based awards, such as REUs and Restricted Stock Units (“RSUs”), from “Compensation and employee benefits” to “Equity-based compensation and allocations of net income to limited partnership units and FPUs.” “Equity-based compensation and allocations of net income to limited partnership units and FPUs” reflect the following items related to cash and equity-based compensation: • Charges with respect to the grant of shares of common stock or limited partnership units, such as HDUs, including in connection with the redemption of non-exchangeable limited partnership units, including PSUs; • Charges with respect to grants of exchangeability, such as the right of holders of limited partnership units with no capital accounts, such as PSUs, to exchange the units into shares of common stock, or HDUs, as well as the cash paid in the settlement of the related exchangeable preferred units to pay withholding taxes owed by the unit holder upon such exchange; • Preferred units are granted in connection with the grant of certain limited partnership units, such as PSUs, that may be granted exchangeability to cover the withholding taxes owed by the unit holder, rather than issuing the gross amount of shares to employees, subject to cashless withholding of shares to pay applicable withholding taxes; • Charges related to the amortization of RSUs and REUs; and • Allocations of net income to limited partnership units and founding/working partner units (“FPUs”), including the Preferred Distribution (as hereinafter defined). Intercompany balances and transactions within Newmark have been eliminated. Transactions between Cantor Fitzgerald, L.P. ("Cantor") and Newmark pursuant to service agreements with Cantor (see Note 27 — “Related Party Transactions”), representing valid receivables and liabilities of Newmark which are periodically cash settled, have been included on the accompanying unaudited condensed consolidated financial statements as either receivables from or payables to related parties. Newmark receives administrative services to support its operations, and in return, Cantor allocates certain of its expenses to Newmark. Such expenses represent costs related, but not limited to, treasury, legal, accounting, information technology, payroll administration, human resources, incentive compensation plans and other services. These costs, together with an allocation of Cantor's overhead costs, are included as expenses on the accompanying unaudited condensed consolidated statements of operations. Where it is possible to specifically attribute such expenses to activities of Newmark, these amounts have been expensed directly to Newmark. Allocation of all other such expenses is based on a services agreement between Cantor which reflects the utilization of service provided or benefits received by Newmark during the periods presented on a consistent basis, such as headcount, square footage, revenue, etc. Management believes the assumptions underlying the stand-alone financial statements, including the assumptions regarding allocated expenses, reasonably reflect the utilization of services provided to or the benefit received by Newmark during the periods presented. However, these shared expenses may not represent the amounts that would have been incurred had Newmark operated independently from Cantor. Actual costs that would have been incurred if Newmark had performed the services itself would depend on multiple factors, including organizational structure and strategic decisions in various areas, including information technology and infrastructure (see Note 27 — “Related Party Transactions” for an additional discussion of expense allocations). Transfers of cash, both to and from Cantor, are included in “Receivables from related parties or Payables to related parties” on the accompanying unaudited condensed consolidated balance sheets and as part of the change in payments to and borrowings from related parties in the financing section prior to the Spin-Off and in the operating section after the Spin-Off on the accompanying unaudited condensed consolidated statements of cash flows. The income tax provision on the accompanying unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income has been calculated as if Newmark had been operating on a stand-alone basis and filed separate tax returns in the jurisdictions in which it operates. Prior to the Spin-Off, Newmark’s operations had been included in the BGC U.S. federal and state tax returns or separate non-U.S. jurisdictions tax returns. As Newmark operations in many jurisdictions were unincorporated commercial units of BGC and its subsidiaries, stand-alone tax returns have not been filed for the operations in these jurisdictions. The accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments that, in the opinion of management, are necessary for a fair presentation of the accompanying unaudited condensed consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income, consolidated statements of cash flows and consolidated statements of changes in equity of Newmark for the periods presented. (b) Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments, which requires financial assets that are measured at amortized cost to be presented, net of an allowance for credit losses, at the amount expected to be collected over their estimated life. Expected credit losses for newly recognized financial assets, as well as changes to credit losses during the period, are recognized in earnings. For certain purchased financial assets with deterioration in credit quality since origination (“PCD assets”), the initial allowance for expected credit losses will be recorded as an increase to the purchase price. Expected credit losses, including losses on off-balance-sheet exposures, such as lending commitments, will be measured based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses , to clarify that operating lease receivables accounted for under ASC 842, Leases , are not in the scope of the new credit losses guidance, and, instead, impairment of receivables arising from operating leases should be accounted for in accordance with ASC 842, Leases . In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The ASU makes changes to the guidance introduced or amended by ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments . See below for the description of the amendments stipulated in ASU No. 2019-04. In addition, in May 2019, the FASB issued ASU No. 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief . The amendments in this ASU allow entities, upon adoption of ASU No. 2016-13, to irrevocably elect the fair value option for financial instruments that were previously carried at amortized cost and are eligible for the fair value option under ASC 825-10, Financial Instruments: Overall. In November 2019, the FASB issued ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses . The amendments in this ASU require entities to include certain expected recoveries of the amortized cost basis previously written off, or expected to be written off, in the allowance for credit losses for PCD assets; provide transition relief related to troubled debt restructurings; allow entities to exclude accrued interest amounts from certain required disclosures; and clarify the requirements for applying the collateral maintenance practical expedient. The amendments in ASUs No. 2018-19, 2019-04, 2019-05 and 2019-11 are required to be adopted concurrently with the guidance in ASU No. 2016-13. Newmark adopted the standards on their required effective date beginning January 1, 2020. The primary effect of adoption, on a pre-tax basis, resulted in a decrease in assets of $8.0 million, an increase in liabilities of $17.9 million and a decrease in retained earnings of $25.9 million, respectively. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new ASU, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Newmark adopted the standard on its required effective date beginning January 1, 2020, and the guidance was applied on a prospective basis starting with the goodwill impairment test during the year ended December 31, 2020. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The guidance intends to better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. To meet that objective, the amendments expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. In October 2018, the FASB issued ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes . Based on concerns about the sustainability of LIBOR, in 2017, a committee convened by the Federal Reserve Board and the Federal Reserve Bank of New York identified a broad Treasury repurchase agreement (repo) financing rate referred to as the SOFR as its preferred alternative reference rate. The guidance in ASU No. 2018-16 adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the LIBOR to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The amendments in this ASU were required to be adopted concurrently with the guidance in ASU No. 2017-12. The guidance became effective beginning January 1, 2019 and was required to be applied on a prospective and modified retrospective basis. As Newmark currently does not designate any derivative contracts as hedges for accounting purposes, the adoption of this new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The guidance helps organizations address certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act by providing an option to reclassify these stranded tax effects to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The standard became effective for Newmark on January 1, 2019. The guidance was required to be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting . The guidance largely aligns the accounting for share-based payment awards issued to employees and nonemployees, whereby the existing employee guidance will apply to nonemployee share-based transactions (as long as the transaction is not effectively a form of financing), with the exception of specific guidance related to the attribution of compensation cost. The cost of nonemployee awards will continue to be recorded as if the grantor had paid cash for the goods or services. In addition, the contractual term will be able to be used in lieu of an expected term in the option-pricing model for nonemployee awards. The standard became effective for Newmark on January 1, 2019. The ASU was required to be applied on a prospective basis to all new awards granted after the date of adoption. In addition, any liability-classified awards that were not settled and equity-classified awards for which a measurement date had not been established by the adoption date were remeasured at fair value as of the adoption date with a cumulative effect adjustment to opening retained earnings in the year of adoption. Newmark adopted this standard on its effective date. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The guidance is part of the FASB’s disclosure framework project, whose objective and primary focus are to improve the effectiveness of disclosures in the notes to financial statements. The ASU eliminates, amends and adds certain disclosure requirements for fair value measurements. The FASB concluded that these changes improve the overall usefulness of the footnote disclosures for financial statement users and reduce costs for preparers. Certain disclosures are required to be applied prospectively and other disclosures need to be adopted retrospectively in the period of adoption. As permitted by the transition guidance in the ASU, Newmark early adopted eliminated and modified disclosure requirements as of September 30, 2018. The early adoption of this standard did not have an impact on the accompanying unaudited condensed consolidated financial statements. The additional disclosure requirements were adopted by Newmark beginning January 1, 2020, and the adoption of these fair value measurement disclosures did not have an impact on Newmark’s accompanying unaudited condensed consolidated financial statements. See Note 26 — “Fair Value of Financial Assets and Liabilities” for additional information. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) . The guidance on the accounting for implementation, setup, and other upfront costs (collectively referred to as implementation costs) applies to entities that are a customer in a hosting arrangement that is a service contract. The amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the guidance in this ASU. The new standard became effective beginning January 1, 2020. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities . The guidance was issued in response to stakeholders’ observations that Topic 810, Consolidation , could be improved in the areas of applying the variable interest entity guidance to private companies under common control and in considering indirect interests held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interests. The new standard became effective beginning January 1, 2020, with early adoption permitted, and must be applied retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. Newmark adopted the standard on its effective date beginning January 1, 2020. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The ASU amends guidance introduced or amended by ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments , ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , and ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The amendments to ASU No. 2016-13 clarify the scope of the credit losses standard and address guidance related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other issues. With respect to amendments to ASU No. 2017-12, the guidance addresses partial-term fair value hedges, fair value hedge basis adjustments, and certain transition requirements, along with other issues. The clarifying guidance pertaining to ASU No. 2016-01 requires an entity to remeasure an equity security without a readily determinable fair value accounted for under the measurement alternative at fair value in accordance with guidance in ASC 820, Fair Value Measurement ; specifies that equity securities without a readily determinable fair value denominated in nonfunctional currency must be remeasured at historical exchange rates; and provides fair value measurement disclosure guidance. Newmark adopted this standard on the required effective date beginning January 1, 2020. The adoption of the hedge accounting and the recognition and measurement guidance amendments did not have a material impact on the accompanying unaudited condensed consolidated financial statements. See above for the impact of adoption of the amendments related to the credit losses standard. In July 2019, the FASB issued ASU No. 2019-07, Codification Updates to SEC Sections-Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization, and Miscellaneous Updates . The guidance clarifies or improves the disclosure and presentation requirements of a variety of codification topics by aligning them with already effective SEC final rules, thereby eliminating redundancies and making the codification easier to apply. This ASU was effective upon issuance and did not have a material impact on the accompanying unaudited condensed consolidated financial statements and related disclosures. In November 2019, the FASB issued ASU No. 2019-08, Compensation-Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements-Share-Based Consideration Payable to a Customer . The ASU simplifies and increases comparability of accounting for nonemployee share-based payments, specifically those made to customers. Under the new guidance, such awards will be accounted for as a reduction of the transaction price in revenue, but should be measured and classified following the stock compensation guidance in ASC 718, Compensation-Stock Compensation . Newmark adopted standard on the required effective date beginning January 1, 2020. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments . This ASU makes narrow-scope amendments related to various aspects pertaining to financial instruments and related disclosures by clarifying or improving the Codification. For the most part, the guidance was effective upon issuance, and the adoption of the standard did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The ASU is part of the FASB’s simplification initiative, and it is expected to reduce cost and complexity related to accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740, Income Taxes related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. Newmark adopted the standard on the required effective date beginning January 1, 2021 and, with certain exceptions, it was applied prospectively. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topi

Limited Partnership Interests i

Limited Partnership Interests in Newmark Holdings and BGC Holdings	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Limited Partnership Interests in Newmark Holdings and BGC Holdings	Limited Partnership Interests in Newmark Holdings and BGC Holdings Newmark is a holding company with no direct operations and conducts substantially all of its operations through its operating subsidiaries. Virtually all of Newmark’s consolidated net assets and net income are those of consolidated variable interest entities. Newmark Holdings is a consolidated subsidiary of Newmark for which Newmark is the general partner. Newmark and Newmark Holdings jointly own Newmark OpCo, the operating partnership. In connection with the Separation and BGC Holdings Distribution, holders of BGC Holdings partnership interests received partnership interests in Newmark Holdings, described below (see Note 27 — “Related Party Transactions”). These collectively represent all of the “limited partnership interests” in BGC Holdings and Newmark Holdings. As a result of the Separation, the limited partnership interests in Newmark Holdings were distributed to the holders of limited partnership interests in BGC Holdings, whereby each holder of BGC Holdings limited partnership interests at that time received a corresponding Newmark Holdings limited partnership interest, determined by the contribution ratio (as hereafter defined), which was equal to a BGC Holdings limited partnership interest multiplied by one divided by 2.2 (the “contribution ratio”), divided by the exchange ratio (which is the ratio by which a Newmark Holdings limited partnership interest can be exchanged for a number of shares of Newmark Class A common stock (the “exchange ratio”)). Initially, the exchange ratio equaled one, so that each Newmark Holdings limited partnership interest was exchangeable for one share of Newmark Class A common stock; however, such exchange ratio is subject to adjustment. For reinvestment, acquisition or other purposes, Newmark may determine on a quarterly basis to distribute to its stockholders a smaller percentage of its income than Newmark Holdings distributes to its equity holders (excluding tax distributions from Newmark Holdings) of the cash that it received from Newmark OpCo. In such circumstances, the Separation and Distribution Agreement provides that the exchange ratio will be reduced to reflect the amount of additional cash retained by Newmark as a result of the distribution of such smaller percentage, after the payment of taxes. As of September 30, 2021, the exchange ratio equaled 0.9339. Redeemable Partnership Interests Founding/working partners have limited partnership interests (“FPUs”) in BGC Holdings and Newmark Holdings. Newmark accounts for FPUs outside of permanent capital as “Redeemable partnership interests,” on the accompanying unaudited condensed consolidated balance sheets. This classification is applicable to FPUs because these units are redeemable upon termination of a partner, including a termination of employment, which can be at the option of the partner and not within the control of the issuer. FPUs are held by limited partners who are primarily employees of BGC and generally receive quarterly allocations of net income. Upon termination of employment or otherwise ceasing to provide substantive services, the FPUs are generally redeemed, and the unit holders are no longer entitled to participate in the quarterly allocations of net income. These quarterly allocations of net income are contingent upon services being provided by the unit holder and are reflected as a component of compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations to the extent they relate to FPUs held by Newmark employees. Limited Partnership Units Certain employees of Newmark hold limited partnership interests in Newmark Holdings and BGC Holdings (e.g., REUs, RPUs, PSUs, PSIs, HDUs, and LPUs, collectively the “limited partnership units”). Prior to the Separation, certain employees of both BGC and Newmark generally received limited partnership units in BGC Holdings. As a result of the Separation, these employees were distributed limited partnership units in Newmark Holdings equal to a BGC Holdings limited partnership unit multiplied by the contribution ratio. In addition, in the BGC Holdings Distribution, these employees also received additional limited partnership units in Newmark Holdings. Subsequent to the Separation, Newmark employees generally have been granted limited partnership units in Newmark Holdings. Generally, such limited partnership units receive quarterly allocations of net income and generally are contingent upon services being provided by the unit holders. As prescribed in U.S. GAAP guidance, prior to the Spin-Off, the quarterly allocations of net income on such limited partnership units were reflected as a component of compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations. Following the Spin-Off, the quarterly allocations of net income on BGC Holdings and Newmark Holdings limited partnership units held by Newmark employees are reflected as a component of compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations, and the quarterly allocations of net income on Newmark Holdings limited partnership units held by BGC employees are reflected as a component of “Net income (loss) attributable to noncontrolling interests” on the accompanying unaudited condensed consolidated statements of operations. From time to time, Newmark issues limited partnership units as part of the consideration for acquisitions. Certain of these limited partnership units held by Newmark and BGC employees entitle the holders to receive post-termination payments equal to the notional amount of the units in four Certain Newmark employees hold preferred partnership units (“Preferred Units”). Each quarter, the net profits of Newmark Holdings are allocated to such units at a rate of either 0.6875% (which is 2.75% per calendar year) or such other amount as set forth in the award documentation (the “Preferred Distribution”). These allocations are deducted before the calculation and distribution of the quarterly partnership distribution for the remaining partnership units and are generally contingent upon services being provided by the unit holder. The Preferred Units are not entitled to participate in partnership distributions other than with respect to the Preferred Distribution. Preferred Units may not be made exchangeable into Newmark’s Class A common stock and are only entitled to the Preferred Distribution, and accordingly are not included in Newmark’s fully diluted share count. The quarterly allocations of net income on Preferred Units are reflected in compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations. After deduction of the Preferred Distribution, the remaining partnership units generally receive quarterly allocation of net income based on their weighted-average pro rata share of economic ownership of the operating subsidiaries. In addition, Preferred Units are granted in connection with the grant of certain limited partnership units, such as PSUs, that may be granted exchangeability to cover the withholding taxes owed by the unit holder, rather than issuing the gross amount of shares to employees, subject to cashless withholding of shares to pay applicable withholding taxes. Certain Newmark employees hold non-distribution earning units (e.g. NPSUs and NREUs, collectively “N Units”) that do not participate in quarterly partnership distributions and are not allocated any items of profit or loss. N Units become Cantor Units Cantor holds limited partnership interests in Newmark Holdings (“Cantor units”). Cantor units are reflected as a component of “Noncontrolling interests” on the accompanying unaudited condensed consolidated balance sheets. Cantor receives quarterly allocations of net income (loss) and are reflected as a component of “Net income (loss) attributable to noncontrolling interests” on the accompanying unaudited condensed consolidated statements of operations. Exchangeable Preferred Limited Partnership Units The EPUs were issued in four tranches and are separately convertible by either RBC or Newmark into a fixed number of Newmark’s Class A common stock, subject to a revenue hurdle for Newmark in each of the fourth quarters of 2019 through 2022 for each of the four tranches, respectively. As the EPUs represent equity ownership of a consolidated subsidiary of Newmark, they have been included in “Noncontrolling interests” on the unaudited condensed consolidated statements of changes in equity. The EPUs are entitled to a preferred payable-in-kind dividend, which is recorded as accretion to the carrying amount of the EPUs through retained earnings on the accompanying unaudited condensed consolidated statements of changes in equity and are reductions to “Net income available to common stockholders” for the purpose of calculating earnings per share. (See Note 1 — “Organization and Basis of Presentation” for additional information). General Certain of the limited partnership interests, described above, have been granted exchangeability into BGC and/or Newmark Class A common stock, and additional limited partnership interests may become exchangeable for BGC and/or Newmark Class A common stock. At the time exchangeability is granted, Newmark recognizes an expense based on the fair value of the award on that date, which is included in “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations. In addition, certain limited partnership interests have been granted the right to exchange into a Newmark partnership unit with a capital account, such as HDUs. HDUs have a stated capital account which is initially based on the closing trading price of Newmark Class A common stock at the time the HDU is granted and are included in “Accrued Compensation” on the accompanying unaudited condensed consolidated balance sheets. HDUs participate in quarterly partnership distributions and are not exchangeable into shares of Class A common stock. Limited partnership interests held by Cantor in Newmark Holdings as of September 30, 2021 are exchangeable for 23.7 million shares of Newmark Class B common stock. Subsequent to the Spin-Off, limited partnership interests in BGC Holdings held by a partner or Cantor may become exchangeable for BGC Class A or Class B common stock on a one-for-one basis, and limited partnership interests in Newmark Holdings held by a partner or Cantor may become exchangeable for a number of shares of Newmark Class A or Class B common stock equal to the number of limited partnership interests multiplied by the exchange ratio at that time. As of September 30, 2021, the exchange ratio equaled 0.9339. Each quarter, net income (loss) is allocated between the limited partnership interests and the common stockholders. In quarterly periods in which Newmark has a net loss, the loss is allocated to Cantor and reflected as a component of “Net income (loss) attributable to noncontrolling interests” on the accompanying unaudited condensed consolidated statements of operations. In subsequent quarters in which Newmark has net income, the initial allocation of income to the limited partnership interests is allocated to Cantor, and reflected in, “Net income (loss) attributable to noncontrolling interests,” to recover any losses taken in earlier quarters, with the remaining income allocated to the limited partnership interests. This loss allocation process between limited partners and Cantor has no material impact on the net income (loss) allocated to common stockholders.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies For a detailed discussion about Newmark’s significant accounting policies, see Note 3 — “Summary of Significant Accounting Policies,” in Newmark’s consolidated financial statements included in Part II, Item 8 of Newmark’s Annual Report on Form 10-K for the year ended December 31, 2020. There were no significant changes made to Newmark’s significant accounting policies during the three and nine months ended September 30, 2021. Current Expected Credit Losses ("CECL"): The accounting policy changes described below were updated pursuant to the adoption of ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses on Financial Instruments and related amendments on January 1, 2020. These policy updates have been applied using the modified retrospective approach in the accompanying consolidated financial statements from January 1, 2020 onward. Financial information for the historical comparable periods was not revised and continues to be reported under the accounting standards in effect during those historical periods. In accordance with the guidance in ASC Topic 326, Newmark presents its financial assets that are measured at amortized cost, net of an allowance for credit losses, which represents the amount expected to be collected over their estimated life. Expected credit losses for newly recognized financial assets carried at amortized cost and credit exposures on off-balance sheet financial guarantees, as well as changes to expected lifetime credit losses during the period, are recognized in earnings. The CECL methodology represents a significant change from prior U.S. GAAP and replaced the prior multiple impairment methods, which generally required that a loss be incurred before it was recognized. Within the life cycle of a loan or other financial asset in scope, the CECL methodology generally results in the earlier recognition of the provision for credit losses and the related allowance for credit losses than under prior U.S. GAAP. The CECL methodology’s impact on expected credit losses, among other things, reflects Newmark’s view of the current state of the economy, forecasted macroeconomic conditions and Newmark’s portfolios. Financial guarantee liability: Newmark's adoption of ASC 326 impacted the expected credit loss reserving methodology for the financial guarantee liability provided to Fannie Mae under the Delegated Underwriting and Servicing (“DUS”) Program and Freddie Mac’s Targeted Affordable Housing Program “TAH”). The expected credit loss is modeled based on Newmark's historical loss experience adjusted to reflect current economic conditions. A significant amount of judgment is required in the determination of the appropriate reasonable and supportable period, the methodology used to incorporate current and future macroeconomic conditions, determination of the probability of and exposure at default or non-payment, current delinquency status, loan size, terms, amortization types, and the forward-looking view of the primary risk drivers (debt-service coverage ratio and loan-to-value), all of which are ultimately used in measuring the quantitative components of the reserve. Beyond the reasonable and supportable period, Newmark estimates expected credit losses using its historical loss rates. In addition, Newmark reviews the reserves periodically and makes adjustments for certain external and internal qualitative factors, which may increase or decrease the reserves for credit losses. In order to estimate credit losses, assumptions about current and future economic conditions are incorporated into the model using multiple economic scenarios that are weighted to reflect the conditions at each measurement date. As a result of the adoption of ASC 326, Newmark recorded a pre-tax increase to the financial guarantee liability of $17.9 million through beginning stockholders' equity on January 1, 2020. During the year ended December 31, 2020, there was an increase to the loss sharing liability of $11.6 million. As of December 31, 2020 the balance of the financial guarantee liabilities was $29.6 million. During the three and nine months ended September 30, 2021 there was a reduction in the CECL related provision of $1.1 million and $5.2 million, respectively. For the nine months ended September 30, 2020, there was an increase in the reserve by $32.6 million. There was no increase in reserve for the three months ended September 30, 2020. As of September 30, 2021, the balance of the financial guarantee liabilities was $24.4 million and is included in “Other long-term liabilities” on the accompanying consolidated balance sheets. Receivables, net: Newmark has accrued commissions receivable from real estate brokerage transactions, management services and other receivables from contractual management assignments. Receivables are presented net of the CECL allowance as discussed above and are included in “Receivables, net” on the accompanying consolidated balance sheets. For its CECL reserve, Newmark segregated its receivables into certain pools based on similar risk characteristics and further defined a range of potential loss rates for each pool based on aging. Newmark designed its methodology to allow for a range of loss rates in each pool such that changes in forward-looking conditions can be incorporated into the estimate. Each pool is assigned a loss rate that incorporates management’s view of current conditions and forward-looking conditions that inform the level of expected credit losses in each pool. The credit loss estimate includes specifically identified amounts for which payment has become unlikely. As a result of the adoption of ASC 326. As a result of the adoption of ASC 326, Newmark recorded a pre-tax increase to the reserves of $4.2 million through beginning stockholder's equity on January 1, 2020. The balance of the reserve was $17.2 million and $13.4 million, respectively, as of September 30, 2021 and December 31, 2020 and is included in "Receivables, net" on the accompany consolidated balance sheets. Loans, Forgivable Loans and Other Receivables from Employees and Partners, net: Newmark has entered into various agreements with certain of its employees and partners, whereby these individuals receive loans which may be either wholly or in part repaid from the distribution earnings that the individual receives on some or all of their limited partnership units or may be forgiven over a period of time. The forgivable portion of these loans is not included in Newmark’s estimate of expected credit losses when employees meet the conditions for forgiveness through their continued employment over the specified time period and is recognized as compensation expense over the life of the loan. The amounts due from terminated employees that Newmark does not expect to collect are included in the allowance for credit losses. As a result of the adoption of ASC 326, Newmark recorded a pre-tax reserve of $3.7 million through beginning stockholders' equity on January 1, 2020. As of September 30, 2021 and December 31, 2020, the balance of this reserve was $3.7 million, and is included in “Loans, forgivable loans and other receivables from employees and partners, net” on the accompanying consolidated balance sheets. From time to time, Newmark may also enter into agreements with employees and partners to grant bonus and salary advances or other types of loans. These advances and loans are repayable in the time frame outlined in the underlying agreements. Newmark reviews loan balances each reporting period for collectability. If Newmark determines that the collectability of a portion of the loan balances is not expected, Newmark recognizes a reserve against the loan balances as compensation expense. Segment: Newmark has a single operating segment. Newmark is a real estate services firm offering services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management. The chief operating decision-maker regardless of geographic location evaluates the operating results of Newmark as total real estate services and allocates resources accordingly. Newmark recognized revenues as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Leasing and other commissions $ 231,533 $ 114,947 $ 563,311 $ 375,465 Capital markets commissions 252,095 82,956 558,254 263,838 Gains from mortgage banking activities/origination, net 60,029 91,192 148,683 210,686 Management services, servicing fees and other 244,469 146,829 651,729 453,583 Revenues $ 788,126 $ 435,924 $ 1,921,977 $ 1,303,572

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Newmark acquired the first lien debt of Knotel, Inc. (“Knotel”), a global flexible workspace provider, in December of 2020. Newmark subsequently acquired Knotel's second lien debt in January of 2021. On January 31, 2021, Newmark agreed to provide approximately $19.8 million of debtor-in-possession financing to Knotel and to acquire the business, as part of Knotel's Chapter 11 sales process. On March 18, 2021, Newmark received approval from the U.S. Bankruptcy Court for the District of Delaware to acquire the business of Knotel. On March 24, 2021, Newmark acquired the business of Knotel. The Knotel acquisition has been determined to be a business combination with an acquisition date of March 31, 2021, for accounting purposes. The assets and liabilities of Knotel have been recorded in Newmark’s consolidated balance sheets at fair market value. On September 6, 2021, Newmark acquired a majority stake in the start-up Space Management (DBA"Deskeo"), France's leader in flexible and serviced office space for enterprise clients. Based in Paris, France Deskeo adds over 50 locations to Newmark's international flexible office portfolio. For the nine months ended September 30, 2021, the following table summarizes the components of the purchase consideration transferred, and the preliminary allocation of the assets acquired, and liabilities assumed, for the acquisition. Newmark expects to finalize its analysis of the assets acquired and liabilities assumed within the first year of the acquisition, and therefore adjustments to assets and liabilities may occur (in thousands): As of the Purchase Price First and second lien debt $ 39,584 Debtor-in-possession financing 19,788 Assumed liability 7,868 Cash 28,494 Total $ 95,734 Allocations Cash $ 21,642 Goodwill 90,844 Other intangible assets, net 34,290 Receivables, net 6,894 Fixed Assets, net 40,605 Other assets 62,708 Right-of-use Assets 457,674 Right-of-use Liabilities (454,606) Accrued Compensation (2,076) Accounts payable, accrued expenses and other liabilities (107,122) Unrealized gain on investment (27,825) Initial investment (recorded at cost) (13,832) Non-controlling interest (13,463) Total $ 95,733 The total consideration for the acquisitions during the nine months ended September 30, 2021 was $95.7 million in total fair value, comprising of the extinguishment of first and second lien debt of $39.6 million, debtor-in-possession financing of $19.8 million, an assumed liability of $7.9 million, and $28.5 million in cash. The excess of the consideration over the fair value of the net assets acquired was recorded as goodwill of $90.8 million, of which approximately $71.6 million is deductible by Newmark for tax purposes. These acquisitions were accounted for using the purchase method of accounting. The results of operations of the acquisitions have been included on the accompanying unaudited condensed consolidated financial statements subsequent to the date of acquisition, which in aggregate contributed $23.8 million and $41.3 million to Newmark’s revenues for the three and nine months ended September 30, 2021, respectively. Deskeo was previously recorded as an alternative method investment on Newmark’s condensed consolidated balance sheet and amounted to $13.8 million. Pursuant to acquiring a majority interest in Deskeo and valuing its previously held non-controlling interest, Newmark recorded an unrealized gain of $27.8 million on the investment during the three and nine months ended September 30, 2021. In January 2020, Newmark completed the acquisition of certain assets of Hopkins Appraisal Services, a national leader in the valuation of restaurants and retail petroleum facilities. For the year ended December 31, 2020, the following table summarizes the components of the purchase consideration transferred, and the preliminary allocation of the assets acquired, and liabilities assumed, for the acquisition. Newmark expects to finalize its analysis of the assets acquired and liabilities assumed within the first year of the acquisition, and therefore adjustments to assets and liabilities may occur (in thousands): As of the Purchase Price Cash, stock and units issued at closing $ 6,249 Contingent consideration 3,590 Total $ 9,839 Allocations Goodwill $ 6,294 Other intangible assets, net 2,700 Receivables, net 796 Fixed Assets, net 134 Other assets 29 Accounts payable, accrued expenses and other liabilities (114) Total $ 9,839 The total consideration for the acquisition during the year ended December 31, 2020 was $9.8 million in total fair value, comprising cash of $5.9 million and $0.4 million of RSUs. The total consideration included contingent consideration of 104,653 RSUs (with an acquisition date fair value of $1.3 million), and $2.2 million in cash that may be issued contingent on certain targets being met through 2022. The excess of the consideration over the fair value of the net assets acquired was recorded as goodwill of $6.3 million, of which $2.4 million is deductible by Newmark for tax purposes. This acquisition was accounted for using the purchase method of accounting. The results of operations of the acquisition have been included on the accompanying unaudited condensed consolidated financial statements subsequent to the date of acquisition, which in aggregate contributed $1.9 million and $4.2 million to Newmark’s revenues for the three and nine months ended September 30, 2020, respectively.

Earnings Per Share and Weighted

Earnings Per Share and Weighted-Average Shares Outstanding	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share and Weighted-Average Shares Outstanding	Earnings Per Share and Weighted-Average Shares Outstanding U.S. GAAP guidance — Earnings (Loss) Per Share provides guidance on the computation and presentation of earnings (loss) per share (“EPS”). Basic EPS excludes dilution and is computed by dividing Net income available to common stockholders by the weighted-average number of shares of common stock outstanding and contingent shares for which all necessary conditions have been satisfied except for the passage of time. Net income (loss) is allocated to Newmark’s outstanding common stock, FPUs, limited partnership units and Cantor units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings”). In addition, in relation to the Newmark OpCo Preferred Investment, the EPUs issued in June 2018 and September 2018 are entitled to a preferred payable-in-kind dividend which is recorded as accretion to the carrying amount of the EPUs and is a reduction to net income available to common stockholders for the calculation of Newmark’s basic earnings per share and fully diluted earnings per share. The following is the calculation of Newmark’s basic EPS (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Basic earnings per share: Net income available to common stockholders (1) $ 128,549 $ 72,101 $ 595,198 $ 75,703 Basic weighted-average shares of common stock outstanding 199,413 179,501 189,317 178,527 Basic earnings per share $ 0.64 $ 0.40 $ 3.14 $ 0.42 (1) Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 30, 2021, respectively, and $3.2 million and $8.1 million for the three and nine months ended September 30, 2020, respectively. (see Note 1 — “Organization and Basis of Presentation”). Fully diluted EPS is calculated utilizing net income available to common stockholders plus net income allocations to the limited partnership interests in Newmark Holdings as the numerator. The denominator comprises Newmark’s weighted-average number of outstanding shares of Newmark common stock to the extent the related units are dilutive and, if dilutive, the weighted-average number of limited partnership interests and other contracts to issue shares of common stock, stock options and RSUs. The limited partnership interests generally are potentially exchangeable into shares of Newmark Class A common stock and are entitled to remaining earnings after the deduction for the Preferred Distribution; as a result, they are included in the fully diluted EPS computation to the extent that the effect would be dilutive. The following is the calculation of Newmark’s fully diluted EPS (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Fully diluted earnings per share: Net income available to common stockholders $ 128,549 $ 72,101 $ 595,198 $ 75,703 Allocations of net income to limited partnership interests in Newmark Holdings, net of tax — 31,522 — 34,719 Net income for fully diluted shares $ 128,549 $ 103,623 $ 595,198 $ 110,422 Weighted-average shares: Common stock outstanding 199,413 179,501 189,317 178,527 Cantor units — — — — Partnership units (1) — 86,912 — 86,093 RSUs (Treasury stock method) 4,696 155 3,816 254 Newmark exchange shares 1,172 225 1,187 230 Fully diluted weighted-average shares of common stock outstanding 205,281 266,793 194,320 265,104 Fully diluted earnings per share $ 0.63 $ 0.39 $ 3.06 $ 0.42 (1) Partnership units collectively include FPUs, limited partnership units, and Cantor and BGC units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information). For the three and nine months ended September 30, 2021, 52.5 million and 73.6 million potentially dilutive securities, respectively, were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive. For the three and nine months ended September 30, 2020, 9.2 million and 6.0 million potentially dilutive securities were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive. Anti-dilutive securities for the three and nine months ended September 30, 2020 included only RSUs.

Stock Transactions and Unit Red

Stock Transactions and Unit Redemptions	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stock Transactions and Unit Redemptions	Stock Transactions and Unit Redemptions As of September 30, 2021, Newmark has two classes of authorized common stock: Class A common stock and Class B common stock. Class A Common Stock Each share of Class A common stock is entitled to one vote. Newmark has 1.0 billion authorized shares of Class A common stock at $0.01 par value per share. Changes in shares of Newmark’s Class A common stock outstanding were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Shares outstanding at beginning of period 179,736,458 157,811,436 161,175,894 156,265,461 Share issuances: LPU redemption/exchange (1) 968,762 607,971 3,960,927 1,617,690 Issuance of Class A common stock for Newmark RSUs 254,735 210,718 1,498,343 746,974 Other (2) (244,815) — 18,572,317 — Treasury stock repurchases (6,307,802) — (10,800,143) — Shares outstanding at end of period 174,407,338 158,630,125 174,407,338 158,630,125 (1) Because they were included in the Newmark’s fully diluted share count, if dilutive, any exchange of LPUs into Class A common stock would not impact the fully diluted number of shares and units outstanding. (2) For information, refer to the section titled " 2021 Equity Event and Share Count Reduction" in Note 1 "Organization and Basis of Presentation" Class B Common Stock Each share of Class B common stock is entitled to 10 votes and is convertible at any time into one share of Class A common stock. As of September 30, 2021 and December 31, 2020, there were 21.3 million shares of Newmark Class B common stock outstanding. Share Repurchases On February 17, 2021, our Board increased its authorized share repurchases of Newmark Class A Common stock and purchases of limited partnership interests in Newmark's subsidiaries to $400.0 million. This authorization includes repurchases of shares or purchase of units from executive officers, other employees and partners, including of BGC and Cantor, as well as other affiliated persons or entities. From time to time, Newmark may actively continue to repurchase shares and/or purchase units. During the three and nine months ended September 30, 2021, Newmark repurchased 6,307,802 and 10,800,143 shares of Class A common stock, respectively, at an average price of $13.44 and $13.00, respectively. As of September 30, 2021, Newmark had $315.9 million remaining from its share repurchase and unit purchase authorization. On August 5, 2021, the Board and Audit Committee reauthorized the $400 million Newmark share repurchase and unit redemption authorization, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities (see Note 32 — "Subsequent Event"). The following table details Newmark's unit redemptions and share repurchases for cash, under the new program, and does not include unit redemptions and/or cancellations in connection with the grant of shares Newmark's Class A common stock. The gross unit redemptions and share repurchases of Newmark's Class A common stock during the nine months ended September 30, 2021 were as follows (in thousands except units, shares and per share amounts): Total Average Approximate Redemptions January 1, 2021 - March 31, 2021 — $ — April 1, 2021 - June 30, 2021 167,894 $ 11.91 July 1, 2021 - September 30, 2021 — $ — Total Redemptions 167,894 $ 11.91 Repurchases January 1, 2021 - March 31, 2021 879,243 $ 10.58 April 1, 2021 - June 30, 2021 3,613,098 $ 12.81 July 1, 2021 - July 31, 2021 52,527 $ 13.05 August 1, 2021 - August 31, 2021 2,777,350 $ 13.17 September 1, 2021 - September 30, 2021 3,477,925 $ 13.67 Total Repurchases 10,800,143 $ 13.00 Total Redemptions and Repurchases 10,968,037 $ 12.98 $ 315,879 Redeemable Partnership Interests The changes in the carrying amount of FPUs follow (in thousands): September 30, 2021 December 31, 2020 Balance at beginning of period: $ 20,045 $ 21,517 Income allocation 4,826 1,740 Distributions of income (1,215) (1,740) Redemptions (642) (1,472) Issuance and other (124) — Balance at end of period $ 22,890 $ 20,045

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2021
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities On June 28, 2013, BGC sold certain assets of eSpeed, its on-the-run business, to Nasdaq. The total consideration received by BGC in the transaction included the Nasdaq Earn-out of up to 14,883,705 shares of Nasdaq shares to be paid ratably over 15 years, provided that Nasdaq, as a whole, produces at least $25.0 million in consolidated gross revenues each year. The Nasdaq Earn-out was excluded from the initial gain on the divestiture and is recognized in income as it is realized and earned when these contingent events have occurred, consistent with the accounting guidance for gain contingencies. BGC transferred the remaining rights under the Nasdaq Earn-out to Newmark on September 28, 2017. Any Nasdaq shares that were received by BGC prior to September 28, 2017 were not transferred to Newmark. In connection with the Nasdaq Earn-out, Newmark received 992,247 shares during each of the years ended December 31, 2020 and December 31, 2019. In accordance with the terms of the agreement, Newmark would recognize the remaining Nasdaq Earn-out of up to 6,945,729 shares of Nasdaq shares ratably over approximately the next 7 years, provided that Nasdaq, as a whole, produces at least $25.0 million in gross revenues each year. On February 2, 2021, Nasdaq announced that it entered into a definitive agreement to sell its U.S. fixed income business to Tradeweb. On June 25, 2021, Nasdaq announced the close of the sale of its U.S. fixed income business, which accelerated Newmark’s receipt of Nasdaq shares. Newmark received 6,222,340 Nasdaq shares, with a fair value of $1,093.9 million based on the closing price on June 25, 2021 included in “Other (loss) income, net” for the nine months ended September 30, 2021 on the accompanying unaudited condensed consolidated statement of operations. As of September 30, 2021, Newmark has 2,763,825 Nasdaq shares, with a fair value of $536.2 million. On June 25, 2021, the SPV notified RBC of its decision to settle the third and fourth Nasdaq Forwards using the Nasdaq shares the SPV received on June 25, 2021. On July 2, 2021, Newmark settled the Nasdaq Forwards with 944,329 Nasdaq shares, with a fair value of $166.0 million based on the closing price of June 30, 2021, and retained 5,278,011 Nasdaq shares. Newmark sold 3,458,515 and 3,709,257 of the Nasdaq shares during the three and nine months ended September 30, 2021, respectively, and 343,562 for the nine months ended September 30, 2020. Newmark did not sell any Nasdaq shares during the three months ended September 30, 2020. The gross proceeds of the Nasdaq shares sold were $460.3 million and $495.7 million for the three and nine months ended September 30, 2021, respectively, and $34.7 million for the nine months ended September 30, 2020. Newmark recorded realized gains (loss) on the mark-to-market of these securities of $11.8 million and $16.5 million for the three and nine months ended September 30, 2021, respectively, and $2.2 million for the nine months ended September 30, 2020. Newmark recorded unrealized gains (loss) on the mark-to-market of these securities of $58.1 million and $41.5 million for the three and nine months ended September 30, 2021, respectively. Newmark did not record unrealized gains (loss) on the mark-to-market of these securities for the three and nine months ended September 30, 2020. Realized and unrealized gains on the mark-to-market of these shares are included in “Other income, net” on the accompanying unaudited condensed consolidated statements of operations. As of September 30, 2021 and December 31, 2020, Newmark had $536.2 million and $33.3 million, respectively, included in “Marketable securities” on the accompanying unaudited condensed consolidated balance sheets (see Note 20 — “Securities Loaned”). On August 2, 2021, a subsidiary of Newmark, Newmark OpCo, entered into a Master Repurchase Agreement (the “Repurchase Agreement”) with CF Secured, LLC (“CF Secured”), an affiliate of Cantor, pursuant to which Newmark may seek, from time-to-time, to execute short-term secured financing transactions. Repurchase agreements effect equity financing. The Company, under the Repurchase Agreement, may seek to sell securities, in this case common shares of Nasdaq, owned by the Company, to CF Secured, under the Repurchase Agreement, and agrees to repurchase those securities on a date certain at a repurchase price generally equal to the original purchase price plus interest. Pursuant to the Repurchase Agreement, as of September 30, 2021 the Company had 953,100 Nasdaq shares pledged in the amount of $184.9 million, against which Newmark received $140.0 million. The $140.0 million amount received from CF Secured is included in "Securities Loaned" on the accompanying unaudited condensed consolidated balance sheets (see Note 20 — "Securities Loaned" and Note 27 — “Related Party Transactions”). In October, 2021 Newmark received an additional amount of $260.0 million from CF Secured under the Repurchase Agreement. The value of the pledged securities for this additional borrowing was $365.4 million.

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments	InvestmentsNewmark has a 27% ownership in Real Estate LP, a joint venture with Cantor in which Newmark has the ability to exert significant influence over the operating and financial policies. Accordingly, Newmark accounts for this investment under the equity method of accounting. Newmark recognized equity (loss) income of $(7.4) million and $(11.6) million for the three and nine months ended September 30, 2020. Newmark did not recognize any equity (loss) or income for the three and nine months ended September 30, 2021. Equity (loss) income are included in "Other income, net" on the accompanying unaudited condensed consolidated statements of operations. Newmark did not receive any distributions for the three and nine months ended September 30, 2021 and 2020, respectively. The carrying value of these investments were $88.3 million and $88.3 million as of September 30, 2021 and December 31, 2020, respectively, included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets. Investments Carried Under Measurement Alternatives Newmark has acquired investments in entities for which it does not have the ability to exert significant influence over operating and financial policies (see Note 4 — “Acquisitions”). For the nine months ended September 30, 2021, Newmark recorded gains of $2.5 million on these investments. For the nine months ended September 30, 2020, Newmark recorded an unrealized loss of $26.8 million related to these investments. Newmark did not record realized gains or losses related to these investments for the three months ended September 30, 2021 and 2020. The changes in value are included as a part of “Other income (loss), net” on the accompanying unaudited condensed consolidated statements of operations. The carrying value of these investments were $14.0 million and $9.9 million as of September 30, 2021 and December 31, 2020, respectively, and are included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets.

Capital and Liquidity Requireme

Capital and Liquidity Requirements	9 Months Ended
	Sep. 30, 2021
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Capital and Liquidity Requirements	Capital and Liquidity Requirements Newmark is subject to various capital requirements in connection with seller/servicer agreements that Newmark has entered into with the various GSEs. Failure to maintain minimum capital requirements could result in Newmark’s inability to originate and service loans for the respective GSEs and could have a direct material adverse effect on the accompanying unaudited condensed consolidated financial statements. Management believes that, as of September 30, 2021 and December 31, 2020, Newmark had met all capital requirements. As of September 30, 2021, the most restrictive capital requirement was the net worth requirement of the Federal National Mortgage Association (“Fannie Mae”). Newmark exceeded the minimum requirement by $346.7 million. Certain of Newmark’s agreements with Fannie Mae allow Newmark to originate and service loans under Fannie Mae’s DUS Program. These agreements require Newmark to maintain sufficient collateral to meet Fannie Mae’s restricted and operational liquidity requirements based on a pre-established formula. Certain of Newmark’s agreements with the Federal Home Loan Mortgage Corporation (“Freddie Mac”) allow Newmark to service loans under TAH. These agreements require Newmark to pledge sufficient collateral to meet Freddie Mac’s liquidity requirement of 8% of the outstanding principal of TAH loans serviced by Newmark. Management believes that, as of September 30, 2021 and December 31, 2020, Newmark had met all liquidity requirements. In addition, as a servicer for Fannie Mae, the Government National Mortgage Association (“Ginnie Mae”) and Federal Housing Administration, Newmark is required to advance to investors any uncollected principal and interest due from borrowers. Outstanding borrower advances were $0.8 million and $0.8 million as of September 30, 2021 and December 31, 2020, respectively, and are included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets.

Loans Held for Sale, at Fair Va

Loans Held for Sale, at Fair Value	9 Months Ended
	Sep. 30, 2021
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance [Abstract]
Loans Held for Sale, at Fair Value	Loans Held for Sale, at Fair Value Loans held for sale, at fair value represent originated loans that are typically financed by short-term warehouse facilities (see Note 21 — “Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises”) and sold within 45 days from the date the mortgage loan is funded. Newmark initially and subsequently measures all loans held for sale at fair value on the accompanying unaudited condensed consolidated balance sheets. The fair value measurement falls within the definition of a Level 2 measurement (significant other observable inputs) within the fair value hierarchy. Electing to use fair value allows a better offset of the change in the fair value of the loans and the change in fair value of the derivative instruments used as economic hedges. Loans held for sale had a cost basis and fair value as follows (in thousands): September 30, 2021 December 31, 2020 Cost Basis $ 1,184,382 $ 1,062,511 Fair Value 1,200,192 1,086,805 As of September 30, 2021 and December 31, 2020, all of the loans held for sale were either under commitment to be purchased by Freddie Mac or had confirmed forward trade commitments for the issuance and purchase of Fannie Mae or Ginnie Mae mortgage-backed securities that will be secured by the underlying loans. As of September 30, 2021 and December 31, 2020, there were no loans held for sale that were 90 days or more past due or in nonaccrual status. Newmark records interest income on loans held for sale, in accordance with the terms of the individual loans, during the period prior to sale. Interest income on loans held for sale is included in “Management services, servicing fees and other” on the accompanying unaudited condensed consolidated statements of operations. Gains (losses) for fair value adjustments on loans held for sale is included in “Gains from mortgage banking activities/originations, net” on the accompanying unaudited condensed consolidated statements of operations. Interest income and gains (losses) for fair value adjustments on loans held for sale were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest income on loans held for sale $ 5,392 $ 6,806 $ 13,326 $ 18,862 Gains (loss) recognized on change in fair value on loans held for sale 9,989 1,978 15,810 27,136

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Newmark accounts for its derivatives at fair value and recognizes all derivatives as either assets or liabilities on the accompanying unaudited condensed consolidated balance sheets. In its normal course of business, Newmark enters into commitments to extend credit for mortgage loans at a specific rate (rate lock commitments) and commitments to deliver these loans to third-party investors at a fixed price (forward sale contracts). In addition, Newmark has entered into the Nasdaq Forwards (see Note 1 — “Organization and Basis of Presentation”) that are accounted for as derivatives. The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands): September 30, 2021 December 31, 2020 Derivative contract Assets Liabilities Notional Amounts (1) Assets Liabilities Notional Amounts (1) Rate lock commitments $ 14,081 $ 3,928 $ 387,914 $ 21,034 $ 2,977 $ 296,972 Nasdaq Forwards — — — 12,822 — 174,000 Forward sale contracts 15,486 8,886 1,572,296 7,632 14,971 1,359,482 Total $ 29,567 $ 12,814 $ 1,960,210 $ 41,488 $ 17,948 $ 1,830,454 (1) Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and do not represent anticipated losses. The change in fair value of rate lock commitments and forward sale contracts related to mortgage loans are reported as part of “Gains from mortgage banking activities/originations, net” on the accompanying unaudited condensed consolidated statements of operations. The change in fair value of rate lock commitments are disclosed net of $(0.5) million and $0.7 million of income for the three months ended September 30, 2021 and 2020, respectively, and $1.7 million and $1.6 million of expenses for the nine months ended September 30, 2021 and 2020, respectively. The changes in fair value of rate lock commitments are reported as part of “Compensation and employee benefits” on the accompanying unaudited condensed consolidated statements of operations. Gains and losses on derivative contracts, which are included on the accompanying unaudited condensed consolidated statements of operations were as follows (in thousands): Location of gain (loss) recognized in income for derivatives Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Derivatives not designed as hedging instruments: Nasdaq Forwards Other income (loss), net $ 221 $ (5,771) $ (12,183) $ (7,543) Rate lock commitments Gains (loss) from mortgage banking activities/originations, net (8,001) (3,951) 11,842 46,004 Rate lock commitments Compensation and employee benefits 488 (677) (1,689) (1,576) Forward sale contracts Gains (loss) from mortgage banking activities/originations, net 13,904 16,187 6,600 (32,105) Total $ 6,612 $ 5,788 $ 4,570 $ 4,780 Derivative assets and derivative liabilities are included in “Other current assets”, “Other assets” and the “Accounts payable, accrued expenses and other liabilities”, on the accompanying unaudited condensed consolidated balance sheets.

Credit Enhancement Receivable,

Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability	9 Months Ended
	Sep. 30, 2021
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit [Abstract]
Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability	Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability Newmark was a party to a Credit Enhancement Agreement (“CEA”), dated March 9, 2012, with German American Capital Corporation and Deutsche Bank Americas Holding Corporation (together, the “DB Entities”). On October 20, 2016, the DB Entities assigned the CEA to Deutsche Bank AG Cayman Island Branch, a Cayman Island Branch of Deutsche Bank AG (“DB Cayman”). Under the terms of these agreements, DB Cayman provided Newmark with varying levels of ongoing credit protection, subject to certain limits, for Fannie Mae and Freddie Mac loans subject to loss-sharing (see Note 23 — “Financial Guarantee Liability”) in Newmark’s servicing portfolio as of March 9, 2012. DB Cayman also reimbursed Newmark for any losses incurred due to violation of underwriting and servicing agreements that occurred prior to March 9, 2012. In accordance within the terms of the CEA, Newmark paid all amounts due to the DB Entities on March 23, 2021 fulfilling the Company's obligations under the agreement. For the three and nine months ended September 30, 2021 and 2020, there were no reimbursements under the CEA. Newmark's servicing portfolio consisted of the following loss-sharing components (in thousands): September 30, 2021 December 31, 2020 Total credit risk loan portfolio $ 25,461,276 $ 24,048,754 Maximum DB Cayman credit protection — 18,689 Maximum pre-credit enhancement loss exposure $ 7,642,218 $ 7,172,509 Maximum DB Cayman credit protection — 6,230 Maximum loss exposure without any form of credit protection $ 7,642,218 $ 7,166,279 Credit enhancement receivable As of September 30, 2021 and December 31, 2020, there were no credit enhancement receivables. Credit enhancement deposit The CEA required the DB Entities to deposit $25.0 million into Newmark’s Fannie Mae restricted liquidity account (see Note 9 — “Capital and Liquidity Requirements”). On of March 23, 2021, Newmark returned the credit enhancement deposit of $25.0 million to the DB Entities. The $25.0 million deposit was included in “Accounts payable, accrued expenses and other liabilities” and "Other long-term liabilities", respectively, on the accompanying unaudited condensed consolidated balance sheets as of December 31, 2020. Contingent liability Under the CEA, Newmark was required to pay DB Cayman, on March 9, 2021, an amount equal to 50% of the positive difference, if any, between (a) $25.0 million, and (b) Newmark’s unreimbursed loss-sharing payments from March 9, 2012 through March 9, 2021 on Newmark’s servicing portfolio as of March 9, 2012. On March 23, 2021 Newmark paid DB Cayman the entire outstanding amount. As of December 31, 2020 contingent liabilities were $12.3 million, and are included in “Accounts payable, accrued expenses and other liabilities” on the accompanying unaudited condensed consolidated balance sheets. There was no liability as of September 30, 2021.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	Revenues from Contracts with Customers The following table presents Newmark’s total revenues separately for its revenues from contracts with customers and other sources of revenues (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues from contracts with customers: Leasing and other commissions $ 231,533 $ 114,947 $ 563,311 $ 375,465 Capital markets commissions 252,095 82,956 558,254 263,838 Management services 198,537 107,439 524,518 338,106 Total 682,165 305,342 1,646,083 977,409 Other sources of revenue (1) : Gains from mortgage banking activities/originations, net 60,029 91,192 148,683 210,686 Servicing fees and other 45,932 39,390 127,211 115,477 Total $ 788,126 $ 435,924 $ 1,921,977 $ 1,303,572 (1) Although these items have customers under contract, they were recorded as other sources of revenue as they were excluded from the scope of ASU No. 2014-9. Disaggregation of revenues Newmark’s chief operating decision-maker, regardless of geographic location, evaluates the operating results, including revenues, of Newmark as total real estate (see Note 3 — “Summary of Significant Accounting Policies” for further discussion). Contract balances The timing of Newmark’s revenue recognition may differ from the timing of payment by its customers. Newmark records a receivable when revenue is recognized prior to payment and Newmark has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, Newmark records deferred revenue until the performance obligations are satisfied. Newmark’s deferred revenue primarily relates to customers paying in advance or billed in advance where the performance obligation has not yet been satisfied. Deferred revenue at September 30, 2021 and December 31, 2020 was $2.1

Gains from Mortgage Banking Act

Gains from Mortgage Banking Activities/Originations, Net	9 Months Ended
	Sep. 30, 2021
Mortgage Banking [Abstract]
Gains from Mortgage Banking Activities/Originations, Net	Gains from Mortgage Banking Activities/Originations, Net Gains from mortgage banking activities/originations, net consists of the following activity (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Fair value of expected net future cash flows from servicing recognized at commitment, net $ 33,642 $ 60,948 $ 88,175 $ 132,423 Loan originations related fees and sales premiums, net 26,387 30,244 60,508 78,263 Total $ 60,029 $ 91,192 $ 148,683 $ 210,686

Mortgage Servicing Rights, Net

Mortgage Servicing Rights, Net	9 Months Ended
	Sep. 30, 2021
Transfers and Servicing [Abstract]
Mortgage Servicing Rights, Net	Mortgage Servicing Rights, Net The changes in the carrying amount of MSRs were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Mortgage Servicing Rights 2021 2020 2021 2020 Beginning Balance $ 544,725 $ 460,473 $ 528,983 $ 432,666 Additions 28,246 53,006 98,820 126,571 Purchases from an affiliate — — — 200 Amortization (28,760) (24,901) (83,592) (70,859) Ending Balance $ 544,211 $ 488,578 $ 544,211 $ 488,578 Valuation Allowance Beginning Balance $ (18,319) $ (37,241) $ (34,254) $ (19,022) Decrease (increase) 8,031 1,850 23,966 (16,369) Ending Balance $ (10,288) $ (35,391) $ (10,288) $ (35,391) Net Balance $ 533,923 $ 453,187 $ 533,923 $ 453,187 Servicing fees are included in “Management services, servicing fees and other” on the accompanying unaudited condensed consolidated statements of operations and were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Servicing fees $ 35,444 $ 29,432 $ 102,534 $ 84,347 Escrow interest and placement fees 1,117 876 3,168 4,995 Ancillary fees 3,533 2,060 7,352 5,584 Total $ 40,094 $ 32,368 $ 113,054 $ 94,926 Newmark’s primary servicing portfolio at September 30, 2021 and December 31, 2020 was $68.0 billion and $66.3 billion, respectively. Also, Newmark is the named special servicer for a number of commercial mortgage-backed securitizations. Upon certain specified events (such as, but not limited to, loan defaults and loans assumptions), the administration of the loan is transferred to Newmark. Newmark’s special servicing portfolio was $2.1 billion and $2.3 billion at September 30, 2021 and December 31, 2020, respectively. The estimated fair value of the MSRs at September 30, 2021 and December 31, 2020 was $585.2 million and $527.1 million, respectively. Fair values are estimated using a valuation model that calculates the present value of the future net servicing cash flows. The cash flows assumptions used are based on assumptions Newmark believes market participants would use to value the portfolio. Significant assumptions include estimates of the cost of servicing per loan, discount rate, earnings rate on escrow deposits and prepayment speeds. The discount rates used in measuring fair value for the nine months ended September 30, 2021 and the year ended December 31, 2020 were between 6.1% and 13.5% and varied based on investor type. An increase in discount rate of 100 basis

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net The changes in the carrying amount of goodwill were as follows (in thousands): Balance, January 1, 2020 $ 557,914 Acquisitions 6,294 Measurement period adjustments (3,876) Balance, December 31, 2020 560,332 Acquisitions 90,844 Measurement period adjustments 519 Balance, September 30, 2021 $ 651,695 Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets . Newmark completed its annual goodwill impairment testing for the year ended December 31, 2020, which did not result in a goodwill impairment (see Note 4 — “Acquisitions” for more information). Other intangible assets consisted of the following (in thousands, except weighted-average life): September 30, 2021 Gross Accumulated Net Weighted- Indefinite life: Trademark and trade names $ 11,350 $ — $ 11,350 N/A License agreements (GSE) 5,390 — 5,390 N/A Definite life: Trademark and trade names 12,629 (5,509) 7,120 1.8 Non-contractual customers 30,131 (12,248) 17,883 9.6 License agreements 4,981 (4,981) — 0.0 Non-compete agreements 6,557 (3,654) 2,903 3.7 Contractual customers 27,145 (2,931) 24,214 2.6 Other 4,552 (1,587) 2,965 5.5 Total $ 102,735 $ (30,910) $ 71,825 5.0 December 31, 2020 Gross Accumulated Net Weighted- Indefinite life: Trademark and trade names $ 11,350 $ — $ 11,350 N/A License agreements (GSE) 5,390 — 5,390 N/A Definite life: Trademark and trade names 5,704 (4,519) 1,185 0.1 Non-contractual customers 30,131 (9,729) 20,402 7.2 License agreements 4,981 (4,266) 715 0.0 Non-compete agreements 6,557 (2,920) 3,637 0.6 Contractual customers 3,052 (1,584) 1,468 0.4 Other 350 (208) 142 0.0 Total $ 67,515 $ (23,226) $ 44,289 5.5 Intangible amortization expense for the three months ended September 30, 2021 and 2020 was $2.4 million and $1.7 million, respectively, and $6.5 million and $5.1 million for the nine months ended September 30, 2021 and 2020, respectively. Intangible amortization is included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations. Impairment charges are included in intangible amortization expense. The estimated future amortization of definite life intangible assets as of September 30, 2021 was as follows (in thousands): 2021 $ 2,411 2022 9,349 2023 8,989 2024 8,435 2025 7,076 Thereafter 18,825 Total $ 55,085

Fixed Assets, Net

Fixed Assets, Net	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Fixed Assets, Net	Fixed Assets, Net Fixed assets, net consisted of the following (in thousands): September 30, 2021 December 31, 2020 Leasehold improvements, furniture and fixtures, and other fixed assets $ 179,294 $ 126,428 Software, including software development costs 32,361 30,928 Computer and communications equipment 27,084 26,168 Total, cost 238,739 183,524 Accumulated depreciation and amortization (105,170) (87,157) Total, net $ 133,569 $ 96,367 Depreciation expense for the three months ended September 30, 2021 and 2020 was $6.4 million and $5.3 million, respectively, and $16.5 million and $13.6 million for the nine months ended September 30, 2021 and 2020, respectively. Newmark recorded an impairment charge of $1.1 million and $1.4 million for internally developed software for the three and nine months ended September 30, 2020, respectively. The impairment charge was included as a part of "Depreciation and amortization" on the accompanying condensed unaudited consolidated statements of operations. There is no impairment recorded for the three and nine months ended September 30, 2021. Capitalized software development costs for the nine months ended September 30, 2021 and 2020 were $0.8 million and $2.6 million, respectively. Capitalized software development for the three months September 30, 2020 was $0.5 million. There is no capitalized software developments costs recorded for the three months ended September 30, 2021. Amortization of software development costs totaled $0.3 million and $0.3 million for the three months ended September 30, 2021 and 2020, respectively, and $1.0 million and $0.9 million for the nine months ended September 30, 2021 and 2020, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases Newmark has operating leases for real estate and equipment. These leases have remaining lease terms ranging from 1 to 16 years, some of which include options to extend the leases in 5 to 10 years increments for up to 10 years. Renewal periods are included in the lease term only when renewal is reasonably certain, which is a high threshold and requires management to apply the judgment to determine the appropriate lease term. Certain leases also include periods covered by an option to terminate the lease if Newmark is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and, where relevant, variable rental payments tied to an index, such as the Consumer Price Index. Payments for leases in place before the date of adoption of ASC 842, Leases were determined based on previous leases guidance. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement is recognized as incurred. All leases were classified as operating leases as of September 30, 2021. Pursuant to the accounting policy election, leases with an initial term of twelve months or less are not recognized on the balance sheet. The short-term lease expense over the period reasonably reflects the Company’s short-term lease commitments. ASC 842, Leases requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or cancellation provisions, and determining the discount rate. The Company determines whether an arrangement is a lease or includes a lease at the contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from, and can direct the use of, the identified asset for a period of time, the Company accounts for the identified asset as a lease. The Company has elected the practical expedient to not separate lease and non-lease components for all leases other than real estate leases. The primary non-lease component that is combined with a lease component represents operating expenses such as utilities, maintenance or management fees. As the rate implicit in the lease is not usually available, the Company used an incremental borrowing rate based on the information available at the adoption date of the new Leases standard in determining the present value of lease payments for existing leases. The Company has elected to use a portfolio approach for the incremental borrowing rate, applying corporate bond rates to the leases. The Company calculated the appropriate rates with reference to the lease term and lease currency. The Company uses information available at the lease commencement date to determine the discount rate for any new leases. Operating lease costs, which were $27.2 million and $12.6 million for the three months ended September 30, 2021 and 2020, respectively, and $60.7 million and $37.6 million for the nine months ended September 30, 2021 and 2020, respectively, and are included in “Operating, administrative and other” on the accompanying unaudited condensed consolidated statements of operations. Operating cash flows for the nine months ended September 30, 2021 and 2020 included payments of $58.7 million and $36.4 million for operating lease liabilities, respectively. As of September 30, 2021 and December 31, 2020, Newmark did not have any leases that have not yet commenced but that create significant rights and obligations. For the three and nine months ended September 30, 2021 and 2020, Newmark had short-term lease expense of $0.5 million and $0.2 million, respectively, and $1.2 million and $0.7 million respectively. For the three months ended September 30, 2021 and 2020, Newmark had sublease income of $0.1 million and $0.4 million, respectively. For the nine months ended September 30, 2021 and 2020, Newmark had sublease income of $0.6 million and $0.4 million, respectively. The weighted-average discount rate as of September 30, 2021 and December 31, 2020 was 4.22% and 7.11% and the remaining weighted-average lease term was 7.5 years and 8.2 years, respectively. As of September 30, 2021 and December 31, 2020, Newmark had operating lease Right-of-use assets of $642.8 million and $190.5 million, respectively, and operating lease Right-of-use liabilities of $81.2 million and $29.5 million, respectively, recorded in “ Accounts payable, and accrued expenses and other liabilities Rent expense, including the operating lease costs above, for the three months ended September 30, 2021 and 2020 were $29.7 million and $12.3 million, respectively, and $62.9 million and $37.3 million for the nine months ended September 30, 2021 and 2020, respectively. Rent expense is included in “Operating, administrative and other” on the accompanying unaudited condensed consolidated statements of operations. Newmark is obligated for minimum rental payments under various non-cancelable operating leases, principally for office space, expiring at various dates through 2032. Certain of these leases contain escalation clauses that require payment of additional rent to the extent of increases in certain operating or other costs. Minimum lease payments under these arrangements were as follows (in thousands): September 30, 2021 December 31, 2020 2021 $ 65,475 $ 45,701 2022 117,374 42,072 2023 113,095 40,507 2024 107,259 37,866 2025 101,119 36,520 Thereafter 345,279 126,668 Total lease payments 849,601 329,334 Less: Interest 150,257 81,237 Present value of lease liability $ 699,344 $ 248,097

Other Current Assets and Other

Other Current Assets and Other Assets	9 Months Ended
	Sep. 30, 2021
Other Assets [Abstract]
Other Current Assets and Other Assets	Other Current Assets and Other Assets Other current assets consisted of the following (in thousands): September 30, 2021 December 31, 2020 Derivative assets $ 29,567 $ 32,259 Prepaid expenses 44,848 18,900 Other taxes 21,563 9,204 Rent and other deposits 19,121 1,539 Other 129 1,888 Total $ 115,228 $ 63,790 Other assets consisted of the following (in thousands): September 30, 2021 December 31, 2020 Deferred tax assets $ 101,060 $ 187,526 Equity method investment 88,308 88,315 Debt securities — 12,754 Non-marketable investments 13,958 9,927 Derivative assets — 9,229 Other 35,085 15,171 Total $ 238,411 $ 322,922

Securities Loaned

Securities Loaned	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Securities Loaned	Securities Loaned As of September 30, 2021, Newmark had Securities loaned are at contract value which approximates fair value with Cantor in the amount of $140.0 million pursuant to the Repurchase Agreement. The market value of the Securities loaned as of September 30, 2021, were $184.9 million ( see Note 7 — "Marketable Securities" and Note 27 — “Related Party Transactions”). The cash collateral received from Cantor bore an interest rate of 0.95%. In October 2021, Newmark received an additional amount of $260.0 million from CF Secured under the Repurchase Agreement. The value of the pledged securities for this additional borrowing was $365.4 million. As of December 31, 2020, Newmark had Securities loaned with Cantor of $33.3 million. The market value of the Securities loaned was $32.6 million as of December 31, 2020. The cash collateral received from Cantor bore an interest rate of 0.85% as of December 31, 2020.

Warehouse Facilities Collateral

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises	9 Months Ended
	Sep. 30, 2021
Brokers and Dealers [Abstract]
Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises	Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises Newmark uses its warehouse facilities and repurchase agreements to fund mortgage loans originated under its various lending programs. Outstanding borrowings against these lines are collateralized by an assignment of the underlying mortgages and third-party purchase commitments and are recourse only to Berkeley Point Capital, LLC. Newmark had the following lines available and borrowings outstanding (in thousands): Committed Uncommitted Balance at September 30, 2021 Balance at December 31, 2020 Stated Spread to One-Month LIBOR (3) Rate Type Warehouse facility due October 8, 2022 (1)(2) $ 600,000 $ — $ 414,236 $ 358,247 130 bps - 140 bps Variable Warehouse facility due June 15, 2022 450,000 — 418,944 292,040 130 bps -140 bps Variable Warehouse facility due June 15, 2022 — 300,000 — — 130 bps Variable Warehouse facility due September 25, 2022 400,000 — 315,656 146,380 130 bps - 140 bps Variable Fannie Mae repurchase agreement, open maturity (3) — 400,000 35,493 264,535 115 bps Variable Total $ 1,450,000 $ 700,000 $ 1,184,329 $ 1,061,202 (1) The warehouse line established a $125.0 million sublimit line of credit to fund potential principal and interest servicing advances on the Company's Fannie Mae portfolio during the forbearance period related to the CARES Act. Advances will have an interest rate of 1-month LIBOR plus 180 bps. There were no outstanding under this sublimit as of September 30, 2021. (2) The warehouse line was temporarily increased by $300 million to $900 million for the period December 1, 2020 to February 1, 2021. (3) The spread for the Fannie Mae repurchase line is to SOFR. The warehouse lines are to LIBOR. Pursuant to the terms of the warehouse facilities, Newmark is required to meet several financial covenants. Newmark was in compliance with all covenants as of September 30, 2021 and December 31, 2020, respectively. The borrowing rates on the warehouse facilities are based on short-term LIBOR plus applicable margins. Due to the short-term maturity of these instruments, the carrying amounts approximate fair value.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following (in thousands): September 30, 2021 December 31, 2020 6.125% Senior Notes $ 544,615 $ 542,772 Credit Facility — 137,613 Total $ 544,615 $ 680,385 6.125% Senior Notes On November 6, 2018, Newmark closed its offering of $550.0 million aggregate principal amount of 6.125% Senior Notes due 2023 (the “6.125% Senior Notes”). The 6.125% Senior Notes were priced on November 1, 2018 at 98.94% to yield 6.375%. The 6.125% Senior Notes were offered and sold by Newmark in a private offering exempt from the registration requirements under the Securities Act of 1933, as amended (“Securities Act”). The 6.125% Senior Notes were subsequently exchanged for notes with substantially similar terms that were registered under the Securities Act. The 6.125% Senior Notes bear an interest rate of 6.125% per annum, payable on each May 15 and November 15, beginning on May 15, 2019, and will mature on November 15, 2023. The carrying amount of the 6.125% Senior Notes was determined as follows (in thousands): September 30, 2021 December 31, 2020 Principal balance $ 550,000 $ 550,000 Less: debt issue cost 2,725 3,688 Less: debt discount 2,660 3,540 Total $ 544,615 $ 542,772 Newmark uses the effective interest rate method to amortize debt discounts and uses the straight-line method to amortize debt issue costs over the life of the notes. Interest expense, amortization of debt issue costs and amortization of the debt discount of the 6.125% Senior Notes, included in “Interest (expense) income, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest expense $ 8,720 $ 8,702 $ 26,146 $ 26,092 Debt issue cost amortization 321 321 963 963 Debt discount amortization 298 275 881 737 Total $ 9,339 $ 9,298 $ 27,990 $ 27,792 Debt Repurchase Program On June 16, 2020, the Newmark Board of Directors and its Audit Committee authorized a debt repurchase program for the repurchase by Newmark of up to $50.0 million of Newmark’s 6.125% Senior Notes and any future debt securities issued by the Company. As of September 30, 2021, Newmark had $50.0 million remaining under its debt repurchase authorization. Credit Facility On November 28, 2018, Newmark entered into a credit agreement by and among Newmark, the several financial institutions from time to time party thereto, as Lenders, and Bank of America N.A., as administrative agent (the “Credit Agreement”). The Credit Agreement provided for a $250.0 million three-year unsecured senior revolving credit facility (the “Credit Facility”). Borrowings under the Credit Facility bore an annual interest rate equal to, at Newmark’s option, either (a) LIBOR for specified periods, or upon the consent of all Lenders, such other period that is 12 months or less, plus an applicable margin, or (b) a base rate equal to the greatest of (i) the federal funds rate plus 0.5%, (ii) the prime rate as established by the administrative agent, and (iii) one-month LIBOR plus 1.0%, plus an applicable margin. The applicable margin is 2.0% with respect to LIBOR borrowings and can range from 1.25% to 2.25% in (a) above and was 1.00% with respect to base rate borrowings and can range from 0.25% to 1.25% in (b) above, depending upon Newmark’s credit rating. The Credit Facility also provides for an unused facility fee. On February 26, 2020, Newmark entered into an amendment to the Credit Agreement, increasing the size of the Credit Facility to $425.0 million (the “Amended Credit Facility”) and extending the maturity date to February 26, 2023. The annual interest rate on the Amended Credit Facility was reduced to LIBOR plus 1.75%, subject to a pricing grid linked to Newmark’s credit ratings from Standard & Poor’s and Fitch. On March 16, 2020, Newmark entered into a second amendment to the Credit Agreement, increasing the size of the Amended Credit Facility to $465.0 million (the "Second Amended Credit Facility"). The annual interest rate on the Second Amended Credit Facility is LIBOR plus 1.75%, subject to a pricing grid linked to Newmark’s credit ratings from Standard & Poor’s and Fitch. Details of the Credit Facility are as follows (in thousands): September 30, 2021 December 31, 2020 Principal balance $ — $ 140,000 Less: Debt issue cost — 2,387 Total $ — $ 137,613 As of September 30, 2021 and 2020, borrowings under the Credit Facility carried an interest rate of 1.84% and 1.91%, with a weighted-average interest rate of 0.42% and 2.53%, respectively. Newmark uses the straight-line method to amortize debt issue costs over the life of the notes. Interest expense and amortization of debt issue costs of the Credit Facility, included in “Interest (expense) income, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest expense $ 150 $ 1,805 $ 1,341 $ 5,504 Debt issue cost amortization 275 275 826 737 Unused facility fee 276 63 695 203 Total $ 701 $ 2,143 $ 2,862 $ 6,444 In July 2021, Newmark paid the $140.0 million outstanding on the Credit Facility. On November 30, 2018, Newmark entered into an unsecured credit agreement (the “Cantor Credit Agreement”) with Cantor (see Note 27 — “Related Party Transactions” for a more detailed discussion).

Financial Guarantee Liability

Financial Guarantee Liability	9 Months Ended
	Sep. 30, 2021
Guarantees [Abstract]
Financial Guarantee Liability	Financial Guarantee Liability Newmark shares risk of loss for loans originated under the Fannie Mae DUS and Freddie TAH programs and could incur losses in the event of defaults under or foreclosure of these loans. Under the loss-share guarantee, Newmark’s maximum liability to the extent of actual losses incurred is approximately 33% of the outstanding principal balance on Fannie Mae DUS or Freddie TAH loans. Risk-sharing percentages are established on a loan-by-loan basis when originated, with most loans at 33% and “modified” loans at lower percentages. Under certain circumstances, risk-sharing percentages can be revised subsequent to origination or Newmark could be required to repurchase the loan. In the event of a loss resulting from a catastrophic event that is not required to be covered by borrowers’ insurance policies, Newmark can recover the loss under its mortgage impairment insurance policy. Any potential recovery is subject to the policy’s deductibles and limits. At September 30, 2021, the credit risk loans being serviced by Newmark on behalf of Fannie Mae and Freddie Mac had outstanding principal balances of $25.5 billion with a maximum potential loss of $7.6 billion. At December 31, 2020, the credit risk loans being serviced by Newmark on behalf of Fannie Mae and Freddie Mac had outstanding principal balances of approximately $24.0 billion with a maximum potential loss of approximately $7.2 billion, of which $6.2 million was covered by the Credit Enhancement Agreement (see Note 12 — “Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability”). Newmark’s current estimate of expected credit losses considers various factors, including, without being limited to, historical default and losses, current delinquency status, loan size, terms, amortization types, the forward-looking view of the primary risk drivers (debt-service coverage ratio and loan-to-value) based on forecasts in economic conditions and local market performance. During the three and nine months ended September 30, 2021, there was an increase to the reserve by $1.1 million and decrease to the reserve by $5.2 million, respectively. For the nine months ended September 30, 2020, there was an increase in the reserve by $32.6 million. There was no increase in reserve for the three months ended September 30, 2020. A loan is considered to be delinquent once it is 60 days past due. As of September 30, 2021, there were two loans in the credit risk portfolio with an outstanding principal balance of $33.6 million, with a maximum loss exposure of $11.2 million, that was in default. If the two loans in default results in a loss event, proceeds from the liquidation of the assets are estimated to be approximately $29.9 million based on current estimates of fair value. Newmark’s share of the loss would approximate $1.7 million. As of December 31, 2020, there were four loans in the credit risk portfolio with outstanding principal balances of $53.5 million, with a maximum loss exposure of $17.8 million, that were delinquent. If all four delinquent loans resulted in a loss event, proceeds from the liquidation of the assets are estimated to be approximately $39.0 million based on estimates of fair value at December 31, 2020. Newmark's share of the loss would approximate $5.3 million. The provisions for risk-sharing were included in “Operating, administrative and other” on the accompanying unaudited condensed consolidated statements of operations as follows (in thousands): Balance, January 1, 2020 $ 15 Impact of adopting ASC 326 17,935 Provision for expected credit losses 11,631 Balance, December 31, 2020 29,581 Provision for expected credit losses (5,226) Balance, September 30, 2021 $ 24,355

Concentrations of Credit Risk

Concentrations of Credit Risk	9 Months Ended
	Sep. 30, 2021
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	Concentrations of Credit RiskThe lending activities of Newmark create credit risk in the event that counterparties do not fulfill their contractual payment obligations. In particular, Newmark is exposed to credit risk related to the Fannie Mae DUS and Freddie Mac TAH loans (see Note 23 — “Financial Guarantee Liability”). As of September 30, 2021, 21% and 13% of $7.6 billion of the maximum loss was for properties located in California and Texas, respectively. As of December 31, 2020, 21% and 14% of $7.2 billion of the maximum loss was for properties located in California and Texas, respectively.

Escrow and Custodial Funds

Escrow and Custodial Funds	9 Months Ended
	Sep. 30, 2021
Deposit Assets Disclosure [Abstract]
Escrow and Custodial Funds	Escrow and Custodial FundsIn conjunction with the servicing of multifamily and commercial loans, Newmark holds escrow and other custodial funds. Escrow funds are held at unaffiliated financial institutions generally in the form of cash and cash equivalents. These funds amounted to $1.2 billion and $1.3 billion, as of September 30, 2021 and December 31, 2020, respectively. These funds are held for the benefit of Newmark’s borrowers and are segregated in custodial bank accounts. These amounts are excluded from the assets and liabilities of Newmark.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities U.S. GAAP guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: • Level 1 measurements—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. • Level 2 measurements—Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly. • Level 3 measurements—Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. As required by U.S. GAAP guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table sets forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands): As of September 30, 2021 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 536,154 $ — $ — $ 536,154 Loans held for sale, at fair value — 1,200,192 — 1,200,192 Rate lock commitments — — 14,081 14,081 Nasdaq Forwards — — — — Forward sale contracts — — 15,486 15,486 Total $ 536,154 $ 1,200,192 $ 29,567 $ 1,765,913 Liabilities: Securities Loaned $ 140,000 $ — $ — $ 140,000 Contingent consideration — — 15,926 15,926 Rate lock commitments — — 3,928 3,928 Forward sale contracts — — 8,886 8,886 Total $ 140,000 $ — $ 28,740 $ 168,740 As of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 33,283 $ — $ — $ 33,283 Loans held for sale, at fair value — 1,086,805 — 1,086,805 Debt securities — 12,754 — 12,754 Rate lock commitments — — 21,034 21,034 Nasdaq Forwards — — 12,822 12,822 Forward sale contracts — — 7,632 7,632 Total $ 33,283 $ 1,099,559 $ 41,488 $ 1,174,330 Liabilities: Contingent consideration $ — $ — $ 31,481 $ 31,481 Rate lock commitments — — 2,977 2,977 Forwards sale contracts — — 14,971 14,971 Total $ — $ — $ 49,429 $ 49,429 There were no transfers among Level 1, Level 2 and Level 3 for the three and nine months ended September 30, 2021 and 2020. Level 3 Financial Assets and Liabilities: Changes in Level 3 Nasdaq Forwards, rate lock commitments, forward sale contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands): As of September 30, 2021 Opening Total realized Issuances Settlements Closing Unrealized Assets: Rate lock commitments $ 21,034 $ 14,081 $ — $ (21,034) $ 14,081 $ 14,081 Forward sale contracts 7,632 15,486 — (7,632) 15,486 15,486 Nasdaq Forwards 12,822 (12,822) — — — — Total $ 41,488 $ 16,745 $ — $ (28,666) $ 29,567 $ 29,567 Opening Total realized Issuances Settlements Closing Unrealized Liabilities: Contingent consideration $ 31,481 $ 724 $ — $ (16,279) $ 15,926 $ 15,926 Rate lock commitments 2,977 3,928 — (2,977) 3,928 3,928 Forward sale contracts 14,971 8,886 — (14,971) 8,886 8,886 Total $ 49,429 $ 13,538 $ — $ (34,227) $ 28,740 $ 28,740 As of December 31, 2020 Opening Total realized Issuances Settlements Closing Unrealized Assets: Rate lock commitments $ 32,035 $ 21,034 $ — $ (32,035) $ 21,034 $ 21,034 Forward sale contracts 14,389 7,632 — (14,389) 7,632 7,632 Nasdaq Forwards 26,502 (13,680) — — 12,822 12,822 Total $ 72,926 $ 14,986 $ — $ (46,424) $ 41,488 $ 41,488 Opening Total realized Issuances Settlements Closing Unrealized Liabilities: Contingent consideration $ 45,172 $ (11,063) $ 2,221 $ (4,849) $ 31,481 $ (408) Rate lock commitments 12,124 2,977 (12,124) 2,977 2,977 Forward sale contracts 13,537 14,971 (13,537) 14,971 14,971 Total $ 70,833 $ 6,885 $ 2,221 $ (30,510) $ 49,429 $ 17,540 Quantitative Information About Level 3 Fair Value Measurements The following tables present quantitative information about the significant unobservable inputs utilized by Newmark in the fair value measurement of Level 3 assets and liabilities measured at fair value on a recurring basis: September 30, 2021 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 15,926 Discount rate 0.3% - 10.4% (1) 8.7% Probability of meeting earnout and contingencies 0%- 99% (1) 79.2% Financial forecast information Derivative assets and liabilities: Nasdaq Forwards $ — $ — Implied volatility N/A N/A Forward sale contracts $ 15,486 $ 8,886 Counterparty credit risk N/A N/A Rate lock commitments $ 14,081 $ 3,928 Counterparty credit risk N/A N/A December 31, 2020 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 31,481 Discount rate 0.3% - 10.4% 7.1% Probability of meeting earnout and contingencies 0% - 100% (1) 93.9% Financial forecast information Derivative assets and liabilities: Nasdaq Forwards $ 12,822 $ — Implied volatility 42.4% - 42.6% (2) 42.5% Forward sale contracts $ 7,632 $ 14,971 Counterparty credit risk N/A N/A Rate lock commitments $ 21,034 $ 2,977 Counterparty credit risk N/A N/A (1) Newmark’s estimate of contingent consideration as of September 30, 2021 and December 31, 2020 was based on the acquired business’ projected future financial performance, including revenues. (2) The volatility of Newmark’s Nasdaq Forwards is primarily based on the volatility of the underlying Nasdaq stock price. Valuation Processes - Level 3 Measurements Both the rate lock commitments to borrowers and the forward sale contracts to investors are derivatives and, accordingly, are marked to fair value on the accompanying unaudited condensed consolidated statements of operations. The fair value of Newmark’s rate lock commitments to borrowers and loans held for sale and the related input levels includes, as applicable: • The assumed gain loss of the expected loan sale to the investor, net of employee benefits; • The expected net future cash flows associated with servicing the loan; • The effects of interest rate movements between the date of the rate lock and the balance sheet date; and • The nonperformance risk of both the counterparty and Newmark. The fair value of Newmark’s forward sales contracts to investors considers effects of interest rate movements between the trade date and the balance sheet date. The market price changes are multiplied by the notional amount of the forward sales contracts to measure the fair value. The fair value of Newmark’s rate lock commitments and forward sale contracts is adjusted to reflect the risk that the agreement will not be fulfilled. Newmark’s exposure to nonperformance in rate lock and forward sale contracts is represented by the contractual amount of those instruments. Given the credit quality of Newmark’s counterparties, the short duration of rate lock commitments and forward sales contracts, and Newmark’s historical experience with the agreements, management does not believe the risk of nonperformance by Newmark’s counterparties to be significant. The Nasdaq Forwards are derivatives and, accordingly, are marked to fair value on the accompanying unaudited condensed consolidated statements of operations. The fair value of the Nasdaq Forwards are determined utilizing the following inputs, as applicable: • The underlying number of shares and the related strike price; • The maturity date; and • The implied volatility of Nasdaq’s stock price. The fair value of Newmark’s Nasdaq Forwards considers the effects of Nasdaq’s stock price volatility between the balance sheet date and the maturity date. The fair value is determined by the use of a Black-Scholes put option valuation model. Information About Uncertainty of Level 3 Fair Value Measurements The significant unobservable inputs used in the fair value of Newmark’s contingent consideration are the discount rate and forecasted financial information. Significant increases (decreases) in the discount rate would have resulted in a significantly lower (higher) fair value measurement. Significant increases (decreases) in the forecasted financial information would have resulted in a significantly higher (lower) fair value measurement. As of September 30, 2021 and December 31, 2020, the present value of expected payments related to Newmark’s contingent consideration was $15.9 million and $31.5 million, respectively (see Note 31 — “Commitments and Contingencies”). As of September 30, 2021 and December 31, 2020, the undiscounted value of the payments, assuming that all contingencies are met, would be $29.7 million and $51.3 million, respectively. Fair Value Measurements on a Non-Recurring Basis Equity investments carried under the measurement alternative are remeasured at fair value on a non-recurring basis to reflect observable transactions which occurred during the period. Newmark applied the measurement alternative to equity securities with the fair value of $14.0 million and $9.9 million, which were included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets as of September 30, 2021 and December 31, 2020, respectively. These investments are classified within Level 2 in the fair value hierarchy, because their estimated fair value is based on valuation methods using the observable transaction price at the transaction date.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions (a) Service Agreements Newmark receives administrative services, including but not limited to, treasury, legal, accounting, information technology, payroll administration, human resources, incentive compensation plans and other support, provided by Cantor. Allocated expenses were $5.7 million and $6.1 million for the three months ended September 30, 2021 and 2020, respectively, and $17.7 million and $17.1 million for the nine months ended September 30, 2021 and 2020, respectively. These expenses are included as part of “Fees to related parties” on the accompanying unaudited condensed consolidated statements of operations. (b) Loans, Forgivable Loans and Other Receivables from Employees and Partners Newmark has entered into various agreements with certain employees and partners whereby these individuals receive loans which may be either wholly or in part repaid from the distribution of earnings that the individuals receive on some or all of their limited partnership interests or may be forgiven over a period of time. The forgivable portion of these loans is recognized as compensation expense over the life of the loans. From time to time, Newmark may also enter into agreements with employees and partners to grant bonus and salary advances or other types of loans. These advances and loans are repayable in the timeframes outlined in the underlying agreements. As of September 30, 2021 and December 31, 2020, the aggregate balance of employee loans was $449.7 million and $454.3 million, respectively, and is included as “Loans, forgivable loans and other receivables from employees and partners, net” on the accompanying unaudited condensed consolidated balance sheets. Compensation expense for the above-mentioned employee loans for the three months ended September 30, 2021 and 2020 was $17.2 million and $18.3 million, respectively, and $54.0 million and $50.2 million for the nine months ended September 30, 2021 and 2020, respectively.. The compensation expense related to these employee loans is included as part of “Compensation and employee benefits” on the accompanying unaudited condensed consolidated statements of operations. Transfer of Employees to Newmark and Other Related Party Transactions In connection with the expansion of the mortgage brokerage and lending activities, Newmark has entered into an agreement with Cantor pursuant to which five former employees of Cantor's affiliate, Cantor Commercial Real Estate ("CCRE"), transferred to Newmark, effective as of May 1, 2018. In connection with this transfer of employees, Cantor paid $6.9 million to Newmark in October 2018, and Newmark Holdings issued $6.7 million of limited partnership units and $0.2 million of cash in the form of a cash distribution agreement to the employees. In addition, Newmark Holdings issued $2.2 million of Newmark Holdings partnership units with a capital account and $0.5 million of limited partnership units in exchange for the cash payment from Cantor to Newmark of $2.2 million. Newmark recorded $6.9 million and $2.2 million as “Stockholders’ equity” and “Redeemable partnership interests”, respectively, on the unaudited condensed consolidated balance sheets. In consideration for the Cantor payment, Newmark agreed to return up to a maximum of $3.3 million to Cantor based on the employees’ production during their first two years of employment with Newmark. In July 2020, Newmark paid $3.3 million to Cantor based on the employees’ production, satisfying this liability. As of September 30, 2021, Newmark did not have an outstanding balance to Cantor related to this transaction. Newmark has agreed to allow certain of these employees to continue to provide consulting services to Cantor in exchange for a forgivable loan which was directly paid by Cantor to these employees. In February 2019, Newmark's Audit Committee authorized Newmark and its subsidiaries to originate and service GSE loans for Cantor and its affiliates (other than BGC) and service loans originated by Cantor and its affiliates (other than BGC) on prices, rates and terms no less favorable to Newmark and its subsidiaries than those charged by third parties. The authorization is subject to certain terms and conditions, including but not limited to: (i) a maximum amount up to $100.0 million per loan, (ii) a $250.0 million limit on loans that have not yet been acquired or sold to a GSE at any given time, and (iii) a separate $250.0 million limit on originated Fannie Mae Loans outstanding to Cantor at any given time. On November 30, 2020, we entered into an arrangement to assist View, Inc. (“View”) in the sale of its products and services to real estate clients in exchange for commissions. View, Inc. is a Silicon Valley-based producer of high-efficiency dynamic glass that controls light, heat, and glare, providing unobstructed views and privacy using a low voltage control system. In connection with the arrangement, View also agreed to engage us as its exclusive provider of real estate services for a period of at least five years. While View is not under common control with us, it was, at the time that the agreement was executed, the target of a merger with CF Finance Acquisition Corp. II, a special purpose acquisition company sponsored by Cantor. (c) Transactions with CCRE Newmark has a referral agreement in place with CCRE, in which Newmark’s brokers are incentivized to refer business to CCRE through a revenue-share agreement. Newmark recognized $0.7 million and $0.4 million of revenue for the three months ended September 30, 2021 and 2020, respectively, and $1.7 million and $0.5 million for the nine months ended September 30, 2021 and 2020, respectively in connection with this revenue-share agreement. Newmark also has a revenue-share agreement with CCRE, in which Newmark pays CCRE for referrals for leasing or other services. Newmark did not make any payments under this agreement to CCRE for the three and nine months ended September 30, 2021 and 2020, respectively. In addition, Newmark has a loan referral agreement in place with CCRE, in which either party can refer a loan to the other. Newmark did not have any revenues from these referrals for the three and nine months ended September 30, 2021 and 2020, respectively. Such revenues are recognized in “Gains from mortgage banking activities/originations, net” on the accompanying unaudited condensed consolidated statements of operations. These referral fees are net of the broker fees and commissions paid to CCRE. Newmark did not purchase any primary servicing rights during the nine months ended September 30, 2021. Newmark purchased the primary servicing rights of loans originated by CCRE for $227.0 million of loans originated by CCRE for $0.2 million for the nine months ended September 30, 2020. Newmark also services loans for CCRE on a “fee for service” basis, generally prior to a loan’s sale or securitization, and for which no MSR is recognized. Newmark recognized servicing revenues (excluding interest and placement fees) from servicing rights purchased from CCRE on a “fee for service” basis of $0.9 million and $1.3 million for the three months ended September 30, 2021 and 2020, respectively, and $2.7 million and $3.3 million for the nine months ended September 30, 2021 and 2020, respectively, which was included as part of “Management services, servicing fee and other” on the accompanying unaudited condensed consolidated statements of operations. On July 22, 2019, Cantor Commercial Real Estate Lending, L.P. (“CCRE Lending”), a wholly owned subsidiary of Real Estate LP, made a $146.6 million commercial real estate loan (the “Loan”) to a single-purpose company (the “Borrower”) in which Barry Gosin, Newmark’s Chief Executive Officer, owns a 19% interest. The Loan is secured by the Borrower’s interest in property in Pennsylvania that is subject to a ground lease. While CCRE Lending initially provided the full loan amount, on August 16, 2019, a third-party bank purchased approximately 80% of the Loan value from CCRE Lending, with CCRE Lending retaining approximately 20%. The Loan matures on August 6, 2029, and is payable monthly at a fixed interest rate of 4.38% per annum. Newmark provided certain commercial loan brokerage services to the Borrower in the ordinary course of its business, and the Borrower paid Newmark a fee, as the broker of the Loan, of $0.7 million. The Newmark Audit Committee approved the commercial loan brokerage services and the related fee amount received. Transactions with Executive Officers and Directors Executive Compensation On March 16, 2021, the Company redeemed 30,926 non-exchangeable Newmark Holdings PSUs held by Mr. Merkel for zero and in connection therewith issued 28,962 shares of our Class A common stock. On the same day, the Company repurchased these shares from Mr. Merkel at the closing price of our Class A common stock of $11.09 per share under our stock buyback program. The total payment delivered to Mr. Merkel was $0.3 million, less applicable taxes and withholdings. The Compensation Committee approved these transactions. On March 16, 2021, pursuant to the Newmark standing policy for Mr. Lutnick, the Compensation Committee granted exchange rights and/or monetization rights with respect to rights available to Mr. Lutnick. Mr. Lutnick elected to waive such rights one-time with such future opportunities to be cumulative. The aggregate number of Mr. Lutnick’s units for which he waived exchange rights or other monetization rights is 4,423,457 non-exchangeable Newmark Holdings PSUs/NPSUs, inclusive of the PSUs receiving an HDU conversion right and 1,770,016 non-exchangeable Newmark Holdings PPSUs with an aggregate determination amount of $21.6 million at that time, inclusive of the PPSUs receiving an HDU conversion right. On March 16, 2021, the Compensation Committee granted Mr. Gosin exchange rights into shares of Class A common stock with respect to 526,828 previously awarded non-exchangeable Newmark Holdings PSUs and 30,871 non-exchangeable Newmark Holdings APSUs held by Mr. Gosin (which, based on the closing price of the Class A common stock of $11.09 per share on such date and using the exchange ratio of 0.9365, had a value of $5.8 million in the aggregate). In addition, on March 16, 2021, the Compensation Committee approved removing the sale restrictions on Mr. Gosin’s remaining 178,232 restricted shares of Class A common stock in BGC (which were originally issued in 2013) and associated 82,680 remaining restricted shares of Newmark Class A common stock (issued as a result of the Company spin-off in November 2018). On March 16, 2021, the Compensation Committee granted Mr. Rispoli (i) exchange rights into shares of Class A common stock with respect to 6,043 previously awarded non-exchangeable Newmark Holdings PSUs held by Mr. Rispoli (which, based on the closing price of the Class A common stock of $11.09 per share on such date and using the exchange ratio of 0.9365, had a value of $0.1 million); and (ii) exchange rights into cash with respect to 4,907 previously awarded non-exchangeable Newmark Holdings PPSUs held by Mr. Rispoli (which had an average determination price of $15.57 per unit, for a total of $0.1 million in the aggregate to be paid for taxes when (i) is exchanged). On April 27, 2021, the Compensation Committee approved an additional monetization opportunity for Mr. Merkel: (i) 73,387 of Mr. Merkel’s 145,384 non-exchangeable Newmark Holdings PSUs were redeemed for zero, (ii) 19,426 of Mr. Merkel’s 86,649 non-exchangeable Newmark Holdings PPSUs were redeemed for a cash payment of $0.2 million, and (iii) 68,727 shares of our Class A common stock were issued to Mr. Merkel. On the same day, the 68,727 shares of our Class A common stock were repurchased from Mr. Merkel at $10.67 per share, the closing price of our Class A common stock on that date, under our stock buyback program. The total payment delivered to Mr. Merkel was $0.8 million, less applicable taxes and withholdings. On June 28, 2021, in connections with the 2021 Equity Event, the Compensation Committee approved the specific transactions with respect to the Company’s executive officers set forth below. All of the transactions included in the 2021 Equity Event, with respect to Messrs. Lutnick, Gosin and Rispoli, were based on (i) the price for Newmark Class A common stock of $12.50 per share, as approved by the Compensation Committee; (ii) the price of BGC Partners Class A common stock of $5.86; and (iii) the price of Nasdaq common stock of $177.11. Howard W. Lutnick, Chairman On June 28, 2021, the Compensation Committee approved the following for Howard W. Lutnick, the Company’s Chairman: (i) the exchange of 279,725 exchangeable Newmark Holdings PSUs (currently in the share count) into 263,025 shares of Newmark Class A common stock based on the current exchange ratio of 0.9403; (ii) the redemption of 193,530 exchangeable Newmark Holdings PPSUs for a cash payment of $2.5 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the Newmark Class A common stock in (i) above; (iii) the redemption of 2,909,819 non-exchangeable Newmark Holdings PSUs, pursuant to Mr. Lutnick’s rights under his existing standing policy and issuance of 2,736,103 shares of Newmark Class A common stock to him based upon the current exchange ratio of 0.9403; (iv) the redemption of 793,398 non-exchangeable Newmark Holdings PPSUs pursuant to Mr. Lutnick’s rights under his existing standing policy for a cash payment of $22.9 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the above Newmark Class A common stock in (iii) above; (v) the conversion of 552,482.62 non-exchangeable Newmark Holdings PSUs with the right to exchange PSUs into HDUs (“H-Rights”) into 552,482.62 non-exchangeable HDUs and redemption of such HDUs for their Capital Account, paid in the form of Nasdaq Shares; (vi) the redemption of 602,462.94 non-exchangeable PPSUs for a cash payment of $8.0 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of above Newmark Holdings HDU cash payment; (vii) the exchange of 520,380 exchangeable BGC Holdings PSUs into 520,380 shares of BGC Class A common stock; (viii) the redemption of 425,766 exchangeable BGC Holdings PPSUs for a cash payment of $2.4 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the above BGC shares in (viii); (ix) the redemption of 88,636 non-exchangeable BGC Holdings PSUs pursuant to Mr. Lutnick’s rights under his existing standing policy, and the issuance of 88,636 shares of BGC Class A common stock; (x) the conversion of 1,131,774 non-exchangeable BGC Holdings PSUs with H-Rights into 1,131,774 non-exchangeable BGC Holdings HDUs; (xi) the redemption of 1,018,390 non-exchangeable BGC Holdings PPSUs with rights to redeem for cash in connection with the exercise of above BGC Holdings HDUs for a cash payment of $0.3 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of above BGC Holdings HDU cash payment; and (xii) the issuance of 29,059 shares of Newmark Class A common stock. Barry M. Gosin, Chief Executive Officer On September 20, 2021, the Compensation Committee approved a monetization opportunity for Mr. Gosin: all of Mr. Gosin’s 2,114,546 non-exchangeable BGC Holdings PSUs were redeemed for zero and 2,114,456 shares of BGC Class A common stock were issued to Mr. Gosin. On June 28, 2021, the Compensation Committee approved the following for Barry M. Gosin, the Company’s Chief Executive Officer: (i) the exchange of 1,531,061.84 exchangeable Newmark Holdings units (comprised of 1,438,597.37 exchangeable Newmark Holdings PSUs and 92,464.47 exchangeable Newmark Holdings APSUs) into 1,439,658 shares of Newmark Class A common stock based upon the current exchange ratio of 0.9403; (ii) the redemption of 60,753.97 exchangeable Newmark Holdings PPSUs for a cash payment of $9.2 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the Newmark shares in (i) above; (iii) the conversion of 443,871.60 non-exchangeable Newmark Holdings PSUs with H-Rights into 443,871.60 non-exchangeable Newmark Holdings HDUs, less any taxes and withholdings in excess of $5.4 million, and redemption of such HDUs for their Capital Account, paid in the form of Nasdaq Shares; (iv) the redemption of 539,080.23 non-exchangeable Newmark Holdings PPSUs for cash in connection with the delivery of the Newmark Holdings HDU cash payment in (iii) above; (v) the exchange of 3,348,706 exchangeable BGC Holdings units (comprised of 3,147,085 exchangeable BGC Holdings PSUs and 201,621 Exchangeable BGC Holdings APSUs) into 3,348,706 shares of BGC Class A common stock; (vi) the redemption of 80,891 exchangeable BGC Holdings PPSUs for a cash payment of $9.8 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the BGC shares in (v) above; (vii) the conversion of 1,592,016 non-exchangeable BGC Holdings PSUs with H-Rights to into 1,592,016 non-exchangeable BGC Holdings HDUs, less applicable taxes and withholdings in excess of the BGC Holdings PPSU value in (viii) below; (viii) the redemption of 264,985 non-exchangeable BGC Holdings PPSUs with rights to redeem for cash in connection with exercise of above BGC Holdings HDUs for a cash payment of $0.0 million, to be remitted to the applicable tax authorities in connection with the delivery of the BGC Holdings HDU cash payment in (vii) above; and (ix) the issuance of 12,500 Newmark Class A common stock. Michael J. Rispoli, Chief Financial Officer On June 28, 2021, the Compensation Committee approved the following for Mr. Michael Rispoli, the Company’s Chief Financial Officer: (i) the exchange of 23,124 exchangeable Newmark Holdings PSUs into 21,744 shares of Newmark Class A common stock based on the current exchange ratio of 0.9403; (ii) the redemption of 18,668.77 exchangeable Newmark Holdings PPSUs for a cash payment of $0.2 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the Newmark shares in (i) above; (iii) the redemption of 6,000 non-exchangeable Newmark Holdings PSUs and the issuance of 5,642 Restricted Shares of Newmark Class A common stock based upon the current exchange ratio of 0.9403; (iv) the conversion of 5,846 non-exchangeable Newmark Holdings PSUs with H-Rights into 5,846 non-exchangeable Newmark Holdings HDUs and the redemption of such HDUs for their Capital Account, paid in the form of Nasdaq Shares; (v) the redemption of 4,917 non-exchangeable Newmark Holdings PPSUs with rights to redeem for cash in connection with the exercise of above Newmark Holdings HDUs for a cash payment of $0.1 million, to be remitted to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the HDU cash payment in (iv) above; (vi) the exchange of 36,985 exchangeable BGC Holdings PSUs into 36,985 shares of BGC Class A common stock; (vii) the redemption of 29,791 exchangeable BGC Holdings PPSUs for a cash payment of $0.1 million to the applicable tax authorities to the extent necessary for payment in connection with the delivery of the BGC shares in (vi) above; and (viii) the issuance of 383 Newmark Class A Common Stock. Stephen M. Merkel, Chief Legal Officer On June 28, 2021 the Compensation Committee also approved the following for Stephen M. Merkel, the Company’s Chief Legal Officer: (i) the redemption of 51,124.28 non-exchangeable Newmark Holdings PSUs and issuance of 48,072 shares of Newmark Class A common stock based upon the current exchange ratio of 0.9403; and (ii) the redemption of 46,349.87 non-exchangeable Newmark Holdings PPSUs for a cash payment of $0.5 million, to be remitted to the applicable tax authorities to the extent necessary in connection with the issuance of the shares above. Retirement Fund Purchase On April 27, 2021, a Keough retirement account held by Mr. Lutnick purchased 5,154 shares of our Class A common stock from us at the closing price of our Class A common stock on that date of $10.67 per share. The transaction was approved by our Audit Committee. On November 4, 2020, the Audit Committee of the Board of Directors authorized entities in which executive officers have a non-controlling interest to engage Newmark to provide ordinary course real estate services to them as long as Newmark’s fees are consistent with the fees that Newmark ordinarily charges for these services. CF Real Estate Finance Holdings, LP. Contemporaneously with the acquisition of Berkeley Point, on September 8, 2017, Newmark invested $100.0 million in a newly formed commercial real estate-related financial and investment business, Real Estate LP, which is controlled and managed by Cantor. Real Estate LP may conduct activities in any real estate related business or asset backed securities related business or any extensions thereof and ancillary activities thereto. As of September 30, 2021 and December 31, 2020, Newmark’s investment was accounted for under the equity method (see Note 8 — “Investments”). Transactions with Cantor Fitzgerald & Co., a wholly owned broker-dealer subsidiary of Cantor "CF&Co" On June 18, 2018 and September 26, 2018, Newmark entered into transactions related to the monetization of the Nasdaq shares that Newmark expects to receive in 2019 through 2022 (see Note 1 — “Organization and Basis of Presentation”). Newmark paid $4.0 million in fees for services provided by CF&Co related to these monetization transactions. These fees were recorded as a deduction from the carrying amount of the EPUs. On November 6, 2018, Newmark issued an aggregate of $550.0 million principal amount of 6.125% Senior Notes due 2023. In connection with this issuance of the 6.125% Senior Notes, Newmark paid $0.8 million in underwriting fees to CF&Co. (d) Other Related Party Transactions On November 30, 2018, Newmark entered into an unsecured credit agreement with Cantor (the “Cantor Credit Agreement”). The Cantor Credit Agreement provides for each party to issue loans to the other party at the lender’s discretion. Pursuant to the Cantor Credit Agreement, the parties and their respective subsidiaries (with respect to Cantor, other than BGC and its subsidiaries) may borrow up to an aggregate principal amount of $250 million from each other from time to time at an interest rate which is the higher of Cantor’s or Newmark’s short-term borrowing rate then in effect, plus 1%. There were no receivables from related parties as of September 30, 2021 and December 31, 2020, respectively. Payables to related parties were $7.3 million and $4.4 million as of September 30, 2021 and December 31, 2020, respectively. For a detailed discussion about Newmark’s Payables to related parties, see Note 1 — “Organization and Basis of Presentation”, Note 2 — “Limited Partnership Interests in Newmark and BGC Holdings” and Note 22 — “Long-Term Debt” in Newmark’s consolidated financial statements, included in Part II, Item 8 of Newmark’s Annual Report on Form 10-K for the year ended December 31, 2020. On May 15 2020, BGC U.S. OpCo ("BGC") entered into an arrangement to sublease excess space from RKF Retail Holdings LLC, a subsidiary of Newmark, which was approved by the Newmark Audit Committee. The deal was a one-year sublease of approximately 21,000 rentable square feet in New York City. Under the terms of the sublease, BGC U.S. OpCo paid a fixed rent amount of $1.1 million in addition to all operating and tax expenses attributable to the lease. In May 2021, the sublease was amended to provide for a rate of $15 thousand per month based on the size of utilized space, in addition to terms extending on a month-to-month basis. In connection with the sublease, Newmark received $0.1 million and $0.4 million for the three months ended September 30, 2021 and 2020, respectively. In connection with the sublease, Newmark received $0.5 million for both the nine months ended September 30, 2021 and 2021, respectively. As part of the Knotel acquisition, Newmark assigned the rights to acquire certain Knotel assets to a subsidiary of Cantor, on the terms that if the subsidiary monetized the sale of these assets, Newmark would receive 10% of the proceeds of the sale after the subsidiary recoups its investment in the assets. On June 28, 2021, the Audit Committee authorized Newmark to hire a son of its Chairman as a full-time employee of its Knotel business with an annual base salary of $125,000 and an annual discretionary bonus of up to 30%. The arrangement includes a potential profit participation consistent with other entrepreneurial arrangements in the event of certain liquidity events related to businesses developed by him. Cantor Rights to Purchase Cantor Units from Newmark Holdings Cantor has a right to purchase from Newmark Holdings exchangeable limited partnership interests in the event that any Newmark Holdings founding partner interests that have not become exchangeable are redeemed by Newmark Holdings upon termination or bankruptcy of a founding partner or upon mutual consent of the general partner of Newmark Holdings and Cantor. Cantor has the right to purchase such Newmark Holdings exchangeable limited partnership interests at a price equal to the lesser of (1) the amount that Newmark Holdings would be required to pay to redeem and purchase such Newmark Holdings founding partner interests and (2) the amount equal to (a) the number of units underlying such founding partner interests, multiplied by (b) the exchange ratio as of the date of such purchase, multiplied by (c) the then-current market price of our Class A common stock. Cantor may pay such price using cash, publicly traded shares or other property, or a combination of the foregoing. If Cantor (or the other member of the Cantor group acquiring such limited partnership interests, as the case may be) so purchases such limited partnership interests at a price equal to clause (2) above, neither Cantor nor any member of the Cantor group nor Newmark Holdings nor any other person is obligated to pay Newmark Holdings or the holder of such founding partner interests any amount in excess of the amount set forth in clause (2) above. In addition, the Newmark Holdings limited partnership agreement provides that (1) where either current, terminating or terminated partners are permitted by us to exchange any portion of their founding partner units and Cantor consents to such exchangeability, we will offer to Cantor the opportunity for Cantor to purchase the same number of new exchangeable limited partnership interests in Newmark Holdings at the price that Cantor would have paid for exchangeable limited partnership interests in the event we had redeemed the founding partner units; and (2) the exchangeable limited partnership interests to be offered to Cantor pursuant to clause (1) above would be subject to, and granted in accordance with, applicable laws, rules and regulations then in effect. If Cantor acquires any units as a result of the purchase or redemption by Newmark Holdings of any founding partner interests, Cantor will be entitled to the benefits (including distributions) of the units it acquires from the date of termination or bankruptcy of the applicable founding partner. In addition, any such units will be exchangeable by Cantor for a number of shares of our Class B common stock or, at Cantor’s election, shares of our Class A common stock, in each case, equal to the then-current exchange ratio, on the same basis as the limited partnership interests held by Cantor, and will be designated as Newmark Holdings exchangeable limited partnership interests when acquired by Cantor. The exchange ratio was initially one, but is subject to adjustment as set forth in the Separation and Distribution Agreement and was 0.9339 as of September 30, 2021. This may permit Cantor to receive a larger share of income generated by our business at a less expensive price than through purchasing shares of our Class A common stock, which is a result of the price payable by Cantor to Newmark. . On March 31, 2021, Cantor purchased from Newmark Holdings an aggregate of (i) 273,088 exchangeable limited partnership interests for aggregate consideration of $1,105,598 as a result of the redemption of 273,088 founding partner interests, and (ii) 735,625 exchangeable limited partnership interests for aggregate consideration of $2,918,919 as a result of the exchange of 735,625 founding partner interests. Following such purchases, as of September 30, 2021 there were 217,617 founding partner interests in Newmark Holdings remaining in which the partnership had the right to redeem or exchange and with respect to which Cantor will have the right to purchase an equivalent number of Cantor units following such redemption or exchange. Special Purpose Acquisition Company As previously reported, in April 2021, Newmark OpCo and Cantor entered into various arrangements pursuant to which they agreed to co-sponsor a special purpose acquisition company, named Newmark Acquisition Corp. (the “SPAC”), in which certain of the Company's executive officers are executive officers and are expected to be directors. Pursuant to a purchase agreement, Newmark OpCo purchased from Cantor a 75% equity interest in an entity now known as Newmark Acquisition Holdings, LLC, the sponsor of the SPAC (the “Sponsor”), for $18.8 thousand, with Cantor retaining the remaining 25% equity interest in the Sponsor. Pursuant to an amended and restated limited liability company agreement of the Sponsor, Newmark OpCo is the managing member of the Sponsor, and Newmark OpCo and Cantor have agreed to make additional equity contributions to the Sponsor in order to fund the obligations of the Sponsor with respect to the SPAC in proportion to their equity ownership in the Sponsor. Also, in April 2021, the Sponsor agreed to lend to the SPAC up to $0.3 million without interest in order to cover expenses related to any initial public offering of the SPAC; the maturity date of the loans is the earlier of the consummation of the initial public offering of the SPAC and December 31, 2021. As of September 30, 2021 the amount outstanding on this Pre-IPO loan is $23 thousand and is included in "Related Party Payables" in our accompanying condensed consolidated unaudited balance sheets. Newmark OpCo Borrowing facility with Cantor On August 2, 2021, a subsidiary of Newmark, Newmark OpCo, entered into a Master Repurchase Agreement “Repurchase Agreement with CF Secured, an affiliate of Cantor, pursuant to which Newmark may seek, from time-to-time, to execute short-term secured financing transactions. Repurchase agreements effect equity financing. The Company, under the Repurchase Agreement, may seek to sell securities, in this case common shares of Nasdaq, owned by the Company, to CF Secured, under the Repurchase Agreement, and agrees to repurchase those securities on a date certain at a repurchase price generally equal to the original purchase price plus interest. Pursuant to the Repurchase Agreement, the Company and CF Secured agreed to enter into a repurchase transaction, wherein CF Secured will deliver the cash of such repurchase transaction to the Company on an overnight basis at an initial rate of 0.95% per annum (approximately 1.00% less expensive than Newmark’s revolving credit facility), and the Company will deliver to CF Secured the number of shares of Nasdaq as collateral so that the market value of such shares equals 130% of such cash proceeds. The Nasdaq shares will be marked to market daily, and the minimum maintenance margin requirement, should the share price decline, will be 120% of such cash proceeds. The Company will be required to transfer additional collateral (securities and/or cash) in the event of a margin percentage decline below 120%. As of September 30, 2021, the amount of shares pledge was 953,100 and the amount outstanding under this borrowing facility was $140.0 million and is included in "Securities Loaned" on the accompanying unaudited condensed consolidated balance sheets. (see Note 7 — "Marketable Securities" and Note 20 — “Securities Loaned”). In October 2021, Newmark received an additional amount of $260.0 million from the CF Secured Repurchase Agreement. The value of t

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The accompanying unaudited condensed consolidated financial statements include U.S. federal, state and local income taxes on Newmark’s allocable share of its U.S. results of operations, as well as taxes payable to jurisdictions outside the U.S. In addition, certain of Newmark’s entities are taxed as U.S. partnerships and are subject to the Unincorporated Business Tax (“UBT”) in New York City. Therefore, the tax liability or benefit related to the partnership income or loss, except for UBT, rests with the partners (see Note 2 — “Limited Partnership Interests”, for discussion of partnership interests), rather than the partnership entity. Income taxes are accounted for using the asset and liability method, as prescribed in U.S. GAAP guidance for Income Taxes . Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the accompanying unaudited condensed consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded against deferred tax assets if it is deemed more likely than not that those assets will not be realized. Pursuant to U.S. GAAP guidance on Accounting for Uncertainty in Income Taxes , Newmark provides for uncertain tax positions based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of September 30, 2021, Newmark had $0.2 million of unrecognized tax benefits which, if recognized, would affect the effective tax rate. As of December 31, 2020, Newmark's unrecognized tax benefits, excluding related interest and penalties, were $0.2 million, all of which, if recognized, would affect the effective tax rate. Newmark recognized interest and penalties related to income tax matters in “Provision for income taxes” on the accompanying unaudited condensed consolidated statements of operations. As of September 30, 2021, Newmark has not accrued any tax-related interest and penalties.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	Accounts Payable, Accrued Expenses and Other Liabilities The accounts payable, accrued expenses and other liabilities consisted of the following (in thousands): September 30, 2021 December 31, 2020 Accounts payable and accrued expenses $ 214,080 $ 97,304 Redeemable preferred partnership units — — Outside broker payable 60,730 53,504 Payroll taxes payable 100,689 60,696 Corporate taxes payable 104,663 25,666 Derivative liability 12,814 17,948 Right-of-use liabilities 81,195 29,468 Credit enhancement deposit — 25,000 Contingent consideration 5,795 16,962 Total $ 579,966 $ 326,548 Other long-term liabilities consisted of the following (in thousands): September 30, 2021 December 31, 2020 Accrued compensation $ 90,597 $ 331,288 Payroll and other taxes payable 74,704 61,564 Financial guarantee liability 24,355 29,581 Deferred rent 18,729 — Contingent consideration 10,131 14,519 Total $ 218,516 $ 436,952

Compensation

Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Compensation	CompensationNewmark’s Compensation Committee may grant various equity-based awards to employees of Newmark, including RSUs, restricted stock, limited partnership units and shares of Newmark Class A common stock upon exchange or redemption of Newmark limited partnership units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings”). On December 13, 2017, as part of the Separation, the Newmark Group, Inc. Long Term Incentive Plan (the “Newmark Equity Plan”) was approved by Newmark’s then sole stockholder, BGC, for Newmark to issue up to 400.0 million shares of Newmark Class A common stock, of which 65.0 million are registered, that may be delivered or cash-settled pursuant to awards granted during the life of the Newmark Equity Plan. As of September 30, 2021, awards with respect to 74.0 million shares have been granted and 326.0 million shares are available for future awards. Upon vesting of RSUs, issuance of restricted stock and exchange or redemption of limited partnership units, Newmark generally issues new shares of its Class A common stock. Prior to the Separation, BGC’s Compensation Committee granted various equity-based awards to employees of Newmark, including RSUs, restricted stock, limited partnership units and exchange rights for shares of BGC Class A common stock upon exchange of BGC Holdings limited partnership units (see Note 2 — “Limited Partnership interests in Newmark Holdings and BGC Holdings”). As a result of the Separation, limited partnership interests in Newmark Holdings were distributed to the holders of limited partnership interests in BGC Holdings. Each holder of BGC Holdings limited partnership interests at that time held a BGC Holdings limited partnership interest and 0.4545 of a corresponding Newmark Holdings limited partnership interest. The exchange ratio is the number of shares of Newmark common stock that a holder will receive upon exchange of one Newmark Holdings exchangeable unit (the exchange ratio was initially one, but is subject to adjustment as set forth in the Separation and Distribution Agreement and was 0.9339 as of September 30, 2021). Newmark incurred compensation expense related to Class A common stock, limited partnership units and RSUs held by Newmark employees as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Issuance of common stock and exchangeability expenses $ 14,414 $ 13,243 $ 298,202 $ 21,668 Allocations of net income to limited partnership units and FPUs (1) 13,166 29,221 38,092 30,753 Limited partnership units amortization 2,323 4,901 (32,056) 12,808 RSU amortization 4,059 3,404 11,505 9,315 Equity-based compensation and allocations of net income to limited partnership units and FPUs $ 33,962 $ 50,769 $ 315,743 $ 74,544 (1) Certain limited partnership units receive quarterly allocations of net income and are generally contingent upon services being provided by the unit holders, including the Preferred Distribution. (a) Limited Partnership Units A summary of the activity associated with limited partnership units held by Newmark employees is as follows: Newmark Units BGC Units Balance, January 1, 2020 60,800,852 (1) 56,053,701 Issued 12,569,298 1,071,612 Redeemed/exchanged units (6,660,984) (2,657,901) Forfeited units/other (82,981) (45,410) Balance, December 31, 2020 66,626,185 54,422,002 Issued 7,391,727 159,057 Redeemed/exchanged units (55,677,163) (44,363,649) Forfeited units/other (197,739) (882,111) September 30, 2021 18,143,010 9,335,299 Total exchangeable units outstanding (2) : December 31, 2020 9,906,763 24,863,107 September 30, 2021 2,511,283 1,313,439 (1) Includes the pre-IPO Newmark employees share-equivalent limited partnership units in BGC Holdings. (2) The Limited Partnership table above also includes partnership units issued for consideration for acquisitions. As of September 30, 2021, there were 4.5 million partnership units in Newmark Holdings outstanding, of which 1.6 million units were exchangeable, and 7.7 million partnership units in BGC Holdings outstanding, of which 3.4 million were exchangeable. As of December 31, 2020, there were 5.3 million partnership units in Newmark Holdings outstanding, of which 2.0 million units were exchangeable, and 9.1 million partnership units in BGC Holdings outstanding, of which 4.5 million were exchangeable. The Limited Partnership Units table above includes both regular and Preferred Units. The Preferred Units are not entitled to participate in partnership distributions other than with respect to the Preferred Distribution (see Note 2 — “Limited Partnership Interests in BGC Holdings and Newmark Holdings” for further information on Preferred Units). Subsequent to the Spin-Off, there are remaining partners who hold limited partnership interests in Newmark Holdings who are BGC employees, and there are remaining partners who hold limited partnership interests in BGC Holdings who are Newmark employees. These limited partnership interests represent interests that were held prior to the Newmark IPO or were distributed in connection with the Separation. Following the Newmark IPO, employees of Newmark and BGC received limited partnership interests in Newmark Holdings and BGC Holdings, respectively. As a result of the Spin-Off, as the existing limited partnership interests in Newmark Holdings held by BGC employees and the existing limited partnership interests in BGC Holdings held by Newmark employees are exchanged/redeemed, the related capital can be contributed to and from Cantor, respectively. The compensation expenses under GAAP related to the limited partnership interests are based on the company where the partner is employed. Therefore, compensation expenses related to the limited partnership interests of both Newmark and BGC but held by a Newmark employee are recognized by Newmark. However, the Newmark Holdings limited partnership interests held by BGC employees are included in the Newmark share count and the BGC Holdings limited partnership interests held by Newmark employees are included in the BGC share count. A summary of the BGC Holdings and Newmark Holdings limited partnership units held by Newmark employees is as follows: Newmark BGC Regular units 16,590,171 9,178,951 Preferred Units 1,552,839 156,348 Balance, September 30, 2021 18,143,010 9,335,299 A summary of units held by Newmark employees redeemed in connection with the issuance of Newmark or BGC Class A common stock (at the current exchange ratio) or granted exchangeability for Newmark or BGC Class A common stock is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 BGC Units 2,324,626 34,893 13,960,614 225,725 Newmark Units 305,636 25,419 32,392,989 194,072 Total 2,630,262 60,312 46,353,603 419,797 Compensation expense related to the issuance of Newmark or BGC Class A common stock and grants of exchangeability on Newmark Holdings and BGC Holdings limited partnership units to Newmark employees is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Issuance of common stock and exchangeability expenses $ 14,321 $ 125 $ 302,764 $ 2,606 Limited partnership units with a post-termination payout held by Newmark employees are as follows (dollars in thousands): September 30, 2021 December 31, 2020 Notional Value (1) $ 108,087 $ 257,771 Estimated fair value of the post-termination payout (2) $ 35,181 $ 68,682 Outstanding limited partnership units in BGC Holdings 105,969 4,873,040 Outstanding limited partnership units in BGC Holdings - unvested — 873,822 Outstanding limited partnership units in Newmark Holdings 11,059,337 20,184,716 Outstanding limited partnership units in Newmark Holdings - unvested 6,073,713 9,778,078 (1) Beginning January 1, 2018, Newmark began granting stand-alone limited partnership units in Newmark Holdings to Newmark employees. (2) Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets. Liability balance also includes $6.8 million of post-termination units issued as consideration for acquisition. Compensation expense related to limited partnership units held by Newmark employees with a post-termination pay-out amount is recognized over the stated service period. These units generally vest between three Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Limited partnership units amortization $ 2,323 $ 4,901 $ (32,056) $ 12,808 During the three and nine months ended September 30, 2021, Newmark did not grant any conversion rights to Newmark employees on outstanding limited partnership units in BGC Holdings or Newmark Holdings. During the three and nine months ended September 30, 2020, Newmark did not grant any conversion rights to Newmark employees on outstanding limited partnership units in BGC Holdings or Newmark Holdings. Granting conversion rights gives the employee the option to convert the limited units to HDUs with a capital balance within BGC Holdings or Newmark Holdings. Generally, HDUs are not considered share-equivalent limited partnership units and are not in the fully diluted share count. The grant of conversion rights to Newmark employees are as follows (in thousands): September 30, 2021 December 31, 2020 Notional Value $ 12,836 $ 218,520 Estimated fair value of limited partnership units (1) $ 12,558 $ 208,029 (1) Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets. Compensation expense related to these limited partnership units held by Newmark employees was as follows (in thousands:): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Issuance of common stock and exchangeability expenses $ 93 $ 13,118 $ (4,562) $ 19,062 During the three and nine months ended September 30, 2021, Newmark employees were granted 0.8 million and 2.9 million N Units, respectively, that are excluded from the table above, since these units are not considered share-equivalent limited partnership units and are not included in the fully diluted share count. The N Units do not receive quarterly allocations of net income and remain unvested. Upon vesting, which occurs if the certain thresholds are met, the N Units are converted to equivalent limited partnership units that receive quarterly certain income distributions and can be granted exchange rights or redeemed at a later date, at which time these N Units would be reflected as a share-equivalent grant in the tables above. During the three and nine months ended September 30, 2021, 4.0 million and 5.3 million N Units, respectively, vested and were converted into distribution earning limited partnership units and were therefore included in the fully diluted share count. (b) Restricted Stock Units A summary of the activity associated with Newmark and BGC RSUs held by Newmark employees is as follows (fair value amount in thousands): Newmark RSUs (1) BGC RSUs (2) Restricted Weighted- Fair Weighted- Restricted Weighted- Fair Weighted- Balance, January 1, 2020 4,683,571 $ 7.55 $ 35,361 5.69 46,807 $ 9.97 $ 467 0.25 Granted 7,337,460 7.96 58,415 7,912 3.69 29 Settled units (delivered shares) (1,151,507) 8.29 (9,549) (45,544) 9.95 (453) Forfeited units (222,727) 7.78 (1,733) (1,162) 10.64 (12) Balance, December 31, 2020 10,646,797 $ 7.75 $ 82,494 5.69 8,013 $ 3.80 $ 31 2.17 Granted 2,390,382 9.07 21,682 — — — Settled units (delivered shares) (1,821,395) 7.50 (13,656) (2,638) 3.69 (9) Forfeited units (438,302) 6.72 (2,945) — — — Balance, September 30, 2021 10,777,482 $ 8.13 $ 87,575 5.24 5,375 $ 3.85 $ 22 1.41 (1) Beginning January 1, 2018, Newmark began granting stand-alone Newmark RSUs to Newmark employees with the awards vesting ratably over the two (2) RSUs granted to these individuals generally vest over a two The fair value of Newmark and BGC RSUs held by Newmark employees is determined on the date of grant based on the market value (adjusted if appropriate based upon the award’s eligibility to receive dividends), and is recognized, net of the effect of estimated forfeitures, ratably over the vesting period. Newmark uses historical data, including historical forfeitures and turnover rates, to estimate expected forfeiture rates for RSUs. Each RSU is settled for one share of BGC or Newmark Class A common stock, as applicable, upon completion of the vesting period. Compensation expense related to Newmark and BGC RSUs are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RSU amortization $ 4,059 $ 3,404 $ 11,505 $ 9,315 As of September 30, 2021, there was $85.8 million total unrecognized compensation expense related to unvested Newmark RSUs. See Note 27 — "Related Party Transactions" for compensation related matters for the transfer of CCRE employees to Newmark.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Contractual Obligations and Commitments As of September 30, 2021 and December 31, 2020, Newmark was committed to fund approximately $0.5 billion and $0.4 billion, respectively, which is the total remaining draws on construction loans originated by Newmark under the HUD 221(d) 4, 220 and 232 programs, rate locked loans that have not been funded, forward commitments, as well as the funding for Fannie Mae structured transactions. Newmark also has corresponding commitments to sell these loans to various investors as they are funded. (b) Contingent Payments Related to Acquisitions Newmark completed acquisitions from 2015 through 2020 with contingent cash consideration of $15.6 million. The contingent equity instruments and cash liability is recorded at fair value in “Accounts payable, accrued expenses and other liabilities” on Newmark’s unaudited condensed consolidated balance sheets. (c) Contingencies In the ordinary course of business, various legal actions are brought and are pending against Newmark and its subsidiaries in the U.S. and internationally. In some of these actions, substantial amounts are claimed. Newmark is also involved, from time to time, in reviews, examinations, investigations and proceedings by governmental and self-regulatory agencies (both formal and informal) regarding Newmark’s businesses, which may result in regulatory, civil and criminal judgments, settlements, fines, penalties, injunctions or other relief. The following generally does not include matters that Newmark has pending against other parties which, if successful, would result in awards in favor of Newmark or its subsidiaries. Employment, Competitor-Related and Other Litigation From time to time, Newmark and its subsidiaries are involved in litigation, claims and arbitration in the U.S. and internationally, relating to various employment matters, including with respect to termination of employment, hiring of employees currently or previously employed by competitors, terms and conditions of employment and other matters. In light of the competitive nature of the real estate services industry, litigation, claims and arbitration between competitors regarding employee hiring are not uncommon. Legal reserves are established in accordance with U.S. GAAP guidance on Accounting for Contingencies, when a material legal liability is both probable and reasonably estimable. Once established, reserves are adjusted when there is more information available or when an event occurs requiring a change. The outcome of such items cannot be determined with certainty. Newmark is unable to estimate a possible loss or range of loss in connection with specific matters beyond its current accrual and any other amounts disclosed. Management believes that, based on currently available information, the final outcome of these current pending matters will not have a material adverse effect on Newmark’s consolidated financial statements and disclosures taken as a whole. Risks and Uncertainties Newmark generates revenues by providing financial intermediary and brokerage activities and commercial real estate services to institutional customers. Revenues for these services are transaction-based. As a result, revenues could vary based on the transaction volume of global financial and real estate markets. Additionally, financing is sensitive to interest rate fluctuations, which could have an impact on Newmark’s overall profitability.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn November 4, 2021, Newmark declared a qualified quarterly dividend of $0.01 per share payable on December 10, 2021 to Class A and Class B common stockholders of record as of November 19, 2021. The ex-dividend date will be November 18, 2021.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission and in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”). For the year ended December 31, 2019, Newmark changed the line item formerly known as “Allocations of net income and grant of exchangeability to limited partnership units and FPUs and issuance of common stock” to “Equity-based compensation and allocations of net income to limited partnership units and FPUs” on the accompanying unaudited condensed consolidated statements of operations and statements of cash flow. The change resulted in the reclassification of amortization charges related to equity-based awards, such as REUs and Restricted Stock Units (“RSUs”), from “Compensation and employee benefits” to “Equity-based compensation and allocations of net income to limited partnership units and FPUs.” “Equity-based compensation and allocations of net income to limited partnership units and FPUs” reflect the following items related to cash and equity-based compensation: • Charges with respect to the grant of shares of common stock or limited partnership units, such as HDUs, including in connection with the redemption of non-exchangeable limited partnership units, including PSUs; • Charges with respect to grants of exchangeability, such as the right of holders of limited partnership units with no capital accounts, such as PSUs, to exchange the units into shares of common stock, or HDUs, as well as the cash paid in the settlement of the related exchangeable preferred units to pay withholding taxes owed by the unit holder upon such exchange; • Preferred units are granted in connection with the grant of certain limited partnership units, such as PSUs, that may be granted exchangeability to cover the withholding taxes owed by the unit holder, rather than issuing the gross amount of shares to employees, subject to cashless withholding of shares to pay applicable withholding taxes; • Charges related to the amortization of RSUs and REUs; and • Allocations of net income to limited partnership units and founding/working partner units (“FPUs”), including the Preferred Distribution (as hereinafter defined). Intercompany balances and transactions within Newmark have been eliminated. Transactions between Cantor Fitzgerald, L.P. ("Cantor") and Newmark pursuant to service agreements with Cantor (see Note 27 — “Related Party Transactions”), representing valid receivables and liabilities of Newmark which are periodically cash settled, have been included on the accompanying unaudited condensed consolidated financial statements as either receivables from or payables to related parties. Newmark receives administrative services to support its operations, and in return, Cantor allocates certain of its expenses to Newmark. Such expenses represent costs related, but not limited to, treasury, legal, accounting, information technology, payroll administration, human resources, incentive compensation plans and other services. These costs, together with an allocation of Cantor's overhead costs, are included as expenses on the accompanying unaudited condensed consolidated statements of operations. Where it is possible to specifically attribute such expenses to activities of Newmark, these amounts have been expensed directly to Newmark. Allocation of all other such expenses is based on a services agreement between Cantor which reflects the utilization of service provided or benefits received by Newmark during the periods presented on a consistent basis, such as headcount, square footage, revenue, etc. Management believes the assumptions underlying the stand-alone financial statements, including the assumptions regarding allocated expenses, reasonably reflect the utilization of services provided to or the benefit received by Newmark during the periods presented. However, these shared expenses may not represent the amounts that would have been incurred had Newmark operated independently from Cantor. Actual costs that would have been incurred if Newmark had performed the services itself would depend on multiple factors, including organizational structure and strategic decisions in various areas, including information technology and infrastructure (see Note 27 — “Related Party Transactions” for an additional discussion of expense allocations). Transfers of cash, both to and from Cantor, are included in “Receivables from related parties or Payables to related parties” on the accompanying unaudited condensed consolidated balance sheets and as part of the change in payments to and borrowings from related parties in the financing section prior to the Spin-Off and in the operating section after the Spin-Off on the accompanying unaudited condensed consolidated statements of cash flows. The income tax provision on the accompanying unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income has been calculated as if Newmark had been operating on a stand-alone basis and filed separate tax returns in the jurisdictions in which it operates. Prior to the Spin-Off, Newmark’s operations had been included in the BGC U.S. federal and state tax returns or separate non-U.S. jurisdictions tax returns. As Newmark operations in many jurisdictions were unincorporated commercial units of BGC and its subsidiaries, stand-alone tax returns have not been filed for the operations in these jurisdictions.
Recently Adopted Accounting Pronouncements & New Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments, which requires financial assets that are measured at amortized cost to be presented, net of an allowance for credit losses, at the amount expected to be collected over their estimated life. Expected credit losses for newly recognized financial assets, as well as changes to credit losses during the period, are recognized in earnings. For certain purchased financial assets with deterioration in credit quality since origination (“PCD assets”), the initial allowance for expected credit losses will be recorded as an increase to the purchase price. Expected credit losses, including losses on off-balance-sheet exposures, such as lending commitments, will be measured based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses , to clarify that operating lease receivables accounted for under ASC 842, Leases , are not in the scope of the new credit losses guidance, and, instead, impairment of receivables arising from operating leases should be accounted for in accordance with ASC 842, Leases . In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The ASU makes changes to the guidance introduced or amended by ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments . See below for the description of the amendments stipulated in ASU No. 2019-04. In addition, in May 2019, the FASB issued ASU No. 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief . The amendments in this ASU allow entities, upon adoption of ASU No. 2016-13, to irrevocably elect the fair value option for financial instruments that were previously carried at amortized cost and are eligible for the fair value option under ASC 825-10, Financial Instruments: Overall. In November 2019, the FASB issued ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses . The amendments in this ASU require entities to include certain expected recoveries of the amortized cost basis previously written off, or expected to be written off, in the allowance for credit losses for PCD assets; provide transition relief related to troubled debt restructurings; allow entities to exclude accrued interest amounts from certain required disclosures; and clarify the requirements for applying the collateral maintenance practical expedient. The amendments in ASUs No. 2018-19, 2019-04, 2019-05 and 2019-11 are required to be adopted concurrently with the guidance in ASU No. 2016-13. Newmark adopted the standards on their required effective date beginning January 1, 2020. The primary effect of adoption, on a pre-tax basis, resulted in a decrease in assets of $8.0 million, an increase in liabilities of $17.9 million and a decrease in retained earnings of $25.9 million, respectively. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new ASU, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Newmark adopted the standard on its required effective date beginning January 1, 2020, and the guidance was applied on a prospective basis starting with the goodwill impairment test during the year ended December 31, 2020. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The guidance intends to better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. To meet that objective, the amendments expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. In October 2018, the FASB issued ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes . Based on concerns about the sustainability of LIBOR, in 2017, a committee convened by the Federal Reserve Board and the Federal Reserve Bank of New York identified a broad Treasury repurchase agreement (repo) financing rate referred to as the SOFR as its preferred alternative reference rate. The guidance in ASU No. 2018-16 adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the LIBOR to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The amendments in this ASU were required to be adopted concurrently with the guidance in ASU No. 2017-12. The guidance became effective beginning January 1, 2019 and was required to be applied on a prospective and modified retrospective basis. As Newmark currently does not designate any derivative contracts as hedges for accounting purposes, the adoption of this new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The guidance helps organizations address certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act by providing an option to reclassify these stranded tax effects to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The standard became effective for Newmark on January 1, 2019. The guidance was required to be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting . The guidance largely aligns the accounting for share-based payment awards issued to employees and nonemployees, whereby the existing employee guidance will apply to nonemployee share-based transactions (as long as the transaction is not effectively a form of financing), with the exception of specific guidance related to the attribution of compensation cost. The cost of nonemployee awards will continue to be recorded as if the grantor had paid cash for the goods or services. In addition, the contractual term will be able to be used in lieu of an expected term in the option-pricing model for nonemployee awards. The standard became effective for Newmark on January 1, 2019. The ASU was required to be applied on a prospective basis to all new awards granted after the date of adoption. In addition, any liability-classified awards that were not settled and equity-classified awards for which a measurement date had not been established by the adoption date were remeasured at fair value as of the adoption date with a cumulative effect adjustment to opening retained earnings in the year of adoption. Newmark adopted this standard on its effective date. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The guidance is part of the FASB’s disclosure framework project, whose objective and primary focus are to improve the effectiveness of disclosures in the notes to financial statements. The ASU eliminates, amends and adds certain disclosure requirements for fair value measurements. The FASB concluded that these changes improve the overall usefulness of the footnote disclosures for financial statement users and reduce costs for preparers. Certain disclosures are required to be applied prospectively and other disclosures need to be adopted retrospectively in the period of adoption. As permitted by the transition guidance in the ASU, Newmark early adopted eliminated and modified disclosure requirements as of September 30, 2018. The early adoption of this standard did not have an impact on the accompanying unaudited condensed consolidated financial statements. The additional disclosure requirements were adopted by Newmark beginning January 1, 2020, and the adoption of these fair value measurement disclosures did not have an impact on Newmark’s accompanying unaudited condensed consolidated financial statements. See Note 26 — “Fair Value of Financial Assets and Liabilities” for additional information. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) . The guidance on the accounting for implementation, setup, and other upfront costs (collectively referred to as implementation costs) applies to entities that are a customer in a hosting arrangement that is a service contract. The amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the guidance in this ASU. The new standard became effective beginning January 1, 2020. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities . The guidance was issued in response to stakeholders’ observations that Topic 810, Consolidation , could be improved in the areas of applying the variable interest entity guidance to private companies under common control and in considering indirect interests held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interests. The new standard became effective beginning January 1, 2020, with early adoption permitted, and must be applied retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. Newmark adopted the standard on its effective date beginning January 1, 2020. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The ASU amends guidance introduced or amended by ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments , ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , and ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The amendments to ASU No. 2016-13 clarify the scope of the credit losses standard and address guidance related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other issues. With respect to amendments to ASU No. 2017-12, the guidance addresses partial-term fair value hedges, fair value hedge basis adjustments, and certain transition requirements, along with other issues. The clarifying guidance pertaining to ASU No. 2016-01 requires an entity to remeasure an equity security without a readily determinable fair value accounted for under the measurement alternative at fair value in accordance with guidance in ASC 820, Fair Value Measurement ; specifies that equity securities without a readily determinable fair value denominated in nonfunctional currency must be remeasured at historical exchange rates; and provides fair value measurement disclosure guidance. Newmark adopted this standard on the required effective date beginning January 1, 2020. The adoption of the hedge accounting and the recognition and measurement guidance amendments did not have a material impact on the accompanying unaudited condensed consolidated financial statements. See above for the impact of adoption of the amendments related to the credit losses standard. In July 2019, the FASB issued ASU No. 2019-07, Codification Updates to SEC Sections-Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization, and Miscellaneous Updates . The guidance clarifies or improves the disclosure and presentation requirements of a variety of codification topics by aligning them with already effective SEC final rules, thereby eliminating redundancies and making the codification easier to apply. This ASU was effective upon issuance and did not have a material impact on the accompanying unaudited condensed consolidated financial statements and related disclosures. In November 2019, the FASB issued ASU No. 2019-08, Compensation-Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements-Share-Based Consideration Payable to a Customer . The ASU simplifies and increases comparability of accounting for nonemployee share-based payments, specifically those made to customers. Under the new guidance, such awards will be accounted for as a reduction of the transaction price in revenue, but should be measured and classified following the stock compensation guidance in ASC 718, Compensation-Stock Compensation . Newmark adopted standard on the required effective date beginning January 1, 2020. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments . This ASU makes narrow-scope amendments related to various aspects pertaining to financial instruments and related disclosures by clarifying or improving the Codification. For the most part, the guidance was effective upon issuance, and the adoption of the standard did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The ASU is part of the FASB’s simplification initiative, and it is expected to reduce cost and complexity related to accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740, Income Taxes related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. Newmark adopted the standard on the required effective date beginning January 1, 2021 and, with certain exceptions, it was applied prospectively. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the FASB Emerging Issues Task Force). These amendments improve previous guidance by reducing diversity in practice and increasing comparability of the accounting for the interactions between these codification topics as they pertain to certain equity securities, investments under the equity method of accounting and forward contracts or purchased options to purchase securities that, upon settlement of the forward contract or exercise of the purchased option, would be accounted for under the equity method of accounting or the fair value option. Newmark adopted the standard on the required effective date beginning January 1, 2021 on a prospective basis. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements. The standard amends the Codification by moving existing disclosure requirements to (or adding appropriate references in) the relevant disclosure sections. The ASU also clarifies various provisions of the Codification by amending and adding new headings, cross-referencing, and refining or correcting terminology. Newmark adopted the standard on the required effective date beginning January 1, 2021 and was applied using a modified retrospective method of transition. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. (c) New Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The guidance is designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements (e.g., loans, debt securities, derivatives, and borrowings) necessitated by reference rate reform as entities transition away from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. This ASU also provides optional expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by reference rate reform. Application of the guidance is optional and only available in certain situations. The ASU is effective upon issuance and generally can be applied through December 31, 2022. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848) : Scope. The amendments in this standard are elective and principally apply to entities that have derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform (referred to as the “discounting transition”). The standard expands the scope of ASC 848, Reference Rate Reform and allows entities to elect optional expedients to derivative contracts impacted by the discounting transition. Similar to ASU No. 2020-04, provisions of this ASU are effective upon issuance and generally can be applied through December 31, 2022. Management is evaluating and planning for adoption of the new guidance, including forming a cross-functional LIBOR transition team to determine Newmark’s transition plan and facilitate an orderly transition to alternative reference rates, and continuing its assessment on the accompanying unaudited condensed consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . The standard is expected to reduce complexity and improve comparability of financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity. The ASU also enhances information transparency by making targeted improvements to the related disclosures guidance. Additionally, the amendments affect the diluted EPS calculation for instruments that may be settled in cash or shares and for convertible instruments. The new standard will become effective for Newmark beginning January 1, 2022, can be applied using either a modified retrospective or a fully retrospective method of transition, and early adoption is permitted. Management is currently evaluating the impact of the new guidance on the accompanying unaudited condensed consolidated financial statements.
Segment	Segment:Newmark has a single operating segment. Newmark is a real estate services firm offering services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management. The chief operating decision-maker regardless of geographic location evaluates the operating results of Newmark as total real estate services and allocates resources accordingly.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Revenue by Segment	Newmark recognized revenues as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Leasing and other commissions $ 231,533 $ 114,947 $ 563,311 $ 375,465 Capital markets commissions 252,095 82,956 558,254 263,838 Gains from mortgage banking activities/origination, net 60,029 91,192 148,683 210,686 Management services, servicing fees and other 244,469 146,829 651,729 453,583 Revenues $ 788,126 $ 435,924 $ 1,921,977 $ 1,303,572

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Summary of components of purchase consideration transferred and preliminary allocation of assets acquired and liabilities assumed	For the nine months ended September 30, 2021, the following table summarizes the components of the purchase consideration transferred, and the preliminary allocation of the assets acquired, and liabilities assumed, for the acquisition. Newmark expects to finalize its analysis of the assets acquired and liabilities assumed within the first year of the acquisition, and therefore adjustments to assets and liabilities may occur (in thousands): As of the Purchase Price First and second lien debt $ 39,584 Debtor-in-possession financing 19,788 Assumed liability 7,868 Cash 28,494 Total $ 95,734 Allocations Cash $ 21,642 Goodwill 90,844 Other intangible assets, net 34,290 Receivables, net 6,894 Fixed Assets, net 40,605 Other assets 62,708 Right-of-use Assets 457,674 Right-of-use Liabilities (454,606) Accrued Compensation (2,076) Accounts payable, accrued expenses and other liabilities (107,122) Unrealized gain on investment (27,825) Initial investment (recorded at cost) (13,832) Non-controlling interest (13,463) Total $ 95,733 As of the Purchase Price Cash, stock and units issued at closing $ 6,249 Contingent consideration 3,590 Total $ 9,839 Allocations Goodwill $ 6,294 Other intangible assets, net 2,700 Receivables, net 796 Fixed Assets, net 134 Other assets 29 Accounts payable, accrued expenses and other liabilities (114) Total $ 9,839

Earnings Per Share and Weight_2

Earnings Per Share and Weighted-Average Shares Outstanding (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Basic Earnings Per Share	The following is the calculation of Newmark’s basic EPS (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Basic earnings per share: Net income available to common stockholders (1) $ 128,549 $ 72,101 $ 595,198 $ 75,703 Basic weighted-average shares of common stock outstanding 199,413 179,501 189,317 178,527 Basic earnings per share $ 0.64 $ 0.40 $ 3.14 $ 0.42 (1) Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 30, 2021, respectively, and $3.2 million and $8.1 million for the three and nine months ended September 30, 2020, respectively. (see Note 1 — “Organization and Basis of Presentation”).
Schedule of Fully Diluted Earnings Per Share	The following is the calculation of Newmark’s fully diluted EPS (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Fully diluted earnings per share: Net income available to common stockholders $ 128,549 $ 72,101 $ 595,198 $ 75,703 Allocations of net income to limited partnership interests in Newmark Holdings, net of tax — 31,522 — 34,719 Net income for fully diluted shares $ 128,549 $ 103,623 $ 595,198 $ 110,422 Weighted-average shares: Common stock outstanding 199,413 179,501 189,317 178,527 Cantor units — — — — Partnership units (1) — 86,912 — 86,093 RSUs (Treasury stock method) 4,696 155 3,816 254 Newmark exchange shares 1,172 225 1,187 230 Fully diluted weighted-average shares of common stock outstanding 205,281 266,793 194,320 265,104 Fully diluted earnings per share $ 0.63 $ 0.39 $ 3.06 $ 0.42 (1) Partnership units collectively include FPUs, limited partnership units, and Cantor and BGC units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information).

Stock Transactions and Unit R_2

Stock Transactions and Unit Redemptions (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Changes in Common Stock Outstanding	Changes in shares of Newmark’s Class A common stock outstanding were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Shares outstanding at beginning of period 179,736,458 157,811,436 161,175,894 156,265,461 Share issuances: LPU redemption/exchange (1) 968,762 607,971 3,960,927 1,617,690 Issuance of Class A common stock for Newmark RSUs 254,735 210,718 1,498,343 746,974 Other (2) (244,815) — 18,572,317 — Treasury stock repurchases (6,307,802) — (10,800,143) — Shares outstanding at end of period 174,407,338 158,630,125 174,407,338 158,630,125 (1) Because they were included in the Newmark’s fully diluted share count, if dilutive, any exchange of LPUs into Class A common stock would not impact the fully diluted number of shares and units outstanding. (2) For information, refer to the section titled " 2021 Equity Event and Share Count Reduction" in Note 1 "Organization and Basis of Presentation"
Schedule of Share Repurchase Activity	The following table details Newmark's unit redemptions and share repurchases for cash, under the new program, and does not include unit redemptions and/or cancellations in connection with the grant of shares Newmark's Class A common stock. The gross unit redemptions and share repurchases of Newmark's Class A common stock during the nine months ended September 30, 2021 were as follows (in thousands except units, shares and per share amounts): Total Average Approximate Redemptions January 1, 2021 - March 31, 2021 — $ — April 1, 2021 - June 30, 2021 167,894 $ 11.91 July 1, 2021 - September 30, 2021 — $ — Total Redemptions 167,894 $ 11.91 Repurchases January 1, 2021 - March 31, 2021 879,243 $ 10.58 April 1, 2021 - June 30, 2021 3,613,098 $ 12.81 July 1, 2021 - July 31, 2021 52,527 $ 13.05 August 1, 2021 - August 31, 2021 2,777,350 $ 13.17 September 1, 2021 - September 30, 2021 3,477,925 $ 13.67 Total Repurchases 10,800,143 $ 13.00 Total Redemptions and Repurchases 10,968,037 $ 12.98 $ 315,879
Schedule of Changes in Carrying Amount of Redeemable Partnership Interest	The changes in the carrying amount of FPUs follow (in thousands): September 30, 2021 December 31, 2020 Balance at beginning of period: $ 20,045 $ 21,517 Income allocation 4,826 1,740 Distributions of income (1,215) (1,740) Redemptions (642) (1,472) Issuance and other (124) — Balance at end of period $ 22,890 $ 20,045

Loans Held for Sale, at Fair _2

Loans Held for Sale, at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2021
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance [Abstract]
Summary of Loans Held for Sale	Loans held for sale had a cost basis and fair value as follows (in thousands): September 30, 2021 December 31, 2020 Cost Basis $ 1,184,382 $ 1,062,511 Fair Value 1,200,192 1,086,805 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest income on loans held for sale $ 5,392 $ 6,806 $ 13,326 $ 18,862 Gains (loss) recognized on change in fair value on loans held for sale 9,989 1,978 15,810 27,136

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Contracts	The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands): September 30, 2021 December 31, 2020 Derivative contract Assets Liabilities Notional Amounts (1) Assets Liabilities Notional Amounts (1) Rate lock commitments $ 14,081 $ 3,928 $ 387,914 $ 21,034 $ 2,977 $ 296,972 Nasdaq Forwards — — — 12,822 — 174,000 Forward sale contracts 15,486 8,886 1,572,296 7,632 14,971 1,359,482 Total $ 29,567 $ 12,814 $ 1,960,210 $ 41,488 $ 17,948 $ 1,830,454
Summary of Gain (Loss) on Change in Fair Value of Derivatives Included in Condensed Consolidated Statements of Operations	Gains and losses on derivative contracts, which are included on the accompanying unaudited condensed consolidated statements of operations were as follows (in thousands): Location of gain (loss) recognized in income for derivatives Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Derivatives not designed as hedging instruments: Nasdaq Forwards Other income (loss), net $ 221 $ (5,771) $ (12,183) $ (7,543) Rate lock commitments Gains (loss) from mortgage banking activities/originations, net (8,001) (3,951) 11,842 46,004 Rate lock commitments Compensation and employee benefits 488 (677) (1,689) (1,576) Forward sale contracts Gains (loss) from mortgage banking activities/originations, net 13,904 16,187 6,600 (32,105) Total $ 6,612 $ 5,788 $ 4,570 $ 4,780

Credit Enhancement Receivable_2

Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability (Tables)	9 Months Ended
	Sep. 30, 2021
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit [Abstract]
Summary of Credit Enhancement Receivable	Newmark's servicing portfolio consisted of the following loss-sharing components (in thousands): September 30, 2021 December 31, 2020 Total credit risk loan portfolio $ 25,461,276 $ 24,048,754 Maximum DB Cayman credit protection — 18,689 Maximum pre-credit enhancement loss exposure $ 7,642,218 $ 7,172,509 Maximum DB Cayman credit protection — 6,230 Maximum loss exposure without any form of credit protection $ 7,642,218 $ 7,166,279

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenues from Contracts with Customers and Our Other Sources of Revenues	The following table presents Newmark’s total revenues separately for its revenues from contracts with customers and other sources of revenues (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues from contracts with customers: Leasing and other commissions $ 231,533 $ 114,947 $ 563,311 $ 375,465 Capital markets commissions 252,095 82,956 558,254 263,838 Management services 198,537 107,439 524,518 338,106 Total 682,165 305,342 1,646,083 977,409 Other sources of revenue (1) : Gains from mortgage banking activities/originations, net 60,029 91,192 148,683 210,686 Servicing fees and other 45,932 39,390 127,211 115,477 Total $ 788,126 $ 435,924 $ 1,921,977 $ 1,303,572 (1) Although these items have customers under contract, they were recorded as other sources of revenue as they were excluded from the scope of ASU No. 2014-9.

Gains from Mortgage Banking A_2

Gains from Mortgage Banking Activities/Originations, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Mortgage Banking [Abstract]
Summary of Gains from Mortgage Banking Activities, Net	Gains from mortgage banking activities/originations, net consists of the following activity (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Fair value of expected net future cash flows from servicing recognized at commitment, net $ 33,642 $ 60,948 $ 88,175 $ 132,423 Loan originations related fees and sales premiums, net 26,387 30,244 60,508 78,263 Total $ 60,029 $ 91,192 $ 148,683 $ 210,686

Mortgage Servicing Rights, Net

Mortgage Servicing Rights, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Transfers and Servicing [Abstract]
Summary of Changes in the Carrying Amount of Mortgage Servicing Rights	The changes in the carrying amount of MSRs were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Mortgage Servicing Rights 2021 2020 2021 2020 Beginning Balance $ 544,725 $ 460,473 $ 528,983 $ 432,666 Additions 28,246 53,006 98,820 126,571 Purchases from an affiliate — — — 200 Amortization (28,760) (24,901) (83,592) (70,859) Ending Balance $ 544,211 $ 488,578 $ 544,211 $ 488,578 Valuation Allowance Beginning Balance $ (18,319) $ (37,241) $ (34,254) $ (19,022) Decrease (increase) 8,031 1,850 23,966 (16,369) Ending Balance $ (10,288) $ (35,391) $ (10,288) $ (35,391) Net Balance $ 533,923 $ 453,187 $ 533,923 $ 453,187
Schedule of Servicing Fees and Escrow Interest	Servicing fees are included in “Management services, servicing fees and other” on the accompanying unaudited condensed consolidated statements of operations and were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Servicing fees $ 35,444 $ 29,432 $ 102,534 $ 84,347 Escrow interest and placement fees 1,117 876 3,168 4,995 Ancillary fees 3,533 2,060 7,352 5,584 Total $ 40,094 $ 32,368 $ 113,054 $ 94,926

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill were as follows (in thousands): Balance, January 1, 2020 $ 557,914 Acquisitions 6,294 Measurement period adjustments (3,876) Balance, December 31, 2020 560,332 Acquisitions 90,844 Measurement period adjustments 519 Balance, September 30, 2021 $ 651,695
Schedule of Components of Other Intangible Assets	Other intangible assets consisted of the following (in thousands, except weighted-average life): September 30, 2021 Gross Accumulated Net Weighted- Indefinite life: Trademark and trade names $ 11,350 $ — $ 11,350 N/A License agreements (GSE) 5,390 — 5,390 N/A Definite life: Trademark and trade names 12,629 (5,509) 7,120 1.8 Non-contractual customers 30,131 (12,248) 17,883 9.6 License agreements 4,981 (4,981) — 0.0 Non-compete agreements 6,557 (3,654) 2,903 3.7 Contractual customers 27,145 (2,931) 24,214 2.6 Other 4,552 (1,587) 2,965 5.5 Total $ 102,735 $ (30,910) $ 71,825 5.0 December 31, 2020 Gross Accumulated Net Weighted- Indefinite life: Trademark and trade names $ 11,350 $ — $ 11,350 N/A License agreements (GSE) 5,390 — 5,390 N/A Definite life: Trademark and trade names 5,704 (4,519) 1,185 0.1 Non-contractual customers 30,131 (9,729) 20,402 7.2 License agreements 4,981 (4,266) 715 0.0 Non-compete agreements 6,557 (2,920) 3,637 0.6 Contractual customers 3,052 (1,584) 1,468 0.4 Other 350 (208) 142 0.0 Total $ 67,515 $ (23,226) $ 44,289 5.5
Summary of Estimated Future Amortization Expense of Definite Life Intangible Assets	The estimated future amortization of definite life intangible assets as of September 30, 2021 was as follows (in thousands): 2021 $ 2,411 2022 9,349 2023 8,989 2024 8,435 2025 7,076 Thereafter 18,825 Total $ 55,085

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of Components of Fixed Assets, Net	Fixed assets, net consisted of the following (in thousands): September 30, 2021 December 31, 2020 Leasehold improvements, furniture and fixtures, and other fixed assets $ 179,294 $ 126,428 Software, including software development costs 32,361 30,928 Computer and communications equipment 27,084 26,168 Total, cost 238,739 183,524 Accumulated depreciation and amortization (105,170) (87,157) Total, net $ 133,569 $ 96,367

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Minimum Lease Payments	Minimum lease payments under these arrangements were as follows (in thousands): September 30, 2021 December 31, 2020 2021 $ 65,475 $ 45,701 2022 117,374 42,072 2023 113,095 40,507 2024 107,259 37,866 2025 101,119 36,520 Thereafter 345,279 126,668 Total lease payments 849,601 329,334 Less: Interest 150,257 81,237 Present value of lease liability $ 699,344 $ 248,097

Other Current Assets and Othe_2

Other Current Assets and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Other Assets [Abstract]
Summary of Other Current Assets	Other current assets consisted of the following (in thousands): September 30, 2021 December 31, 2020 Derivative assets $ 29,567 $ 32,259 Prepaid expenses 44,848 18,900 Other taxes 21,563 9,204 Rent and other deposits 19,121 1,539 Other 129 1,888 Total $ 115,228 $ 63,790
Summary of Non Current Other Assets	Other assets consisted of the following (in thousands): September 30, 2021 December 31, 2020 Deferred tax assets $ 101,060 $ 187,526 Equity method investment 88,308 88,315 Debt securities — 12,754 Non-marketable investments 13,958 9,927 Derivative assets — 9,229 Other 35,085 15,171 Total $ 238,411 $ 322,922

Warehouse Facilities Collater_2

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises (Tables)	9 Months Ended
	Sep. 30, 2021
Brokers and Dealers [Abstract]
Schedule of Company Lines Available and Borrowings Outstanding	Newmark had the following lines available and borrowings outstanding (in thousands): Committed Uncommitted Balance at September 30, 2021 Balance at December 31, 2020 Stated Spread to One-Month LIBOR (3) Rate Type Warehouse facility due October 8, 2022 (1)(2) $ 600,000 $ — $ 414,236 $ 358,247 130 bps - 140 bps Variable Warehouse facility due June 15, 2022 450,000 — 418,944 292,040 130 bps -140 bps Variable Warehouse facility due June 15, 2022 — 300,000 — — 130 bps Variable Warehouse facility due September 25, 2022 400,000 — 315,656 146,380 130 bps - 140 bps Variable Fannie Mae repurchase agreement, open maturity (3) — 400,000 35,493 264,535 115 bps Variable Total $ 1,450,000 $ 700,000 $ 1,184,329 $ 1,061,202 (1) The warehouse line established a $125.0 million sublimit line of credit to fund potential principal and interest servicing advances on the Company's Fannie Mae portfolio during the forbearance period related to the CARES Act. Advances will have an interest rate of 1-month LIBOR plus 180 bps. There were no outstanding under this sublimit as of September 30, 2021. (2) The warehouse line was temporarily increased by $300 million to $900 million for the period December 1, 2020 to February 1, 2021. (3) The spread for the Fannie Mae repurchase line is to SOFR. The warehouse lines are to LIBOR.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Long-Term Debt Payable to Related Parties	Long-term debt consisted of the following (in thousands): September 30, 2021 December 31, 2020 6.125% Senior Notes $ 544,615 $ 542,772 Credit Facility — 137,613 Total $ 544,615 $ 680,385 The carrying amount of the 6.125% Senior Notes was determined as follows (in thousands): September 30, 2021 December 31, 2020 Principal balance $ 550,000 $ 550,000 Less: debt issue cost 2,725 3,688 Less: debt discount 2,660 3,540 Total $ 544,615 $ 542,772 debt discount of the 6.125% Senior Notes, included in “Interest (expense) income, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest expense $ 8,720 $ 8,702 $ 26,146 $ 26,092 Debt issue cost amortization 321 321 963 963 Debt discount amortization 298 275 881 737 Total $ 9,339 $ 9,298 $ 27,990 $ 27,792 Details of the Credit Facility are as follows (in thousands): September 30, 2021 December 31, 2020 Principal balance $ — $ 140,000 Less: Debt issue cost — 2,387 Total $ — $ 137,613 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest expense $ 150 $ 1,805 $ 1,341 $ 5,504 Debt issue cost amortization 275 275 826 737 Unused facility fee 276 63 695 203 Total $ 701 $ 2,143 $ 2,862 $ 6,444

Financial Guarantee Liability (

Financial Guarantee Liability (Tables)	9 Months Ended
	Sep. 30, 2021
Guarantees [Abstract]
Summary of Provisions for Risk Sharing	The provisions for risk-sharing were included in “Operating, administrative and other” on the accompanying unaudited condensed consolidated statements of operations as follows (in thousands): Balance, January 1, 2020 $ 15 Impact of adopting ASC 326 17,935 Provision for expected credit losses 11,631 Balance, December 31, 2020 29,581 Provision for expected credit losses (5,226) Balance, September 30, 2021 $ 24,355

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Fair Value Hierarchy of Financial Assets and Liabilities under U.S. GAAP Guidance	The following table sets forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands): As of September 30, 2021 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 536,154 $ — $ — $ 536,154 Loans held for sale, at fair value — 1,200,192 — 1,200,192 Rate lock commitments — — 14,081 14,081 Nasdaq Forwards — — — — Forward sale contracts — — 15,486 15,486 Total $ 536,154 $ 1,200,192 $ 29,567 $ 1,765,913 Liabilities: Securities Loaned $ 140,000 $ — $ — $ 140,000 Contingent consideration — — 15,926 15,926 Rate lock commitments — — 3,928 3,928 Forward sale contracts — — 8,886 8,886 Total $ 140,000 $ — $ 28,740 $ 168,740 As of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 33,283 $ — $ — $ 33,283 Loans held for sale, at fair value — 1,086,805 — 1,086,805 Debt securities — 12,754 — 12,754 Rate lock commitments — — 21,034 21,034 Nasdaq Forwards — — 12,822 12,822 Forward sale contracts — — 7,632 7,632 Total $ 33,283 $ 1,099,559 $ 41,488 $ 1,174,330 Liabilities: Contingent consideration $ — $ — $ 31,481 $ 31,481 Rate lock commitments — — 2,977 2,977 Forwards sale contracts — — 14,971 14,971 Total $ — $ — $ 49,429 $ 49,429
Schedule of Changes in Level 3 RBC Forwards, Rate Lock Commitments, Forwards and Contingent Consideration Measured at Fair Value on Recurring Basis	Changes in Level 3 Nasdaq Forwards, rate lock commitments, forward sale contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands): As of September 30, 2021 Opening Total realized Issuances Settlements Closing Unrealized Assets: Rate lock commitments $ 21,034 $ 14,081 $ — $ (21,034) $ 14,081 $ 14,081 Forward sale contracts 7,632 15,486 — (7,632) 15,486 15,486 Nasdaq Forwards 12,822 (12,822) — — — — Total $ 41,488 $ 16,745 $ — $ (28,666) $ 29,567 $ 29,567 Opening Total realized Issuances Settlements Closing Unrealized Liabilities: Contingent consideration $ 31,481 $ 724 $ — $ (16,279) $ 15,926 $ 15,926 Rate lock commitments 2,977 3,928 — (2,977) 3,928 3,928 Forward sale contracts 14,971 8,886 — (14,971) 8,886 8,886 Total $ 49,429 $ 13,538 $ — $ (34,227) $ 28,740 $ 28,740 As of December 31, 2020 Opening Total realized Issuances Settlements Closing Unrealized Assets: Rate lock commitments $ 32,035 $ 21,034 $ — $ (32,035) $ 21,034 $ 21,034 Forward sale contracts 14,389 7,632 — (14,389) 7,632 7,632 Nasdaq Forwards 26,502 (13,680) — — 12,822 12,822 Total $ 72,926 $ 14,986 $ — $ (46,424) $ 41,488 $ 41,488 Opening Total realized Issuances Settlements Closing Unrealized Liabilities: Contingent consideration $ 45,172 $ (11,063) $ 2,221 $ (4,849) $ 31,481 $ (408) Rate lock commitments 12,124 2,977 (12,124) 2,977 2,977 Forward sale contracts 13,537 14,971 (13,537) 14,971 14,971 Total $ 70,833 $ 6,885 $ 2,221 $ (30,510) $ 49,429 $ 17,540
Summary of Quantitative Information about Level 3 Fair Value Measurements	The following tables present quantitative information about the significant unobservable inputs utilized by Newmark in the fair value measurement of Level 3 assets and liabilities measured at fair value on a recurring basis: September 30, 2021 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 15,926 Discount rate 0.3% - 10.4% (1) 8.7% Probability of meeting earnout and contingencies 0%- 99% (1) 79.2% Financial forecast information Derivative assets and liabilities: Nasdaq Forwards $ — $ — Implied volatility N/A N/A Forward sale contracts $ 15,486 $ 8,886 Counterparty credit risk N/A N/A Rate lock commitments $ 14,081 $ 3,928 Counterparty credit risk N/A N/A December 31, 2020 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 31,481 Discount rate 0.3% - 10.4% 7.1% Probability of meeting earnout and contingencies 0% - 100% (1) 93.9% Financial forecast information Derivative assets and liabilities: Nasdaq Forwards $ 12,822 $ — Implied volatility 42.4% - 42.6% (2) 42.5% Forward sale contracts $ 7,632 $ 14,971 Counterparty credit risk N/A N/A Rate lock commitments $ 21,034 $ 2,977 Counterparty credit risk N/A N/A (1) Newmark’s estimate of contingent consideration as of September 30, 2021 and December 31, 2020 was based on the acquired business’ projected future financial performance, including revenues. (2) The volatility of Newmark’s Nasdaq Forwards is primarily based on the volatility of the underlying Nasdaq stock price.

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Summary of Current Portion of Accounts Payable, Accrued Expenses and Other Liabilities	The accounts payable, accrued expenses and other liabilities consisted of the following (in thousands): September 30, 2021 December 31, 2020 Accounts payable and accrued expenses $ 214,080 $ 97,304 Redeemable preferred partnership units — — Outside broker payable 60,730 53,504 Payroll taxes payable 100,689 60,696 Corporate taxes payable 104,663 25,666 Derivative liability 12,814 17,948 Right-of-use liabilities 81,195 29,468 Credit enhancement deposit — 25,000 Contingent consideration 5,795 16,962 Total $ 579,966 $ 326,548
Summary of Other Long-term Liabilities	Other long-term liabilities consisted of the following (in thousands): September 30, 2021 December 31, 2020 Accrued compensation $ 90,597 $ 331,288 Payroll and other taxes payable 74,704 61,564 Financial guarantee liability 24,355 29,581 Deferred rent 18,729 — Contingent consideration 10,131 14,519 Total $ 218,516 $ 436,952

Compensation (Tables)

Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Compensation Cost for Share-Based Payment Arrangements	Newmark incurred compensation expense related to Class A common stock, limited partnership units and RSUs held by Newmark employees as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Issuance of common stock and exchangeability expenses $ 14,414 $ 13,243 $ 298,202 $ 21,668 Allocations of net income to limited partnership units and FPUs (1) 13,166 29,221 38,092 30,753 Limited partnership units amortization 2,323 4,901 (32,056) 12,808 RSU amortization 4,059 3,404 11,505 9,315 Equity-based compensation and allocations of net income to limited partnership units and FPUs $ 33,962 $ 50,769 $ 315,743 $ 74,544 (1) Certain limited partnership units receive quarterly allocations of net income and are generally contingent upon services being provided by the unit holders, including the Preferred Distribution. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Issuance of common stock and exchangeability expenses $ 14,321 $ 125 $ 302,764 $ 2,606 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Limited partnership units amortization $ 2,323 $ 4,901 $ (32,056) $ 12,808 Compensation expense related to these limited partnership units held by Newmark employees was as follows (in thousands:): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Issuance of common stock and exchangeability expenses $ 93 $ 13,118 $ (4,562) $ 19,062 Compensation expense related to Newmark and BGC RSUs are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RSU amortization $ 4,059 $ 3,404 $ 11,505 $ 9,315
Schedule of Activity Associated with Limited Partnership Units	A summary of the activity associated with limited partnership units held by Newmark employees is as follows: Newmark Units BGC Units Balance, January 1, 2020 60,800,852 (1) 56,053,701 Issued 12,569,298 1,071,612 Redeemed/exchanged units (6,660,984) (2,657,901) Forfeited units/other (82,981) (45,410) Balance, December 31, 2020 66,626,185 54,422,002 Issued 7,391,727 159,057 Redeemed/exchanged units (55,677,163) (44,363,649) Forfeited units/other (197,739) (882,111) September 30, 2021 18,143,010 9,335,299 Total exchangeable units outstanding (2) : December 31, 2020 9,906,763 24,863,107 September 30, 2021 2,511,283 1,313,439 (1) Includes the pre-IPO Newmark employees share-equivalent limited partnership units in BGC Holdings. (2) The Limited Partnership table above also includes partnership units issued for consideration for acquisitions. As of September 30, 2021, there were 4.5 million partnership units in Newmark Holdings outstanding, of which 1.6 million units were exchangeable, and 7.7 million partnership units in BGC Holdings outstanding, of which 3.4 million were exchangeable. As of December 31, 2020, there were 5.3 million partnership units in Newmark Holdings outstanding, of which 2.0 million units were exchangeable, and 9.1 million partnership units in BGC Holdings outstanding, of which 4.5 million were exchangeable. A summary of the BGC Holdings and Newmark Holdings limited partnership units held by Newmark employees is as follows: Newmark BGC Regular units 16,590,171 9,178,951 Preferred Units 1,552,839 156,348 Balance, September 30, 2021 18,143,010 9,335,299
Schedule of Units Redeemed	A summary of units held by Newmark employees redeemed in connection with the issuance of Newmark or BGC Class A common stock (at the current exchange ratio) or granted exchangeability for Newmark or BGC Class A common stock is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 BGC Units 2,324,626 34,893 13,960,614 225,725 Newmark Units 305,636 25,419 32,392,989 194,072 Total 2,630,262 60,312 46,353,603 419,797
Schedule of Limited Partnership Units with a Post-Termination Payout	Limited partnership units with a post-termination payout held by Newmark employees are as follows (dollars in thousands): September 30, 2021 December 31, 2020 Notional Value (1) $ 108,087 $ 257,771 Estimated fair value of the post-termination payout (2) $ 35,181 $ 68,682 Outstanding limited partnership units in BGC Holdings 105,969 4,873,040 Outstanding limited partnership units in BGC Holdings - unvested — 873,822 Outstanding limited partnership units in Newmark Holdings 11,059,337 20,184,716 Outstanding limited partnership units in Newmark Holdings - unvested 6,073,713 9,778,078 (1) Beginning January 1, 2018, Newmark began granting stand-alone limited partnership units in Newmark Holdings to Newmark employees. (2) Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets. Liability balance also includes $6.8 million of post-termination units issued as consideration for acquisition.
Schedule of Grant of Conversion Rights	The grant of conversion rights to Newmark employees are as follows (in thousands): September 30, 2021 December 31, 2020 Notional Value $ 12,836 $ 218,520 Estimated fair value of limited partnership units (1) $ 12,558 $ 208,029 (1) Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets.
Schedule of Activity Associated with Restricted Stock Units	A summary of the activity associated with Newmark and BGC RSUs held by Newmark employees is as follows (fair value amount in thousands): Newmark RSUs (1) BGC RSUs (2) Restricted Weighted- Fair Weighted- Restricted Weighted- Fair Weighted- Balance, January 1, 2020 4,683,571 $ 7.55 $ 35,361 5.69 46,807 $ 9.97 $ 467 0.25 Granted 7,337,460 7.96 58,415 7,912 3.69 29 Settled units (delivered shares) (1,151,507) 8.29 (9,549) (45,544) 9.95 (453) Forfeited units (222,727) 7.78 (1,733) (1,162) 10.64 (12) Balance, December 31, 2020 10,646,797 $ 7.75 $ 82,494 5.69 8,013 $ 3.80 $ 31 2.17 Granted 2,390,382 9.07 21,682 — — — Settled units (delivered shares) (1,821,395) 7.50 (13,656) (2,638) 3.69 (9) Forfeited units (438,302) 6.72 (2,945) — — — Balance, September 30, 2021 10,777,482 $ 8.13 $ 87,575 5.24 5,375 $ 3.85 $ 22 1.41 (1) Beginning January 1, 2018, Newmark began granting stand-alone Newmark RSUs to Newmark employees with the awards vesting ratably over the two (2) RSUs granted to these individuals generally vest over a two

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details) $ / shares in Units, $ in Thousands

Jul. 02, 2021USD ($)shares

Jun. 28, 2021USD ($)shares

Jun. 25, 2021USD ($)shares

Nov. 30, 2020USD ($)shares

Dec. 02, 2019USD ($)shares

Sep. 26, 2018USD ($)trancheshares

Jun. 28, 2013USD ($)shares

Sep. 30, 2021USD ($)$ / sharesshares

Dec. 31, 2018USD ($)

Jul. 01, 2021$ / shares

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Nov. 30, 2019USD ($)

Jun. 18, 2018USD ($)

Description Of Business

Shares settled (in shares) | shares

741,505

898,685

944,329

Investment owned shares settled fair value

$ 93,500

$ 93,500

$ 166,000

Shares owned (in shares) | shares

250,742

93,562

5,278,011

Marketable securities

$ 536,154

$ 33,283

Assets

5,333,165

3,982,450

Total liabilities

3,686,553

3,041,258

Retained earnings

$ 932,268

342,764

2021 Equity Event

Description Of Business

Compensation expense

$ 428,600

Deferred tax asset, net of allowance

$ 101,000

Settlement share price (in usd per share) | $ / shares

$ 12.50

$ 13.01

Class A Common Stock | 2021 Equity Event

Description Of Business

Limited partnership units conversion ratio

0.9403

Common Stock | Nasdaq

Description Of Business

Fair value of equity security

$ 1,093,900

$ 536,200

$ 33,300

Shares owned (in shares) | shares

2,763,825

Cumulative Effect, Period of Adoption, Adjustment

Description Of Business

Assets

$ (8,000)

Total liabilities

17,900

Retained earnings

$ (25,900)

Nasdaq Earn-Out | Common Stock

Description Of Business

Fair value of equity security

$ 166,000

$ 121,900

Shares settled (in shares) | shares

944,329

6,222,340

Marketable securities

$ 98,600

Nasdaq Omx

Description Of Business

Purchase consideration paid in cash

$ 750,000

Period for expected payment under Common stock transaction (years)

15 years

Nasdaq Omx | Maximum

Description Of Business

Shares received from transaction (in shares) | shares

992,247

BGC Partners Inc | Nasdaq Omx | Maximum

Description Of Business

Expected payment of shares under common stock transaction (in shares) | shares

14,883,705

BGC Partners Inc | Nasdaq Omx | Minimum

Description Of Business

Gross revenue on expected payment per year under common stock transaction

$ 25,000

Newmark OpCo | RBC

Description Of Business

Exchangeable preferred limited partnership units issued (in shares)

$ 150,000

$ 175,000

Proceeds from issuance of EPUs

$ 266,100

Exchangeable preferred limited partnership units, number of tranches | tranche

4

Newmark Holdings, L.P. | Limited Partnership Units | Employees

Description Of Business

Shares redeemed or exchanged (in shares) | shares

8,300,000

Newmark Holdings, L.P. | Limited Partnership Units | Independent Contractors

Description Of Business

Shares redeemed or exchanged (in shares) | shares

23,200,000

BGC Holdings, L.P. | Limited Partnership Units | Employees

Description Of Business

Shares redeemed or exchanged (in shares) | shares

8,000,000

BGC Holdings, L.P. | Limited Partnership Units | Independent Contractors

Description Of Business

Shares redeemed or exchanged (in shares) | shares

17,400,000

Limited Partnership Interests_2

Limited Partnership Interests in Newmark Holdings and BGC Holdings (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2021trancheshares	Sep. 30, 2021trancheshares	Dec. 13, 2017
Related Party Transaction
Payout period for post-termination awards		4 years
Percentage to preferred units (in percentage)	0.6875%	2.75%
Non Distribution Earning Units
Related Party Transaction
Award vesting period (in years)		4 years
Class B Common Stock | Cantor
Related Party Transaction
Exchangeable partnership units (in shares)	23,700,000	23,700,000
Share converted (in shares)		1
Class A Common Stock
Related Party Transaction
Limited partnership units exchange ratio (in percentage)			1
Newmark OpCo | RBC
Related Party Transaction
Exchangeable preferred limited partnership units, number of tranches | tranche	4	4
NEWMARK Group Inc Parent | Class A Common Stock
Related Party Transaction
Limited partnership units exchange ratio (in percentage)	0.9339	0.9339

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle
Guaranty liabilities	$ 24,355		$ 24,355		$ 29,581		$ 15
Provision for expected credit losses	1,100	$ 0	(5,226)	$ 32,600	11,631
Total stockholders’ equity	1,255,783		1,255,783		655,049
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle
Guaranty liabilities						$ 17,900	17,935
Accounts Receivable
New Accounting Pronouncements or Change in Accounting Principle
Allowance for doubtful accounts	$ 17,200		$ 17,200		13,400
Accounts Receivable | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle
Increase in reserve					4,200
Loans Receivable
New Accounting Pronouncements or Change in Accounting Principle
Allowance for credit loss					$ 3,700
Loans Receivable | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle
Total stockholders’ equity							$ 3,700

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from External Customer
Revenues	$ 788,126	$ 435,924	$ 1,921,977	$ 1,303,572
Leasing and other commissions
Revenue from External Customer
Revenues	231,533	114,947	563,311	375,465
Capital markets commissions
Revenue from External Customer
Revenues	252,095	82,956	558,254	263,838
Gains from mortgage banking activities/originations, net
Revenue from External Customer
Revenues	60,029	91,192	148,683	210,686
Management services, servicing fees and other
Revenue from External Customer
Revenues	$ 244,469	$ 146,829	$ 651,729	$ 453,583

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 31, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition
Goodwill		$ 651,695	$ 651,695		$ 560,332	$ 557,914
Unrealized gain on investment			27,825	$ 0
First and second lien debt			58,933	$ 5,850
Knotel, Inc.
Business Acquisition
Debtor-in-possession facility financing costs	$ 19,800
First and second lien debt			39,584
Debtor-in-possession financing			19,788
Assumed liability			7,868
Cash			28,494
Goodwill		90,844	90,844
Business acquisition, amount deductible for tax		71,600	71,600
Business acquisition, aggregate revenue contribution		23,800	41,300
Total consideration transferred			95,734
Knotel, Inc. | Restricted Stock Units (RSUs)
Business Acquisition
Shares issued as compensation			95,700
Deskeo
Business Acquisition
Debt securities		13,800	13,800
Unrealized gain on investment		27,800	27,800
2020 Acquisitions
Business Acquisition
Assumed liability					3,590
Goodwill					6,294
Business acquisition, amount deductible for tax					2,400
Business acquisition, aggregate revenue contribution		$ 1,900	$ 4,200
Total consideration transferred					9,839
Business acquisition, contingent non cash consideration, fair value					1,300
Contingent consideration cash					2,200
2020 Acquisitions | Restricted Stock Units (RSUs)
Business Acquisition
Assumed liability					400
First and second lien debt					$ 5,900
Business acquisition, equity interest issued (in shares)					104,653

Acquisitions - Summary of Compo

Acquisitions - Summary of Components of Purchase Consideration Transferred and Preliminary Allocation of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Allocations
Goodwill	$ 651,695	$ 560,332	$ 557,914
Knotel, Inc.
Purchase Price
First and second lien debt	39,584
Debtor-in-possession financing	19,788
Assumed liability	7,868
Cash	28,494
Total	95,734
Allocations
Cash	21,642
Goodwill	90,844
Other intangible assets, net	34,290
Receivables, net	6,894
Fixed Assets, net	40,605
Other assets	62,708
Right-of-use Assets	457,674
Right-of-use Liabilities	(454,606)
Accrued Compensation	(2,076)
Accounts payable, accrued expenses and other liabilities	(107,122)
Unrealized gain on investment	(27,825)
Initial investment (recorded at cost)	(13,832)
Non-controlling interest	(13,463)
Net assets acquired	$ 95,733
2020 Acquisitions
Purchase Price
Assumed liability		3,590
Cash, stock and units issued at closing		6,249
Total		9,839
Allocations
Goodwill		6,294
Other intangible assets, net		2,700
Receivables, net		796
Fixed Assets, net		134
Other assets		29
Accounts payable, accrued expenses and other liabilities		(114)
Net assets acquired		$ 9,839

Earnings Per Share and Weight_3

Earnings Per Share and Weighted-Average Shares Outstanding - Calculation of Basic Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic earnings per share
Net income available to common stockholders	[1]	$ 128,549	$ 72,101	$ 595,198	$ 75,703
Basic weighted-average shares of common stock outstanding (in shares)		199,413	179,501	189,317	178,527
Basic earnings per share (in usd per share)		$ 0.64	$ 0.40	$ 3.14	$ 0.42
NEWMARK Group Inc Parent
Earnings Per Share
Reduction for dividends on preferred stock or units		$ 0	$ 3,200	$ 6,200	$ 8,100
[1]	Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 30, 2021, respectively, and $3.2 million and $8.1 million for the three and nine months ended September 30, 2020, respectively. (see Note 1 — “Organization and Basis of Presentation”).

Earnings Per Share and Weight_4

Earnings Per Share and Weighted-Average Shares Outstanding - Calculation of Fully Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fully diluted earnings per share:
Net income available to common stockholders	[1]	$ 128,549	$ 72,101	$ 595,198	$ 75,703
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax		0	31,522	0	34,719
Net income for fully diluted shares		$ 128,549	$ 103,623	$ 595,198	$ 110,422
Weighted-average shares:
Common stock outstanding (in shares)		199,413	179,501	189,317	178,527
Cantor units (units)		0	0	0	0
Partnership units (units)		0	86,912	0	86,093
RSUs (Treasury stock method) (units)		4,696	155	3,816	254
Newmark exchange shares ( in shares)		1,172	225	1,187	230
Fully diluted weighted-average shares of common stock outstanding (in shares)		205,281	266,793	194,320	265,104
Fully diluted earnings per share (in usd per share)		$ 0.63	$ 0.39	$ 3.06	$ 0.42
[1]	Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 30, 2021, respectively, and $3.2 million and $8.1 million for the three and nine months ended September 30, 2020, respectively. (see Note 1 — “Organization and Basis of Presentation”).

Earnings Per Share and Weight_5

Earnings Per Share and Weighted-Average Shares Outstanding - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Potentially securities excluded from computation of fully diluted earnings per share amount (in shares)	52.5	9.2	73.6	6

Stock Transactions and Unit R_3

Stock Transactions and Unit Redemptions - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended				9 Months Ended
	Sep. 30, 2021USD ($)voteclass$ / sharesshares	Aug. 31, 2021$ / sharesshares	Jul. 31, 2021$ / sharesshares	Sep. 30, 2021USD ($)voteclass$ / sharesshares	Jun. 30, 2021$ / sharesshares	Mar. 31, 2021$ / sharesshares	Sep. 30, 2020shares	Sep. 30, 2021USD ($)voteclassshares$ / shares	Sep. 30, 2020shares	Aug. 05, 2021USD ($)	Feb. 17, 2021shares	Dec. 31, 2020$ / sharesshares	Jun. 30, 2020shares	Dec. 31, 2019shares
Class of Stock
Number of authorized classes of common stock | class	2			2				2
Number of shares authorized to be repurchased (in shares)											400,000,000
Remaining from debt repurchase authorization | $										$ 400,000
Class A Common Stock
Class of Stock
Common stock, votes per share | vote	1			1				1
Common stock, shares authorized (in shares)	1,000,000,000			1,000,000,000				1,000,000,000				1,000,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.01			$ 0.01				$ 0.01				$ 0.01
Common stock, shares outstanding (in shares)	174,407,338			174,407,338	179,736,458		158,630,125	174,407,338	158,630,125			161,175,894	157,811,436	156,265,461
Treasury stock repurchases (in shares)	3,477,925	2,777,350	52,527	6,307,802	3,613,098	879,243	0	10,800,143	0
Shares repurchased price (in dollars per share) | $ / shares	$ 13.67	$ 13.17	$ 13.05	$ 13.44	$ 12.81	$ 10.58		$ 13
Share repurchase and redemption unit remaining authorized amount | $	$ 315,879			$ 315,879				$ 315,879
Class B Common Stock
Class of Stock
Common stock, votes per share | vote	10			10				10
Common stock, shares authorized (in shares)	500,000,000			500,000,000				500,000,000				500,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.01			$ 0.01				$ 0.01				$ 0.01
Conversion of common stock (in shares)								1
Common stock, shares outstanding (in shares)	21,285,533			21,285,533				21,285,533				21,285,533

Stock Transactions and Unit R_4

Stock Transactions and Unit Redemptions - Schedule of Changes in Shares of Common Stock Outstanding (Detail) - shares	1 Months Ended			3 Months Ended				9 Months Ended
	Sep. 30, 2021	Aug. 31, 2021	Jul. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share issuances:
Other (in shares)				(244,815)				18,572,317
Class A Common Stock
Increase (Decrease) in Stockholders' Equity
Shares outstanding at beginning of period (in shares)			179,736,458	179,736,458		161,175,894	157,811,436	161,175,894	156,265,461
Share issuances:
LPU redemption/exchange (in shares)				968,762			607,971	3,960,927	1,617,690
Other (in shares)							0		0
Treasury stock repurchases (in shares)	(3,477,925)	(2,777,350)	(52,527)	(6,307,802)	(3,613,098)	(879,243)	0	(10,800,143)	0
Shares outstanding at end of period (in shares)	174,407,338			174,407,338	179,736,458		158,630,125	174,407,338	158,630,125
Class A Common Stock | Restricted Stock Units (RSUs)
Share issuances:
Issuance of Class A common stock for Newmark RSUs (in shares)				254,735			210,718	1,498,343	746,974

Stock Transactions and Unit R_5

Stock Transactions and Unit Redemptions - Schedule of Share Repurchase Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended				9 Months Ended
	Sep. 30, 2021	Aug. 31, 2021	Jul. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Class of Stock
Shares repurchased (in shares)	16,337,227			16,337,227				16,337,227		5,498,228
Class A Common Stock
Class of Stock
Gross units redeemed (shares)				0	167,894	0		167,894
Treasury stock repurchases (in shares)	3,477,925	2,777,350	52,527	6,307,802	3,613,098	879,243	0	10,800,143	0
Shares repurchased (in shares)	10,968,037			10,968,037				10,968,037
Average price of units redeemed (in dollars per share)				$ 0	$ 11.91	$ 0		$ 11.91
Average price paid per unit or share (in dollars per share)	$ 13.67	$ 13.17	$ 13.05	$ 13.44	$ 12.81	$ 10.58		13
Average Price Paid (in dollars per share)								$ 12.98
Approximate Dollar Value of Units and Shares That May Yet Be Repurchased/ Purchased Under the  Program	$ 315,879			$ 315,879				$ 315,879

Stock Transactions and Unit R_6

Stock Transactions and Unit Redemptions - Schedule of Changes in Carrying Amount of Redeemable Partnership Interest (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Temporary Equity
Balance at beginning of period:	$ 20,045	$ 21,517
Income allocation	4,826	1,740
Distributions of income	(1,215)	(1,740)
Redemptions	(642)	(1,472)
Issuance and other	(124)	$ 0
Balance at end of period	$ 22,890

Marketable Securities (Details)

Marketable Securities (Details) - USD ($)	Jul. 02, 2021	Jun. 25, 2021	Nov. 30, 2020	Dec. 02, 2019	Jun. 28, 2013	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities
Shares settled (in shares)			741,505	898,685				944,329
Shares owned (in shares)			250,742	93,562		5,278,011		5,278,011
Investment owned shares settled fair value			$ 93,500,000	$ 93,500,000				$ 166,000,000
Gross proceeds from sale of marketable securities								495,703,000	$ 34,738,000
Gain (loss) on marketable securities								16,472,000	(2,204,000)
Unrealized (gains) loss on marketable securities								41,485,000	$ 0
Common Stock
Marketable Securities
Amount recognized in connection with the earn-out including other income (loss) (in shares)										992,247	992,247
Number of shares sold in transaction (in shares)							0
Common Stock | Nasdaq
Marketable Securities
Marketable securities		$ 1,093,900,000				$ 536,200,000		$ 536,200,000		$ 33,300,000
Shares owned (in shares)						2,763,825		2,763,825
Fair value of marketable securities						$ 536,200,000		$ 536,200,000
Number of shares sold in transaction (in shares)						3,458,515		3,709,257	343,562
Gross proceeds from sale of marketable securities						$ 460,300,000		$ 495,700,000	$ 34,700,000
Gain (loss) on marketable securities						11,800,000		16,500,000	(2,200,000)
Unrealized (gains) loss on marketable securities						$ 58,100,000	$ 0	$ 41,500,000	$ 0
Common Stock | Nasdaq | Nasdaq
Marketable Securities
Number of shares pledged to be repurchased (in shares)						953,100		953,100
Value of shares pledged to be repurchased						$ 184,900,000		$ 184,900,000
Amount received from the value of shares pledged						$ 140,000,000		$ 140,000,000
Common Stock | Nasdaq Earn-Out
Marketable Securities
Shares settled (in shares)	944,329	6,222,340
Marketable securities	$ 166,000,000		$ 121,900,000
Maximum | Common Stock
Marketable Securities
Remaining earn-out receivable under common stock transaction (in shares)					6,945,729
Minimum | Common Stock
Marketable Securities
Gross revenue on earn-out receivable per year under common stock transaction					$ 25,000,000
BGC Partners Inc | Common Stock
Marketable Securities
Period for earn-out receivable under common stock transaction (years)					7 years
BGC Partners Inc | Nasdaq Omx
Marketable Securities
Period for earn-out receivable under common stock transaction (years)					15 years
BGC Partners Inc | Nasdaq Omx | Maximum
Marketable Securities
Earn-out shares receivable under common stock transaction (in shares)					14,883,705
BGC Partners Inc | Nasdaq Omx | Minimum
Marketable Securities
Gross revenue on earn-out receivable per year under common stock transaction					$ 25,000,000

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Sep. 08, 2017
Schedule of Equity Method Investments
(Loss) income from equity method investments	$ 0	$ (7,400,000)	$ 0	$ (11,562,000)
Distributions received	0	0	0	0
Equity method investment	88,308,000		88,308,000		$ 88,315,000
Unrealized gain (loss) on marketable securities	0	$ 0	2,500,000	$ (26,800,000)
Other Assets
Schedule of Equity Method Investments
Equity method investment	88,300,000		88,300,000		88,300,000
Debt securities	$ 14,000,000		$ 14,000,000		$ 9,900,000
CF Real Estate Finance Holdings, L.P.
Schedule of Equity Method Investments
Equity method investment ownership percentage (in percentage)	27.00%		27.00%
Equity method investment						$ 100,000,000

Capital and Liquidity Require_2

Capital and Liquidity Requirements (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Compliance with Regulatory Capital Requirements under Banking Regulations
Percentage of Freddie Mac's liquidity requirement of outstanding principal of TAH loans serviced (in percentage)	8.00%	8.00%
Other Assets
Compliance with Regulatory Capital Requirements under Banking Regulations
Outstanding borrower advances	$ 0.8	$ 0.8
Seller/Servicer Agreements
Compliance with Regulatory Capital Requirements under Banking Regulations
Amount of capital in excess of aggregate regulatory requirements	$ 346.7

Loans Held for Sale, at Fair _3

Loans Held for Sale, at Fair Value - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance [Abstract]
Maximum period of loans held for sale sold (in days)	45 days
Financing receivable, nonaccrual	$ 0	$ 0

Loans Held for Sale, at Fair _4

Loans Held for Sale, at Fair Value - Summary of Loans Held for Sale at Cost Basis and Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable
Loans held for sale, at fair value	$ 1,200,192	$ 1,086,805
Cost Basis
Accounts, Notes, Loans and Financing Receivable
Loans held for sale, at fair value	1,184,382	1,062,511
Fair Value
Accounts, Notes, Loans and Financing Receivable
Loans held for sale, at fair value	$ 1,200,192	$ 1,086,805

Loans Held for Sale, at Fair _5

Loans Held for Sale, at Fair Value - Fair Value Adjustments on Loans Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance [Abstract]
Interest income on loans held for sale	$ 5,392	$ 6,806	$ 13,326	$ 18,862
Gains (loss) recognized on change in fair value on loans held for sale	$ 9,989	$ 1,978	$ 15,810	$ 27,136

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Contracts (Detail) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	$ 29,567,000	$ 41,488,000
Liabilities	12,814,000	17,948,000
Notional Amounts	1,960,210,000	1,830,454,000
Rate lock commitments
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	14,081,000	21,034,000
Liabilities	3,928,000	2,977,000
Notional Amounts	387,914,000	296,972,000
Nasdaq Forwards
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	0	12,822,000
Liabilities	0	0
Notional Amounts	0	174,000,000
Forward sale contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	15,486,000	7,632,000
Liabilities	8,886,000	14,971,000
Notional Amounts	$ 1,572,296,000	$ 1,359,482,000

Derivatives - Additional Inform

Derivatives - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Rate lock commitments | Compensation and employee benefits
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	$ (0.5)	$ 0.7	$ 1.7	$ 1.6

Derivatives - Summary of Gains

Derivatives - Summary of Gains Losses on Derivative Contracts Included in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Rate lock commitments | Compensation and employee benefits
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	$ (500)	$ 700	$ 1,700	$ 1,600
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	6,612	5,788	4,570	4,780
Not Designated as Hedging Instrument | Nasdaq Forwards | Other income (loss), net
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	221	(5,771)	(12,183)	(7,543)
Not Designated as Hedging Instrument | Rate lock commitments | Gains (loss) from mortgage banking activities/originations, net
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	(8,001)	(3,951)	11,842	46,004
Not Designated as Hedging Instrument | Rate lock commitments | Compensation and employee benefits
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	488	(677)	(1,689)	(1,576)
Not Designated as Hedging Instrument | Forward sale contracts | Gains (loss) from mortgage banking activities/originations, net
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	$ 13,904	$ 16,187	$ 6,600	$ (32,105)

Credit Enhancement Receivable_3

Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability - Narrative (Details) - USD ($)	Mar. 23, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 09, 2021	Dec. 31, 2020
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit
Credit enhancement receivable		$ 0		$ 0			$ 0
Deposit in Fannie Mae restricted liquidity account		25,000,000		25,000,000		$ 25,000,000	25,000,000
Returned the credit enhancement deposit	$ 25,000,000
DB Cayman | Credit Risk
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit
Reimbursements under serving agreement		0	$ 0	0	$ 0
Percentage of contingent payment (in percentage)						50.00%
Contingent liability		$ 0		$ 0			$ 12,300,000

Credit Enhancement Receivable_4

Credit Enhancement Receivable, Credit Enhancement Deposit and Contingent Liability (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit
Credit risk loans	$ 25,461,276	$ 24,048,754
Credit Risk
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit
Maximum DB Cayman credit protection	0	18,689
DB Cayman | Credit Risk
Credit Enhancement Receivable Contingent Liability And Credit Enhancement Deposit
Credit risk loans	7,642,218	7,172,509
Maximum DB Cayman credit protection	0	6,230
Maximum loss exposure without any form of credit protection	$ 7,642,218	$ 7,166,279

Revenues from Contracts with _3

Revenues from Contracts with Customers - Schedule of Revenues from Contracts with Customers and Our Other Sources of Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue
Revenues from contracts with customers:	$ 682,165	$ 305,342	$ 1,646,083	$ 977,409
Revenues	788,126	435,924	1,921,977	1,303,572
Gains from mortgage banking activities/originations, net
Disaggregation of Revenue
Other sources of revenue	60,029	91,192	148,683	210,686
Servicing fees and other
Disaggregation of Revenue
Other sources of revenue	45,932	39,390	127,211	115,477
Leasing and other commissions
Disaggregation of Revenue
Revenues from contracts with customers:	231,533	114,947	563,311	375,465
Revenues	231,533	114,947	563,311	375,465
Capital markets commissions
Disaggregation of Revenue
Revenues from contracts with customers:	252,095	82,956	558,254	263,838
Management services
Disaggregation of Revenue
Revenues from contracts with customers:	$ 198,537	$ 107,439	$ 524,518	$ 338,106

Revenues from Contracts with _4

Revenues from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 2.1		$ 2.9
Deferred revenue, revenue recognized	$ 1.6	$ 2.3

Gains from Mortgage Banking A_3

Gains from Mortgage Banking Activities/Originations, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Mortgage Banking [Abstract]
Fair value of expected net future cash flows from servicing recognized at commitment, net	$ 33,642	$ 60,948	$ 88,175	$ 132,423
Loan originations related fees and sales premiums, net	26,387	30,244	60,508	78,263
Total	$ 60,029	$ 91,192	$ 148,683	$ 210,686

Mortgage Servicing Rights, Ne_2

Mortgage Servicing Rights, Net - Summary of Changes in the Carrying Amount of Mortgage Servicing Rights (Detail) - Mortgage Servicing Rights - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Mortgage Servicing Rights
Beginning Balance	$ 544,725	$ 460,473	$ 528,983	$ 432,666
Additions	28,246	53,006	98,820	126,571
Purchases from an affiliate	0	0	0	200
Amortization	(28,760)	(24,901)	(83,592)	(70,859)
Ending Balance	544,211	488,578	544,211	488,578
Valuation Allowance
Beginning Balance	(18,319)	(37,241)	(34,254)	(19,022)
Decrease (increase)	8,031	1,850	23,966	(16,369)
Ending Balance	(10,288)	(35,391)	(10,288)	(35,391)
Net Balance	$ 533,923	$ 453,187	$ 533,923	$ 453,187

Mortgage Servicing Rights, Ne_3

Mortgage Servicing Rights, Net - Schedule of Servicing Fees and Escrow Interest (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Transfers and Servicing [Abstract]
Servicing fees	$ 35,444	$ 29,432	$ 102,534	$ 84,347
Escrow interest and placement fees	1,117	876	3,168	4,995
Ancillary fees	3,533	2,060	7,352	5,584
Total servicing fees and escrow interest	$ 40,094	$ 32,368	$ 113,054	$ 94,926

Mortgage Servicing Rights, Ne_4

Mortgage Servicing Rights, Net - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Mortgage Servicing Rights
Primary servicing portfolio	$ 68,000	$ 66,300
Special servicing portfolio	2,100	2,300
Discount Rate One
Mortgage Servicing Rights
Decrease in fair value of servicing rights	17.6	14.8
Discount Rate Two
Mortgage Servicing Rights
Decrease in fair value of servicing rights	$ 34.3	$ 28.9
Minimum
Mortgage Servicing Rights
Discount rates used in measuring fair value (in percentage)	6.10%	6.10%
Minimum | Discount Rate One
Mortgage Servicing Rights
Increase in discount rate (in percentage)	1.00%
Maximum
Mortgage Servicing Rights
Discount rates used in measuring fair value (in percentage)	13.50%	13.50%
Maximum | Discount Rate Two
Mortgage Servicing Rights
Increase in discount rate (in percentage)	2.00%
Mortgage Servicing Rights
Mortgage Servicing Rights
Estimated fair value of MSRs	$ 585.2	$ 527.1

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Summary of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Goodwill
Beginning balance	$ 560,332	$ 557,914
Acquisitions	90,844	6,294
Measurement period adjustments	519	(3,876)
Ending balance	$ 651,695	$ 560,332

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss					$ 0
Intangible amortization expense	$ 2,400,000	$ 1,700,000	$ 6,500,000	$ 5,100,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Components of Other Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, accumulated amortization	$ (30,910)	$ (23,226)
Definite life, weighted- average remaining life (Years)	5 years	5 years 6 months
Gross amount	$ 102,735	$ 67,515
Definite life, accumulated amortization	(30,910)	(23,226)
Net carrying amount	71,825	44,289
Trademark and trade names
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	12,629	5,704
Definite life, accumulated amortization	(5,509)	(4,519)
Definite life, net carrying amount	$ 7,120	$ 1,185
Definite life, weighted- average remaining life (Years)	1 year 9 months 18 days	1 month 6 days
Definite life, accumulated amortization	$ (5,509)	$ (4,519)
License agreements (GSE)
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	4,981	4,981
Definite life, accumulated amortization	(4,981)	(4,266)
Definite life, net carrying amount	$ 0	$ 715
Definite life, weighted- average remaining life (Years)	0 years	0 years
Definite life, accumulated amortization	$ (4,981)	$ (4,266)
Non-contractual customers
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	30,131	30,131
Definite life, accumulated amortization	(12,248)	(9,729)
Definite life, net carrying amount	$ 17,883	$ 20,402
Definite life, weighted- average remaining life (Years)	9 years 7 months 6 days	7 years 2 months 12 days
Definite life, accumulated amortization	$ (12,248)	$ (9,729)
Non-compete agreements
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	6,557	6,557
Definite life, accumulated amortization	(3,654)	(2,920)
Definite life, net carrying amount	$ 2,903	$ 3,637
Definite life, weighted- average remaining life (Years)	3 years 8 months 12 days	7 months 6 days
Definite life, accumulated amortization	$ (3,654)	$ (2,920)
Contractual customers
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	27,145	3,052
Definite life, accumulated amortization	(2,931)	(1,584)
Definite life, net carrying amount	$ 24,214	$ 1,468
Definite life, weighted- average remaining life (Years)	2 years 7 months 6 days	4 months 24 days
Definite life, accumulated amortization	$ (2,931)	$ (1,584)
Other
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	4,552	350
Definite life, accumulated amortization	(1,587)	(208)
Definite life, net carrying amount	$ 2,965	$ 142
Definite life, weighted- average remaining life (Years)	5 years 6 months	0 years
Definite life, accumulated amortization	$ (1,587)	$ (208)
Trademark and trade names
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Indefinite life, intangible assets	11,350	11,350
License agreements (GSE)
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Indefinite life, intangible assets	$ 5,390	$ 5,390

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, Net - Schedule of Estimated Future Amortization of Definite Life Intangible Assets (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2021	$ 2,411
2022	9,349
2023	8,989
2024	8,435
2025	7,076
Thereafter	18,825
Total	$ 55,085

Fixed Assets, Net - Components

Fixed Assets, Net - Components of Fixed Assets, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment
Fixed assets, gross	$ 238,739	$ 183,524
Accumulated depreciation and amortization	(105,170)	(87,157)
Fixed assets, net	133,569	96,367
Leasehold improvements, furniture and fixtures, and other fixed assets
Property, Plant and Equipment
Fixed assets, gross	179,294	126,428
Software, including software development costs
Property, Plant and Equipment
Fixed assets, gross	32,361	30,928
Computer and communications equipment
Property, Plant and Equipment
Fixed assets, gross	$ 27,084	$ 26,168

Fixed Assets, Net - Additional

Fixed Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment
Depreciation expense	$ 6.4	$ 5.3	$ 16.5	$ 13.6
Impairment charges	0	1.1	0	1.4
Software, including software development costs
Property, Plant and Equipment
Software development costs capitalized	0	0.5	0.8	2.6
Amortization of software development costs	$ 0.3	$ 0.3	$ 1	$ 0.9

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Lessee, Lease, Description
Remaining lease terms (in years)	16 years		16 years
Operating lease costs	$ 27,200	$ 12,600	$ 60,700	$ 37,600
Operating lease payments			58,700	36,400
Short-term lease expense	500	200	1,200	700
Sublease income	$ 100	400	$ 600	400
Weighted average discount rate (in percentage)	4.22%		4.22%		7.11%
Weighted average lease term (in years)	7 years 6 months		7 years 6 months		8 years 2 months 12 days
Right-of-use assets	$ 642,825		$ 642,825		$ 190,469
Right-of-use liabilities	$ 81,195		$ 81,195		$ 29,468
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable, accrued expenses and other liabilities (see Note 29)		Accounts payable, accrued expenses and other liabilities (see Note 29)		Accounts payable, accrued expenses and other liabilities (see Note 29)
Right-of-use liabilities, non-current	$ 618,149		$ 618,149		$ 218,629
Rent expense, under 842	$ 29,700	$ 12,300	$ 62,900	$ 37,300
Minimum
Lessee, Lease, Description
Remaining lease terms (in years)	1 year		1 year
Options to extend leases (in years)	5 years		5 years
Maximum
Lessee, Lease, Description
Options to extend leases (in years)	10 years		10 years

Leases - Schedule of Lease Paym

Leases - Schedule of Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due
Remainder of fiscal year	$ 65,475
Year one	117,374	$ 45,701
Year two	113,095	42,072
Year three	107,259	40,507
Year four	101,119	37,866
Year five		36,520
After year four	345,279
After year five		126,668
Total lease payments	849,601	329,334
Less: Interest	150,257	81,237
Present value of lease liability	$ 699,344	$ 248,097

Other Current Assets and Othe_3

Other Current Assets and Other Assets - Summary of Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Assets [Abstract]
Derivative assets	$ 29,567	$ 32,259
Prepaid expenses	44,848	18,900
Other taxes	21,563	9,204
Rent and other deposits	19,121	1,539
Other	129	1,888
Total other current assets	$ 115,228	$ 63,790

Other Current Assets and Othe_4

Other Current Assets and Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Assets [Abstract]
Deferred tax assets	$ 101,060	$ 187,526
Equity method investment	88,308	88,315
Debt securities	0	12,754
Non-marketable investments	13,958	9,927
Derivative assets	0	9,229
Other	35,085	15,171
Total	$ 238,411	$ 322,922

Securities Loaned (Details)

Securities Loaned (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument
Securities loaned		$ 140,000	$ 33,278
Cantor
Debt Instrument
Securities loaned			33,300
Securities loaned, fair value		$ 184,900	$ 32,600
Stated interest rate (in percentage)			0.85%
CF Secured | Subsequent Event
Debt Instrument
Securities loaned	$ 260,000
Value of shares pledged to be repurchased	$ 365,400

Warehouse Facilities Collater_3

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises (Details) - USD ($)	2 Months Ended	9 Months Ended
	Feb. 01, 2021	Sep. 30, 2021	Dec. 31, 2020
Securities Financing Transaction
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises		$ 1,184,329,000	$ 1,061,202,000
Outstanding draws		1,184,329,000	1,061,202,000
Committed Lines
Securities Financing Transaction
Lines available		1,450,000,000
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises			1,061,202,000
Outstanding draws			1,061,202,000
Uncommitted Lines
Securities Financing Transaction
Lines available		700,000,000
Warehouse Facility Due October 8, 2022
Securities Financing Transaction
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises		414,236,000	358,247,000
Outstanding draws		$ 414,236,000	358,247,000
Warehouse Facility Due October 8, 2022 | LIBOR
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.30%
Warehouse Facility Due October 8, 2022 | Committed Lines
Securities Financing Transaction
Lines available		$ 600,000,000
Warehouse Facility Due June 15, 2022
Securities Financing Transaction
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises		418,944,000	292,040,000
Outstanding draws		$ 418,944,000	292,040,000
Warehouse Facility Due June 15, 2022 | LIBOR
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.30%
Warehouse Facility Due June 15, 2022 | LIBOR | Minimum
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.40%
Warehouse Facility Due June 15, 2022 | Committed Lines
Securities Financing Transaction
Lines available		$ 450,000,000
Warehouse Facility Due June 15, 2022 | Committed Lines | LIBOR | Minimum
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.80%
Warehouse Facility Due June 15, 2022 | Uncommitted Lines
Securities Financing Transaction
Lines available		$ 300,000,000
Warehouse Facility Due June 15, 2022 | Sublimit Lines
Securities Financing Transaction
Lines available		125,000,000
Warehouse facility due September 25, 2022
Securities Financing Transaction
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises		315,656,000	146,380,000
Outstanding draws		$ 315,656,000	146,380,000
Warehouse facility due September 25, 2022 | LIBOR
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.30%
Warehouse facility due September 25, 2022 | LIBOR | Minimum
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.40%
Warehouse facility due September 25, 2022 | Committed Lines
Securities Financing Transaction
Lines available		$ 400,000,000
Fannie Mae repurchase agreement, open maturity
Securities Financing Transaction
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises		35,493,000	264,535,000
Outstanding draws		$ 35,493,000	$ 264,535,000
Fannie Mae repurchase agreement, open maturity | LIBOR
Securities Financing Transaction
Basis spread on variable rate (in percentage)		1.15%
Fannie Mae repurchase agreement, open maturity | Uncommitted Lines
Securities Financing Transaction
Lines available		$ 400,000,000
Warehouse facility due October 8, 2021 | Committed Lines
Securities Financing Transaction
Lines available	$ 900,000,000
Warehouse credit facility increase (decrease)	$ 300,000,000

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 16, 2020	Nov. 06, 2018
Debt Instrument
Long-term debt	$ 544,615	$ 680,385
Senior Notes | 6.125% Senior Notes
Debt Instrument
Long-term debt	$ 544,615	542,772
Stated interest rate (in percentage)	6.125%			6.125%	6.125%
Line of Credit | Revolving Credit Facility
Debt Instrument
Long-term debt	$ 0	$ 137,613
Stated interest rate (in percentage)	1.84%		1.91%

Long-Term Debt - Senior Notes N

Long-Term Debt - Senior Notes Narratives (Details) - Senior Notes - 6.125% Senior Notes - USD ($)	Sep. 30, 2021	Jun. 16, 2020	Nov. 06, 2018	Nov. 01, 2018
Debt Instrument
Stated interest rate (in percentage)	6.125%	6.125%	6.125%
Debt instrument face amount			$ 550,000,000
Debt price level (in percentage)				98.94%
Debt instrument yield (in percentage)			6.375%

Long-Term Debt - Senior Notes C

Long-Term Debt - Senior Notes Carrying Amount (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Details for the Senior Notes
Total	$ 544,615	$ 680,385
Senior Notes | 6.125% Senior Notes
Details for the Senior Notes
Principal balance	550,000	550,000
Less: Debt issue cost	2,725	3,688
Less: debt discount	2,660	3,540
Total	$ 544,615	$ 542,772

Long-Term Debt - Senior Notes_2

Long-Term Debt - Senior Notes Net Interest Expense (Details) - Senior Notes - 6.125% Senior Notes - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest Expense and Amortization of Debt Issue Costs
Interest expense	$ 8,720	$ 8,702	$ 26,146	$ 26,092
Debt issue cost amortization	321	321	963	963
Debt discount amortization	298	275	881	737
Total	$ 9,339	$ 9,298	$ 27,990	$ 27,792

Long-Term Debt - Debt Repurchas

Long-Term Debt - Debt Repurchase Program Narratives (Details) - USD ($)	Sep. 30, 2021	Jun. 16, 2020	Nov. 06, 2018
Equity, Class of Treasury Stock
Remaining from debt repurchase authorization	$ 50,000,000
6.125% Senior Notes | Senior Notes
Equity, Class of Treasury Stock
Authorized amount		$ 50,000,000
Stated interest rate (in percentage)	6.125%	6.125%	6.125%

Long-Term Debt - Credit Facilit

Long-Term Debt - Credit Facility Narratives (Details) - USD ($)	Mar. 16, 2020	Feb. 26, 2020	Nov. 28, 2018	Jul. 31, 2021	Sep. 30, 2021	Sep. 30, 2020
Line of Credit Facility
Repayments of lines of credit					$ 5,873,958,000	$ 6,985,205,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility
Maximum revolving credit	$ 465,000,000	$ 425,000,000	$ 250,000,000
Long-term debt term (in years)			3 years
Repayments of lines of credit				$ 140,000,000
Stated interest rate (in percentage)					1.84%	1.91%
LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)	1.75%	1.75%
Interest Rate Option Two | Federal Funds Rate | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			0.50%
Interest Rate Option Two | One-month LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			1.00%
Interest Rate Option Two | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			2.00%
Interest Rate Option One | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			1.00%
Minimum | Interest Rate Option Two | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			1.25%
Minimum | Interest Rate Option One | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			0.25%
Maximum | Interest Rate Option Two | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			2.25%
Maximum | Interest Rate Option One | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate (in percentage)			1.25%
Weighted Average | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Interest rate in the period (in percentage)					0.42%	2.53%

Long-Term Debt - Credit Facil_2

Long-Term Debt - Credit Facility Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Details for the Credit Facility
Total	$ 544,615	$ 680,385
Revolving Credit Facility | Line of Credit
Details for the Credit Facility
Principal balance	0	140,000
Less: Debt issue cost	0	2,387
Total	$ 0	$ 137,613

Long-Term Debt - Credit Facil_3

Long-Term Debt - Credit Facility Net Interest Expense (Details) - Revolving Credit Facility - Line of Credit - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest Expense and Amortization of Debt Issue Costs
Interest expense	$ 150	$ 1,805	$ 1,341	$ 5,504
Debt issue cost amortization	275	275	826	737
Unused facility fee	276	63	695	203
Total	$ 701	$ 2,143	$ 2,862	$ 6,444

Financial Guarantee Liability -

Financial Guarantee Liability - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)loan	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)loan	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)loan
Guarantor Obligations
Outstanding loan balances	$ 25,500,000		$ 25,500,000		$ 24,000,000
Maximum loss potential	7,600,000		7,600,000		7,200,000
Portion covered by Credit Enhancement Agreement					6,200
Provision for expected credit losses	1,100	$ 0	(5,226)	$ 32,600	11,631
Delinquent
Guarantor Obligations
Outstanding loan balances	33,600		33,600		53,500
Maximum loss potential	$ 11,200		$ 11,200		$ 17,800
Number of loans (loans) | loan	2		2		4
Liquidation value of loans outstanding	$ 29,900		$ 29,900		$ 39,000
Potential loss on liquidation of loan			$ 1,700		$ 5,300
Fannie Mae DUS or Freddie TAH Loans | Maximum
Guarantor Obligations
Percentage of contingent liability of actual losses incurred on outstanding loans (in percentage)			33.00%

Financial Guarantee Liability_2

Financial Guarantee Liability - Summary of Changes on Estimated Liability Under Guarantee Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Guaranty LIability:
Beginning balance			$ 29,581	$ 15	$ 15
Provision for expected credit losses	$ 1,100	$ 0	(5,226)	32,600	11,631
Ending balance	$ 24,355		$ 24,355		29,581
Cumulative Effect, Period of Adoption, Adjustment
Guaranty LIability:
Beginning balance				$ 17,935	$ 17,935

Concentrations of Credit Risk (

Concentrations of Credit Risk (Details) - Fannie Mae DUS and Freddie Mac TAH Loans - Liabilities - Credit Concentration Risk - USD ($) $ in Billions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Concentration Risk
Maximum DB Cayman credit protection	$ 7.6	$ 7.2
California
Concentration Risk
Concentration risk percentage (in percentage)	21.00%	21.00%
Texas
Concentration Risk
Concentration risk percentage (in percentage)	13.00%	14.00%

Escrow and Custodial Funds (Det

Escrow and Custodial Funds (Details) - USD ($) $ in Billions	Sep. 30, 2021	Dec. 31, 2020
Deposit Assets Disclosure [Abstract]
Escrow funds amount	$ 1.2	$ 1.3

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Fair Value Hierarchy of Financial Assets and Liabilities under U.S. GAAP Guidance (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Marketable securities	$ 536,154	$ 33,283
Loans held for sale, at fair value	1,200,192	1,086,805
Debt securities	0	12,754
Total assets	1,765,913	1,174,330
Liabilities:
Contingent consideration	15,926	31,481
Total Liabilities	168,740	49,429
Rate lock commitments
Assets:
Derivative asset	14,081	21,034
Liabilities:
Derivative liability	3,928	2,977
Nasdaq Forwards
Assets:
Derivative asset	0	12,822
Forward sale contracts
Assets:
Derivative asset	15,486	7,632
Liabilities:
Derivative liability	8,886	14,971
Securities Loaned
Liabilities:
Securities Loaned	140,000
Level 1
Assets:
Marketable securities	536,154	33,283
Loans held for sale, at fair value	0	0
Debt securities		0
Total assets	536,154	33,283
Liabilities:
Contingent consideration	0	0
Total Liabilities	140,000	0
Level 1 | Rate lock commitments
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 1 | Nasdaq Forwards
Assets:
Derivative asset	0	0
Level 1 | Forward sale contracts
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 1 | Securities Loaned
Liabilities:
Securities Loaned	140,000
Level 2
Assets:
Marketable securities	0	0
Loans held for sale, at fair value	1,200,192	1,086,805
Debt securities		12,754
Total assets	1,200,192	1,099,559
Liabilities:
Contingent consideration	0	0
Total Liabilities	0	0
Level 2 | Rate lock commitments
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 2 | Nasdaq Forwards
Assets:
Derivative asset	0	0
Level 2 | Forward sale contracts
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 2 | Securities Loaned
Liabilities:
Securities Loaned	0
Level 3
Assets:
Marketable securities	0	0
Loans held for sale, at fair value	0	0
Debt securities		0
Total assets	29,567	41,488
Liabilities:
Contingent consideration	15,926	31,481
Total Liabilities	28,740	49,429
Level 3 | Rate lock commitments
Assets:
Derivative asset	14,081	21,034
Liabilities:
Derivative liability	3,928	2,977
Level 3 | Nasdaq Forwards
Assets:
Derivative asset	0	12,822
Level 3 | Forward sale contracts
Assets:
Derivative asset	15,486	7,632
Liabilities:
Derivative liability	8,886	$ 14,971
Level 3 | Securities Loaned
Liabilities:
Securities Loaned	$ 0

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Assets, Unobservable Input Reconciliation:
Opening Balance	$ 41,488	$ 72,926
Total realized and unrealized gains (losses) included in Net income	16,745	14,986
Issuances	0	0
Settlements	(28,666)	(46,424)
Closing Balance	29,567	41,488
Unrealized gains (losses) outstanding	29,567	41,488
Liabilities, Unobservable Input Reconciliation:
Opening Balance	49,429	70,833
Total realized and unrealized gains (losses) included in Net income	13,538	6,885
Issuances	0	2,221
Settlements	(34,227)	(30,510)
Closing Balance	28,740	49,429
Unrealized (gains) losses outstanding, at end of period	28,740	17,540
Rate lock commitments
Assets, Unobservable Input Reconciliation:
Opening Balance	21,034	32,035
Total realized and unrealized gains (losses) included in Net income	14,081	21,034
Issuances	0	0
Settlements	(21,034)	(32,035)
Closing Balance	14,081	21,034
Unrealized gains (losses) outstanding	14,081	21,034
Liabilities, Unobservable Input Reconciliation:
Opening Balance	2,977	12,124
Total realized and unrealized gains (losses) included in Net income	3,928	2,977
Issuances	0
Settlements	(2,977)	(12,124)
Closing Balance	3,928	2,977
Unrealized (gains) losses outstanding, at end of period	3,928	2,977
Forward sale contracts
Assets, Unobservable Input Reconciliation:
Opening Balance	7,632	14,389
Total realized and unrealized gains (losses) included in Net income	15,486	7,632
Issuances	0	0
Settlements	(7,632)	(14,389)
Closing Balance	15,486	7,632
Unrealized gains (losses) outstanding	15,486	7,632
Liabilities, Unobservable Input Reconciliation:
Opening Balance	14,971	13,537
Total realized and unrealized gains (losses) included in Net income	8,886	14,971
Issuances	0
Settlements	(14,971)	(13,537)
Closing Balance	8,886	14,971
Unrealized (gains) losses outstanding, at end of period	8,886	14,971
Nasdaq Forwards
Assets, Unobservable Input Reconciliation:
Opening Balance	12,822	26,502
Total realized and unrealized gains (losses) included in Net income	(12,822)	(13,680)
Issuances	0	0
Settlements	0	0
Closing Balance	0	12,822
Unrealized gains (losses) outstanding	0	12,822
Contingent consideration
Liabilities, Unobservable Input Reconciliation:
Opening Balance	31,481	45,172
Total realized and unrealized gains (losses) included in Net income	724	(11,063)
Issuances	0	2,221
Settlements	(16,279)	(4,849)
Closing Balance	15,926	31,481
Unrealized (gains) losses outstanding, at end of period	$ 15,926	$ (408)

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	$ 29,567	$ 41,488
Liabilities	$ 12,814	17,948
Minimum | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0
Maximum | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.99
Weighted Average | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.792
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration	$ 15,926	$ 31,481
Level 3 | Minimum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.003	0.003
Level 3 | Minimum | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input		0
Level 3 | Maximum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.104	0.104
Level 3 | Maximum | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input		1
Level 3 | Weighted Average | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.087	0.071
Level 3 | Weighted Average | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input		0.939
Level 3 | Nasdaq Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	$ 0	$ 12,822
Level 3 | Nasdaq Forwards | Minimum | Implied volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input		0.424
Level 3 | Nasdaq Forwards | Maximum | Implied volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input		0.426
Level 3 | Nasdaq Forwards | Weighted Average | Implied volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input		0.425
Level 3 | Forward Sale Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	15,486	$ 7,632
Liabilities	8,886	14,971
Level 3 | Rate lock commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	14,081	21,034
Liabilities	$ 3,928	$ 2,977

Fair Value of Financial Asset_6

Fair Value of Financial Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities	$ 14,000	$ 9,900
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration	15,926	31,481
Contingent consideration, at cost	29,700	51,300
Level 3 | Present value of expected payments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration	$ 15,900	$ 31,500

Related Party Transactions - Se

Related Party Transactions - Service Agreements and Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction
Fees to related parties	$ 5,664	$ 6,109	$ 17,696	$ 17,126
Loans, forgivable loans and other receivables from employees and partners, net	449,746		449,746		$ 454,270
Labor and related expense	478,371	304,677	1,590,622	859,228
Employee Loans
Related Party Transaction
Loans, forgivable loans and other receivables from employees and partners, net	449,700		449,700		$ 454,300
Labor and related expense	17,200	18,300	54,000	50,200
Cantor Fitzgerald Limited Partnership And B G C Partners Incorporation
Related Party Transaction
Fees to related parties	$ 5,700	$ 6,100	$ 17,700	$ 17,100

Related Party Transactions - Tr

Related Party Transactions - Transfer of Employees to Newmark and Other Related Party Transactions (Details) shares in Millions	May 01, 2018USD ($)employee	Jul. 31, 2020USD ($)	Feb. 28, 2019USD ($)	Oct. 31, 2018USD ($)shares	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Related Party Transaction
Total stockholders’ equity					$ 1,255,783,000	$ 655,049,000
Redeemable partnership interests					22,890,000	20,045,000	$ 21,517,000
Payables to related parties					$ 7,347,000	$ 4,392,000
CCRE
Related Party Transaction
Number of employees transferred | employee	5
Proceeds from limited partnership units				$ 6,900,000
Total stockholders’ equity	$ 6,900,000
Redeemable partnership interests	2,200,000
Maximum revenue share to related party in first two years	$ 3,300,000
Payments to related party		$ 3,300,000
CCRE | Newmark Holdings, L.P.
Related Party Transaction
Proceeds from issuance of EPUs				6,700,000
Limited partnership unit cash distributions				$ 200,000
Issuance of additional limited partners units in exchange (in shares) | shares				2.2
Issuance of additional limited partners units in exchange for cash payment				$ 500,000
Issuance of additional limited partnership units with capital account				$ 2,200,000
Cantor Fitzgerald Limited Partnership And B G C Partners Incorporation | Government Sponsored Enterprise Loans
Related Party Transaction
Maximum amount per loan			$ 100,000,000
Limit on loans that have not yet been acquired or sold			250,000,000
Limit on loans outstanding			$ 250,000,000

Related Party Transactions - _2

Related Party Transactions - Transactions with CCRE (Details) - USD ($)	Aug. 16, 2019	Jul. 22, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related Party Transaction
Purchase of mortgage servicing rights					$ 0	$ 200,000
Mortgage servicing right recognized			$ 26,387,000	$ 30,244,000	60,508,000	78,263,000
Third Party Bank And Cantor Commercial Real Estate LP
Related Party Transaction
Amount of loan purchased by third-party (in percentage)	80.00%
Amount of loan retained by third-party (in percentage)	20.00%
Interest rate on loans receivable (in percentage)	4.38%
Fee paid to Newmark for brokering loan	$ 700,000
Real Estate Loan | Third Party Bank And Cantor Commercial Real Estate LP
Related Party Transaction
Commercial real estate loan		$ 146,600,000
CCRE
Related Party Transaction
Recognized related party revenues			700,000	400,000	1,700,000	500,000
CCRE | Loan Referral Agreement
Related Party Transaction
Revenue from loan referral agreement			0	0	0	0
CCRE | Primary Servicing Rights
Related Party Transaction
MSR acquired					0	227,000,000
Purchase of mortgage servicing rights						200,000
Mortgage servicing right recognized			$ 900,000	$ 1,300,000	$ 2,700,000	$ 3,300,000
Barry M. Gosin | Third Party Bank And Cantor Commercial Real Estate LP
Related Party Transaction
Ownership interest of loans receivable (in percentage)		19.00%

Related Party Transactions - _3

Related Party Transactions - Transactions With Executive Officers and Directors (Details) $ / shares in Units, $ in Thousands

Jun. 28, 2021USD ($)$ / sharesshares

Apr. 27, 2021USD ($)$ / sharesshares

Mar. 16, 2021USD ($)$ / sharesshares

Sep. 30, 2021$ / sharesshares

Aug. 31, 2021$ / sharesshares

Jul. 31, 2021$ / sharesshares

Sep. 30, 2021$ / sharesshares

Jun. 30, 2021$ / sharesshares

Mar. 31, 2021$ / sharesshares

Sep. 30, 2020shares

Sep. 30, 2021USD ($)$ / sharesshares

Sep. 30, 2020shares

Dec. 13, 2017

Related Party Transaction

Stock issued, value | $

$ 4,025

Class A Common Stock

Related Party Transaction

Treasury stock repurchases (in shares)

3,477,925

2,777,350

52,527

6,307,802

3,613,098

879,243

0

10,800,143

0

Shares repurchased price (in dollars per share) | $ / shares

$ 13.67

$ 13.17

$ 13.05

$ 13.44

$ 12.81

$ 10.58

$ 13

Limited partnership units exchange ratio (in percentage)

1

Mr. Merkel

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

30,926

Payment of withholding tax rate for common stock issue | $

$ 800

$ 300

Number of share issued for non exchangeable PPSU (in shares)

86,649

Shares repurchased price (in dollars per share) | $ / shares

$ 10.67

Mr. Merkel | Class A Common Stock

Related Party Transaction

Stock issued (in shares)

28,962

Share price (usd per share) | $ / shares

$ 11.09

Treasury stock repurchases (in shares)

68,727

Mr. Merkel | PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

73,387

Mr. Merkel | Non Exchangeable PPSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

19,426

Payment of withholding tax rate for common stock issue | $

$ 200

Mr. Merkel | Non Exchangeable PSU

Related Party Transaction

Number of share issued for non exchangeable PPSU (in shares)

145,384

Howard W. Lutnick

Related Party Transaction

Stock issued, value | $

$ 21,600

Howard W. Lutnick | BGC Partners Inc

Related Party Transaction

Number of non exchangeable PSU converted (in shares)

1,131,774

Howard W. Lutnick | Class A Common Stock

Related Party Transaction

Stock issued (in shares)

263,025

5,154

PSU conversion ratio (per share)

0.9403

Shares repurchased price (in dollars per share) | $ / shares

$ 10.67

Limited partnership units exchange ratio (in percentage)

0.9403

Number of exchangeable PPSU redeemed (in shares)

193,530

Cash payment to redeem | $

$ 2,500

Number of non exchangeable PPSU redeemed (in shares)

793,398

Howard W. Lutnick | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Stock issued (in shares)

88,636

Howard W. Lutnick | PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

279,725

Stock issued (in shares)

2,736,103

4,423,457

Howard W. Lutnick | PSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

520,380

Howard W. Lutnick | PSU | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

520,380

Howard W. Lutnick | Non Exchangeable PPSU

Related Party Transaction

Stock issued (in shares)

1,770,016

Number of non exchangeable PPSU redeemed (in shares)

602,462.94

Cash payment to redeem non exchangeable shares | $

$ 22,900

Howard W. Lutnick | Non Exchangeable PPSU | BGC Partners Inc

Related Party Transaction

Cash payment to redeem | $

$ 2,400

Number of non exchangeable PPSU redeemed (in shares)

1,018,390

Number of exchangeable PSU redeemed (in shares)

425,766

Howard W. Lutnick | Non Exchangeable PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

2,909,819

Number of non exchangeable PSU converted (in shares)

552,482.62

Howard W. Lutnick | Non Exchangeable PSU | BGC Partners Inc

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

88,636

Number of non exchangeable PSU converted (in shares)

1,131,774

Howard W. Lutnick | Non Exchangeable HDU

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 8,000

Number of non exchangeable HUD (in shares)

552,482.62

Howard W. Lutnick | Non Exchangeable HDU | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Stock issued (in shares)

29,059

Howard W. Lutnick | BGC Holdings H U D | BGC Partners Inc

Related Party Transaction

Payment of withholding tax rate for common stock issue | $

$ 300

Mr. Gosin

Related Party Transaction

PSU conversion ratio (per share)

0.9365

Value of LPU issued in exchange | $

$ 5,800

Mr. Gosin | BGC Partners Inc

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 0

Mr. Gosin | Class A Common Stock

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

178,232

Stock issued (in shares)

1,439,658

Share price (usd per share) | $ / shares

$ 11.09

Limited partnership units exchange ratio (in percentage)

0.9403

Cash payment to redeem | $

$ 9,200

Grant of exchangeability, redemption and issuance of limited partnership interests and issuance of common stock (in shares)

2,114,456

Mr. Gosin | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Stock issued (in shares)

12,500

Cash payment to redeem | $

$ 9,800

Number of exchangeable (in shares)

3,348,706

Mr. Gosin | Class A Common Stock | Newmark Units

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

82,680

Mr. Gosin | PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

526,828

Number of exchangeable (in shares)

1,438,597.37

Mr. Gosin | PSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

3,147,085

Mr. Gosin | Non Exchangeable PPSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

0

Number of non exchangeable PPSU redeemed (in shares)

539,080.23

Mr. Gosin | Non Exchangeable PPSU | BGC Partners Inc

Related Party Transaction

Number of non exchangeable PPSU redeemed (in shares)

264,985

Number of exchangeable PSU redeemed (in shares)

2,114,546

Mr. Gosin | Non Exchangeable A P S U

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

30,871

Mr. Gosin | Non Exchangeable PSU

Related Party Transaction

Number of non exchangeable PSU converted (in shares)

443,871.6

Mr. Gosin | Non Exchangeable PSU | BGC Partners Inc

Related Party Transaction

Number of non exchangeable PSU converted (in shares)

1,592,016

Mr. Gosin | Non Exchangeable HDU

Related Party Transaction

Number of non exchangeable HUD (in shares)

443,871.6

Payment to convert non exchangeable shares, net | $

$ 5,400

Mr. Gosin | Non Exchangeable HDU | BGC Partners Inc

Related Party Transaction

Number of non exchangeable HUD (in shares)

1,592,016

Mr. Gosin | Holdings Unit

Related Party Transaction

Number of exchangeable (in shares)

1,531,061.84

Mr. Gosin | Holdings Unit | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

3,348,706

Mr. Gosin | Exchangeable APSU

Related Party Transaction

Number of exchangeable (in shares)

92,464.47

Mr. Gosin | Exchangeable APSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

201,621

Mr. Gosin | Exchangeable PPSU

Related Party Transaction

Number of exchangeable PPSU redeemed (in shares)

60,753.97

Mr. Gosin | Exchangeable PPSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable PPSU redeemed (in shares)

80,891

Michael J. Rispoli

Related Party Transaction

Value of LPU issued in exchange | $

$ 100

Michael J. Rispoli | BGC Partners Inc

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 100

Michael J. Rispoli | Class A Common Stock

Related Party Transaction

Stock issued (in shares)

21,744

Share price (usd per share) | $ / shares

$ 11.09

PSU conversion ratio (per share)

0.9365

Limited partnership units exchange ratio (in percentage)

0.9403

Michael J. Rispoli | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Stock issued (in shares)

383

Cash payment to redeem | $

$ 100

Number of exchangeable (in shares)

36,985

Michael J. Rispoli | PSU

Related Party Transaction

Number of exchangeable (in shares)

23,124

Michael J. Rispoli | Non Exchangeable PPSU

Related Party Transaction

Number of non exchangeable PPSU redeemed (in shares)

4,917

Michael J. Rispoli | Non Exchangeable PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

6,000

Number of non exchangeable PSU converted (in shares)

5,846

Michael J. Rispoli | Non Exchangeable HDU

Related Party Transaction

Number of non exchangeable HUD (in shares)

5,846

Michael J. Rispoli | Exchangeable PPSU

Related Party Transaction

Number of exchangeable PPSU redeemed (in shares)

18,668.77

Cash payment to redeem | $

$ 200

Michael J. Rispoli | Exchangeable PPSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable PPSU redeemed (in shares)

29,791

Michael J. Rispoli | Restricted Stock

Related Party Transaction

Limited partnership units exchange ratio (in percentage)

0.9403

Michael J. Rispoli | Restricted Stock | Class A Common Stock

Related Party Transaction

Stock issued (in shares)

5,642

Michael J. Rispoli | Holdings PSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

36,985

Executive Officer | Class A Common Stock

Related Party Transaction

Share price (usd per share) | $ / shares

$ 12.50

Executive Officer | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Share price (usd per share) | $ / shares

5.86

Executive Officer | Class A Common Stock | Nasdaq

Related Party Transaction

Share price (usd per share) | $ / shares

$ 177.11

Stephen M. Merkel | Class A Common Stock

Related Party Transaction

Stock issued (in shares)

48,072

Limited partnership units exchange ratio (in percentage)

0.9403

Stephen M. Merkel | PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

51,124.28

Stephen M. Merkel | Non Exchangeable PPSU

Related Party Transaction

Number of non exchangeable PPSU redeemed (in shares)

46,349.87

Cash payment to redeem non exchangeable shares | $

$ 500

Preferred Units | Michael J. Rispoli

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

6,043

Payment of withholding tax rate for common stock issue | $

$ 100

Number of share issued for non exchangeable PPSU (in shares)

4,907

Determination price (in dollars per share) | $ / shares

$ 15.57

Related Party Transactions - CF

Related Party Transactions - CF Real Estate Finance Holdings, LP (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 08, 2017
Related Party Transaction
Equity method investment	$ 88,308	$ 88,315
CF Real Estate Finance Holdings, L.P.
Related Party Transaction
Equity method investment			$ 100,000

Related Party Transactions - _4

Related Party Transactions - CF&Co (Details) - Cantor - USD ($)	3 Months Ended
	Sep. 26, 2018	Dec. 31, 2020	Nov. 06, 2018
Related Party Transaction
Fees for services	$ 4,000,000
Stated interest rate (in percentage)		0.85%
6.125% Senior Notes
Related Party Transaction
Debt instrument face amount			$ 550,000,000
Stated interest rate (in percentage)			6.125%
Debt instrument, fee amount			$ 800,000

Related Party Transactions - Ot

Related Party Transactions - Other Related Party Transactions and Cantor Rights to Purchase Cantor Units from Newmark Holdings (Details)

Jun. 28, 2021USD ($)

Mar. 31, 2021USD ($)shares

Nov. 30, 2018USD ($)

May 31, 2021USD ($)

Sep. 30, 2021USD ($)shares

Sep. 30, 2020USD ($)

Sep. 30, 2021USD ($)shares

Sep. 30, 2020USD ($)

Dec. 31, 2020USD ($)

Nov. 30, 2020shares

Dec. 02, 2019shares

Nov. 06, 2018

Dec. 13, 2017

Related Party Transaction

Accounts receivable, related parties

$ 0

$ 0

$ 0

Payables to related parties

$ 7,347,000

7,347,000

$ 4,392,000

Operating lease payments

58,700,000

$ 36,400,000

Proceeds from sales of partnership interest

$ 4,025,000

0

Shares owned (in shares) | shares

5,278,011

5,278,011

250,742

93,562

Common Stock

Related Party Transaction

Limited partnership units exchange ratio (in percentage)

1

Class A Common Stock

Related Party Transaction

Limited partnership units exchange ratio (in percentage)

1

Class A Common Stock | NEWMARK Group Inc Parent

Related Party Transaction

Limited partnership units exchange ratio (in percentage)

0.9339

0.9339

Cantor | Founding partner interest

Related Party Transaction

Stock issued (in shares) | shares

273,088

Proceeds from sales of partnership interest

$ 1,105,598

Cantor | Founding partner interest | Newmark Holdings

Related Party Transaction

Shares owned (in shares) | shares

217,617

217,617

Cantor | Limited partner interest

Related Party Transaction

Stock issued (in shares) | shares

735,625

Proceeds from sales of partnership interest

$ 2,918,919

Affiliated Persons or Entities | BGC Holdings, L.P.

Related Party Transaction

Accounts receivable, related parties

$ 1,100,000

Monthly payment on sublease

$ 15,000

Affiliated Persons or Entities | BGC Holdings, L.P.

Related Party Transaction

Operating lease payments

$ 100,000

$ 400,000

$ 500,000

$ 500,000

Employee of chairman | Knotel, Inc.

Related Party Transaction

Annual base salary

$ 125,000

Employee of chairman | Knotel, Inc. | Maximum

Related Party Transaction

Annual discretionary bonus rate (percent)

30.00%

30.00%

Cantor Credit Agreement | Cantor

Related Party Transaction

Maximum revolving credit

$ 250,000,000

Basis spread on variable rate (in percentage)

1.00%

Related Party Transactions - Sp

Related Party Transactions - Special Purpose Acquisition Company (Details) - USD ($)	1 Months Ended
	Apr. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Related Party Transaction
Payables to related parties		$ 7,347,000	$ 4,392,000
SPAC
Related Party Transaction
Percentage of voting interests acquired (in percent)	75.00%
Shares issued as compensation	$ 18,800
Government Sponsored Enterprise Loans | SPAC
Related Party Transaction
Debt instrument face amount	$ 300,000
Payables to related parties		$ 23,000
Government Sponsored Enterprise Loans | SPAC | Cantor
Related Party Transaction
Percentage of voting interests acquired (in percent)	25.00%

Related Party Transactions - Ne

Related Party Transactions - Newmark OpCo Borrowing Facility with Cantor (Details) $ in Thousands	Oct. 31, 2021USD ($)	Sep. 30, 2021USD ($)shares	Aug. 02, 2021	Dec. 31, 2020USD ($)
Related Party Transaction
Securities loaned		$ 140,000		$ 33,278
Affiliated Persons or Entities
Related Party Transaction
Percentage above fair market value of collateral provided (percent)			130.00%
Minimum maintenance margin of collateral provided (percent)			120.00%
Number of shares pledged (in shares) | shares		953,100
Outstanding amount under the borrowing facility		$ 140,000
Affiliated Persons or Entities | CF Secured
Related Party Transaction
Initial cash to repurchase shares rate			0.0095
Affiliated Persons or Entities | CF Secured | Revolving Credit Facility
Related Party Transaction
Debt instrument yield (in percentage)			1.00%
CF Secured | Subsequent Event
Related Party Transaction
Securities loaned	$ 260,000
Value of shares pledged to be repurchased	$ 365,400

Related Party Transactions - Re

Related Party Transactions - Referral Feed to Cantor (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related Party Transaction
Referral of portfolio sale		$ 5,664	$ 6,109	$ 17,696	$ 17,126
Affiliated Persons or Entities | CRCA | Referral Fees
Related Party Transaction
Referral of portfolio sale	$ 300

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrecognized tax benefits that would impact effective tax rate	$ 200,000	$ 200,000
Income tax-related interest and penalties	$ 0

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities - Components of Current Portion of Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts payable and accrued expenses	$ 214,080	$ 97,304
Redeemable preferred partnership units	0	0
Outside broker payable	60,730	53,504
Payroll taxes payable	100,689	60,696
Corporate taxes payable	104,663	25,666
Derivative liability	12,814	17,948
Right-of-use liabilities	81,195	29,468
Credit enhancement deposit	0	25,000
Contingent consideration	5,795	16,962
Total	$ 579,966	$ 326,548

Accounts Payable, Accrued Exp_4

Accounts Payable, Accrued Expenses and Other Liabilities - Components of Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued compensation	$ 90,597	$ 331,288
Payroll and other taxes payable	74,704	61,564
Financial guarantee liability	24,355	29,581	$ 15
Deferred rent	18,729	0
Contingent consideration	10,131	14,519
Total	$ 218,516	$ 436,952

Compensation - Additional Infor

Compensation - Additional Information (Details) $ in Millions	Jan. 01, 2018	Sep. 30, 2021USD ($)shares	Sep. 30, 2021USD ($)shares	Dec. 31, 2020shares	Dec. 31, 2019shares	Dec. 13, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award
Shares available for future awards (in shares)		326,000,000	326,000,000
Number of shares vested and converted (in shares)		4,000,000	5,300,000
Unrecognized compensation expense related to unvested RSUs | $		$ 85.8	$ 85.8
Executives And Non Executives Employees
Share-based Compensation Arrangement by Share-based Payment Award
Limited partners capital account units held by BGC (in shares)		74,000,000	74,000,000
Non Distribution Earning Units
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)			4 years
Unit granted during period (in shares)		800,000	2,900,000
Newmark Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units exchange ratio (in percentage)		0.4545	0.4545
Newmark Holdings, L.P. | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)		10,777,482	10,777,482	10,646,797	4,683,571
BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)		9,335,299	9,335,299	54,422,002	56,053,701
BGC Holdings, L.P. | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)		7,700,000	7,700,000	9,100,000
Exchangeable partnership units (in shares)		3,400,000	3,400,000	4,500,000
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Limited partners capital account units held by BGC (in shares)		11,059,337	11,059,337	20,184,716
Limited partnership units outstanding (in shares)		18,143,010	18,143,010	66,626,185	60,800,852
NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)		4,500,000	4,500,000	5,300,000
Exchangeable partnership units (in shares)		1,600,000	1,600,000	2,000,000
Maximum | Newmark Holdings, L.P. | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)	8 years
Maximum | NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)			7 years
Minimum | Newmark Holdings, L.P. | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)	2 years
Minimum | NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)			3 years
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units exchange ratio (in percentage)						1
Class A Common Stock | NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units exchange ratio (in percentage)		0.9339	0.9339
Newmark Equity Plan | Class A Common Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized to be delivered pursuant to awards granted (in shares)						400,000,000
Shares registered to be delivered pursuant to awards granted (in shares)						65,000,000

Compensation - Compensation Exp

Compensation - Compensation Expense Related to Limited Partnership Units and Restricted Stock Units (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses	$ 14,321	$ 125	$ 302,764	$ 2,606
Equity-based compensation and allocations of net income to limited partnership units and FPUs			315,742	74,544
Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses	93	13,118	(4,562)	19,062
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Equity-based compensation and allocations of net income to limited partnership units and FPUs	33,962	50,769	315,743	74,544
NEWMARK Group Inc Parent | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units amortization	4,059	3,404	11,505	9,315
NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses	14,414	13,243	298,202	21,668
Allocations of net income to limited partnership units and FPUs	13,166	29,221	38,092	30,753
Limited partnership units amortization	$ 2,323	$ 4,901	$ (32,056)	$ 12,808

Compensation - Activity Associa

Compensation - Activity Associated with Limited Partnership Units (Details) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Beginning balance (in shares)	66,626,185	60,800,852
Number of units, Issued (in shares)	7,391,727	12,569,298
Number of units, Redeemed/exchanged units (in shares)	(55,677,163)	(6,660,984)
Number of units, Forfeited units (in shares)	(197,739)	(82,981)
Ending balance (in shares)	18,143,010	66,626,185
Exchangeable Units (in shares)	2,511,283	9,906,763
BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Beginning balance (in shares)	54,422,002	56,053,701
Number of units, Issued (in shares)	159,057	1,071,612
Number of units, Redeemed/exchanged units (in shares)	(44,363,649)	(2,657,901)
Number of units, Forfeited units (in shares)	(882,111)	(45,410)
Ending balance (in shares)	9,335,299	54,422,002
Exchangeable Units (in shares)	1,313,439	24,863,107
Regular units | NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Ending balance (in shares)	16,590,171
Regular units | BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Ending balance (in shares)	9,178,951
Preferred Units | NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Ending balance (in shares)	1,552,839
Preferred Units | BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Ending balance (in shares)	156,348

Compensation - Units Redeemed i

Compensation - Units Redeemed in Connection with Issuance of Class A Common Stock (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Number of units redeemed (in shares)	2,630,262	60,312	46,353,603	419,797
BGC Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of units redeemed (in shares)	2,324,626	34,893	13,960,614	225,725
Newmark Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of units redeemed (in shares)	305,636	25,419	32,392,989	194,072

Compensation - Limited Partners

Compensation - Limited Partnership Units with a Post-Termination Payout (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Liability balance acquisition related post-termination units	$ 6,800
BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award
Notional value	108,087	$ 257,771
Estimated fair value of the post-termination payout	$ 35,181	$ 68,682
Outstanding limited partnership units (in shares)	105,969	4,873,040
Outstanding limited partnership units - unvested (in dollars per share)	0	873,822
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding limited partnership units (in shares)	11,059,337	20,184,716
Outstanding limited partnership units - unvested (in dollars per share)	6,073,713	9,778,078

Compensation - Grant of Convers

Compensation - Grant of Conversion Rights to Newmark Employees (Details) - Limited Partnership Units - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Notional value	$ 12,836	$ 218,520
Estimated fair value of limited partnership units	$ 12,558	$ 208,029

Compensation - Activity Assoc_2

Compensation - Activity Associated with Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2018	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Newmark Holdings, L.P.
Restricted Stock Units
Beginning balance (in shares)		10,646,797	4,683,571
Number of units, Issued (in shares)		2,390,382	7,337,460
Number of Settled units (delivered shares) (in shares)		(1,821,395)	(1,151,507)
Number of units, Forfeited units (in shares)		(438,302)	(222,727)
Ending balance (in shares)		10,777,482	10,646,797	4,683,571
Weighted- Average Grant Date Fair Value Per Share
Balance at the beginning of period (in dollars per share)		$ 7.75	$ 7.55
Granted (in dollars per share)		9.07	7.96
Settled units (delivered shares) (in dollars per share)		7.50	8.29
Forfeited units (in dollars per share)		6.72	7.78
Balance at the end of period (in dollars per share)		$ 8.13	$ 7.75	$ 7.55
Fair Value Amount
Balance at beginning of period		$ 82,494	$ 35,361
Granted		21,682	58,415
Settled units (delivered shares)		(13,656)	(9,549)
Forfeited units		(2,945)	(1,733)
Balance at end of period		$ 87,575	$ 82,494	$ 35,361
Weighted- Average Remaining Contractual Term (Years)		5 years 2 months 26 days	5 years 8 months 8 days	5 years 8 months 8 days
Newmark Holdings, L.P. | Minimum
Fair Value Amount
Award vesting period (in years)	2 years
Newmark Holdings, L.P. | Maximum
Fair Value Amount
Award vesting period (in years)	8 years
BGC Holdings, L.P.
Restricted Stock Units
Beginning balance (in shares)		8,013	46,807
Number of units, Issued (in shares)		0	7,912
Number of Settled units (delivered shares) (in shares)		(2,638)	(45,544)
Number of units, Forfeited units (in shares)		0	(1,162)
Ending balance (in shares)		5,375	8,013	46,807
Weighted- Average Grant Date Fair Value Per Share
Balance at the beginning of period (in dollars per share)		$ 3.80	$ 9.97
Granted (in dollars per share)		0	3.69
Settled units (delivered shares) (in dollars per share)		3.69	9.95
Forfeited units (in dollars per share)		0	10.64
Balance at the end of period (in dollars per share)		$ 3.85	$ 3.80	$ 9.97
Fair Value Amount
Balance at beginning of period		$ 31	$ 467
Granted		0	29
Settled units (delivered shares)		(9)	(453)
Forfeited units		0	(12)
Balance at end of period		$ 22	$ 31	$ 467
Weighted- Average Remaining Contractual Term (Years)		1 year 4 months 28 days	2 years 2 months 1 day	3 months
BGC Holdings, L.P. | Minimum
Fair Value Amount
Award vesting period (in years)		2 years
BGC Holdings, L.P. | Maximum
Fair Value Amount
Award vesting period (in years)		4 years

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loss Contingencies
Contingent consideration	$ 10,131	$ 14,519
Acquisitions from 2014 through 2018
Loss Contingencies
Contingent consideration	15,600
Construction Loans
Loss Contingencies
Total remaining draws on construction loans committed to fund	$ 500,000	$ 400,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Nov. 04, 2021$ / shares
Class A Common Stock
Subsequent Event
Common stock dividends per share declared (in dollars per share)	$ 0.01
Class B Common Stock
Subsequent Event
Common stock dividends per share declared (in dollars per share)	$ 0.01

Uncategorized Items - nmrk-2021

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]