Newmark (NMRK) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	NMRK
Security Exchange Name	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
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001690680
Class A Common Stock
Document Information
Entity Common Stock, Shares Outstanding		152,231,792
Class B Common Stock
Document Information
Entity Common Stock, Shares Outstanding		21,285,533

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 164,365	$ 233,016
Restricted cash	87,339	79,936
Marketable securities	310	788
Loans held for sale, at fair value	936,970	138,345
Receivables, net	532,758	523,742
Other current assets (see Note 18)	219,119	100,188
Total current assets	1,940,861	1,076,015
Goodwill	775,855	705,894
Mortgage servicing rights, net	544,531	568,552
Loans, forgivable loans and other receivables from employees and partners, net	628,288	500,833
Right-of-use assets	640,125	638,592
Fixed assets, net	176,814	155,639
Other intangible assets, net	92,519	80,968
Other assets (see Note 18)	130,063	214,266
Total assets	4,929,056	3,940,759
Current liabilities:
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises	931,472	137,406
Accrued compensation	307,013	369,540
Accounts payable, accrued expenses and other liabilities (see Note 27)	526,021	511,584
6.125% Senior Notes	549,088	547,784
Total current liabilities	2,322,854	1,576,059
Long-term debt	225,000	0
Right-of-use liabilities	638,340	627,088
Other long-term liabilities (see Note 27)	232,585	196,197
Total liabilities	3,418,779	2,399,344
Commitments and contingencies (see Note 29)
Redeemable partnership interests	15,067	16,550
Equity:
Additional paid-in capital	613,847	584,709
Retained earnings	1,130,644	1,145,006
Accumulated other comprehensive loss	(5,443)	(11,989)
Total stockholders’ equity	1,191,696	1,181,337
Noncontrolling interests	303,514	343,528
Total equity	1,495,210	1,524,865
Total liabilities, redeemable partnership interests, and equity	4,929,056	3,940,759
Related Party
Current liabilities:
Payables to related parties	9,260	9,745
Class A Common Stock
Equity:
Common stock value	2,053	2,011
Treasury stock at cost: 53,160,244 and 50,797,172 shares of Class A common stock at June 30, 2023 and December 31, 2022, respectively	(549,617)	(538,612)
Class B Common Stock
Equity:
Common stock value	$ 212	$ 212

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Treasury stock, shares issued (in shares)	53,160,244	50,797,172
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)	205,394,842	201,181,777
Common stock, shares outstanding (in shares)	152,234,598	150,384,605
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
6.125% Senior Notes | Senior Notes
Stated interest rate	6.125%

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Revenues	$ 585,844	$ 755,351	$ 1,106,643	$ 1,433,599
Expenses:
Compensation and employee benefits	346,930	426,617	675,280	809,201
Equity-based compensation and allocations of net income to limited partnership units and FPUs	19,609	41,988	55,258	58,886
Total compensation and employee benefits	366,539	468,605	730,538	868,087
Operating, administrative and other	146,826	136,629	265,808	274,500
Fees to related parties	6,827	6,748	14,619	13,577
Depreciation and amortization	42,034	38,925	80,864	74,400
Total operating expenses	562,226	650,907	1,091,829	1,230,564
Other income (loss), net	3,925	(15,303)	915	(101,304)
Income (loss) from operations	27,543	89,141	15,729	101,731
Interest expense, net	(9,595)	(8,923)	(17,186)	(16,793)
Income (loss) before income taxes and noncontrolling interests	17,948	80,218	(1,457)	84,938
Provision for income taxes	6,719	18,426	3,663	22,430
Consolidated net income (loss)	11,229	61,792	(5,120)	62,508
Less: Net income (loss) attributable to noncontrolling interests	4,800	13,273	(1,199)	13,627
Net income (loss) available to common stockholders	6,429	48,519	(3,921)	48,881
Basic earnings per share
Net income (loss) available to common stockholders	$ 6,429	$ 48,519	$ (3,921)	$ 48,881
Basic earnings per share (in usd per share)	$ 0.04	$ 0.26	$ (0.02)	$ 0.26
Basic weighted-average shares of common stock outstanding (in shares)	173,939	183,948	173,254	186,401
Fully diluted earnings per share
Net income (loss) for fully diluted shares	$ 8,850	$ 63,379	$ (3,921)	$ 63,448
Fully diluted earnings per share (in usd per share)	$ 0.04	$ 0.26	$ (0.02)	$ 0.25
Fully diluted weighted-average shares of common stock outstanding (in shares)	244,954	247,985	173,254	250,458
Management services, servicing fees and other
Revenues:
Revenues	$ 240,660	$ 233,685	$ 452,952	$ 466,804
Leasing and other commissions
Revenues:
Revenues	203,611	212,825	396,917	411,778
Investment sales
Revenues:
Revenues	77,604	209,053	149,597	361,167
Commercial mortgage origination, net
Revenues:
Revenues	$ 63,969	$ 99,788	$ 107,177	$ 193,850

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Consolidated net income (loss)	$ 11,229	$ 61,792	$ (5,120)	$ 62,508
Foreign currency translation adjustments	3,693	(7,279)	7,951	(7,591)
Comprehensive income, net of tax	14,922	54,513	2,831	54,917
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax	5,455	13,273	206	13,627
Comprehensive income available to common stockholders	$ 9,467	$ 41,240	$ 2,625	$ 41,290

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Common Stock Contingent Class A Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2021	$ 1,664,193	$ 1,940	$ 212	$ 1,572	$ 487,447	$ (290,174)	$ 1,079,661	$ (2,731)	$ 386,266
Increase (Decrease) in Stockholders' Equity
Consolidated net income	62,508						48,881		13,627
Foreign currency translation adjustments	(7,591)							(6,385)	(1,206)
Cantor purchase of Cantor units from Newmark Holdings upon redemption/exchange of FPU's	863								863
Dividends to common stockholders	(7,395)						(7,395)
Earnings distributions to limited partnership interests and other noncontrolling interests	(59,906)								(59,906)
Grant of exchangeability, redemption and issuance of Class A common stock	38,301	48			30,994				7,259
Contributions of capital to and from Cantor for equity-based compensation	1,324				1,089				235
Repurchase of Class A common stock	(175,928)					(150,270)			(25,658)
Restricted stock units compensation	4,631				3,974				657
Balance at end of period at Jun. 30, 2022	1,521,000	1,988	212	1,572	523,504	(440,444)	1,121,147	(9,116)	322,137
Balance at beginning of period at Mar. 31, 2022	1,617,862	1,960	212	1,572	497,489	(316,708)	1,078,130	(2,975)	358,182
Increase (Decrease) in Stockholders' Equity
Consolidated net income	61,792						48,519		13,273
Foreign currency translation adjustments	(7,279)							(6,141)	(1,138)
Cantor purchase of Cantor units from Newmark Holdings upon redemption/exchange of FPU's	863								863
Dividends to common stockholders	(5,502)						(5,502)
Earnings distributions to limited partnership interests and other noncontrolling interests	(33,861)								(33,861)
Grant of exchangeability, redemption and issuance of Class A common stock	28,356	28			22,785				5,543
Contributions of capital to and from Cantor for equity-based compensation	3,154				2,675				479
Repurchase of Class A common stock	(145,035)					(123,736)			(21,299)
Restricted stock units compensation	650				555				95
Balance at end of period at Jun. 30, 2022	1,521,000	1,988	212	1,572	523,504	(440,444)	1,121,147	(9,116)	322,137
Balance at beginning of period at Dec. 31, 2022	1,524,865	2,011	212	0	584,709	(538,612)	1,145,006	(11,989)	343,528
Increase (Decrease) in Stockholders' Equity
Consolidated net income	(5,120)						(3,921)		(1,199)
Foreign currency translation adjustments	7,951							6,546	1,405
Cantor purchase of Cantor units from Newmark Holdings upon redemption/exchange of FPU's	1,760								1,760
Dividends to common stockholders	(10,441)						(10,441)
Purchase of noncontrolling interests	(21,946)				(3,462)				(18,484)
Earnings distributions to limited partnership interests and other noncontrolling interests	(31,739)								(31,739)
Grant of exchangeability, redemption and issuance of Class A common stock	34,206	42			25,169				8,995
Contributions of capital to and from Cantor for equity-based compensation	(506)				(457)				(49)
Repurchase of Class A common stock	(13,361)					(11,005)			(2,356)
Restricted stock units compensation	9,541				7,888				1,653
Balance at end of period at Jun. 30, 2023	1,495,210	2,053	212	0	613,847	(549,617)	1,130,644	(5,443)	303,514
Balance at beginning of period at Mar. 31, 2023	1,502,841	2,039	212	0	601,150	(538,612)	1,129,441	(8,481)	317,092
Increase (Decrease) in Stockholders' Equity
Consolidated net income	11,229						6,429		4,800
Foreign currency translation adjustments	3,693							3,038	655
Cantor purchase of Cantor units from Newmark Holdings upon redemption/exchange of FPU's	1,760								1,760
Dividends to common stockholders	(5,226)						(5,226)
Earnings distributions to limited partnership interests and other noncontrolling interests	(22,422)								(22,422)
Grant of exchangeability, redemption and issuance of Class A common stock	13,280	14			9,913				3,353
Contributions of capital to and from Cantor for equity-based compensation	(151)				(154)				3
Repurchase of Class A common stock	(13,361)					(11,005)			(2,356)
Restricted stock units compensation	3,567				2,938				629
Balance at end of period at Jun. 30, 2023	$ 1,495,210	$ 2,053	$ 212	$ 0	$ 613,847	$ (549,617)	$ 1,130,644	$ (5,443)	$ 303,514

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
FPU's
Cantor purchase of Cantor units from Newmark Holdings upon redemption/exchange of FPU's (in shares)	422,646		422,646
Cantor | FPU's | Related Party
Cantor purchase of Cantor units from Newmark Holdings upon redemption/exchange of FPU's (in shares)		208,276		208,276
Common Stock
Dividends declared per share of common stock (in dollars per share)	$ 0.03	$ 0.03	$ 0.06	$ 0.06
Dividends declared and paid per share of common stock (in dollars per share)	$ 0.03	$ 0.03	$ 0.06	$ 0.04
Class A Common Stock
Treasury stock repurchases (in shares)	2,354,217	11,370,647	2,354,217	13,053,518
Class A Common Stock | Common Stock
Grant of exchangeability, redemption and issuance of limited partnership interests and issuance of common stock (in shares)	1,446,005	2,715,924	4,204,210	4,783,787
Treasury stock repurchases (in shares)	2,354,217	11,370,647	2,354,217	13,053,518

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$ (5,120)	$ 62,508
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Gains on originated mortgage servicing rights	(31,619)	(71,626)
Depreciation and amortization	80,864	74,400
Provision for credit losses on the financial guarantee liability	2,583	(89)
Provision for doubtful accounts	(1,438)	4,631
Equity-based compensation and allocation of net income to limited partnership units and FPUs	55,258	58,886
Employee loan amortization	50,423	39,565
Deferred tax (benefit) provision	0	(94)
Non-cash changes in acquisition related earn-outs	194	0
Unrealized (gains)/losses on loans held for sale	4,487	(11,827)
Loss (income) from an equity method investment	(8,535)	0
Realized losses on marketable securities	0	7,470
Unrealized losses on marketable securities	478	80,130
Unrealized losses (gains) on non-marketable investments	0	13,945
Change in valuation of derivative asset	0	1,400
Loan originations—loans held for sale	(3,779,074)	(3,811,260)
Loan sales—loans held for sale	2,975,962	4,046,373
Other	4,692	1,297
Consolidated net income (loss), adjusted for non-cash and non-operating items	(650,845)	495,709
Changes in operating assets and liabilities:
Receivables, net	19,679	50,056
Loans, forgivable loans and other receivables from employees and partners	(177,837)	(64,586)
Right-of-use asset	17,941	(24,830)
Receivable from related parties	0	8,262
Other assets	(20,804)	12,711
Accrued compensation	(89,601)	(97,142)
Right-of-use liability	(5,106)	27,800
Accounts payable, accrued expenses and other liabilities	7,580	(65,294)
Payables to related parties	(485)	(3,652)
Net cash provided by (used in) operating activities	(899,478)	339,034
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for acquisitions, net of cash acquired and proceeds from divestitures	(99,885)	(64,247)
Proceeds from the sale of marketable securities	0	437,820
Purchase of non-marketable investments	0	(2,723)
Purchases of fixed assets	(33,634)	(17,529)
Net cash provided by (used in) investing activities	(133,519)	353,321
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from warehouse facilities	3,779,074	3,811,260
Principal payments on warehouse facilities	(2,985,008)	(4,027,371)
Borrowing of debt	225,000	0
Repurchase agreements and securities loaned	0	(140,007)
Treasury stock repurchases	(13,361)	(175,928)
Earnings and tax distributions to limited partnership interests and other noncontrolling interests	(22,532)	(58,712)
Dividends to stockholders	(10,441)	(7,395)
Payments on acquisition earn-outs	(983)	(2,131)
Deferred financing costs	0	(3,409)
Net cash provided by (used in) financing activities	971,749	(603,693)
Net increase (decrease) in cash and cash equivalents and restricted cash	(61,248)	88,662
Cash and cash equivalents and restricted cash at beginning of period	312,952	266,500
Cash and cash equivalents and restricted cash at end of period	251,704	355,162
Cash paid during the period for:
Interest	22,078	20,308
Taxes	38,472	68,488
Supplemental disclosure of non-cash operating, investing and financing activities:
Right-of-use assets and liabilities	$ 62,889	$ 82,019

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Newmark Group, Inc., 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. is a consolidated subsidiary of Newmark for which Newmark is the general partner. Newmark and Newmark Holdings jointly own Newmark Partners, L.P., the operating partnership. Newmark is a leading adviser and service provider to large institutional investors, global corporations, and other owners and occupiers of commercial real estate. Newmark offers a diverse array of integrated services and products designed to meet the full needs of our clients. Newmark’s investor/owner services and products include capital markets, which consists of investment sales and commercial mortgage brokerage (including the placement of debt, equity raising, structured finance, and loan sales on behalf of third parties), agency leasing, valuation and advisory, property management, business rates, due diligence consulting and other advisory services, services related to the GSEs and FHA, including multifamily lending and loan servicing, and flexible workspace solutions for owners. Newmark’s occupier services and products include tenant representation leasing, GCS, which includes real estate, workplace and occupancy strategy, corporate consulting services, project management, lease administration and facilities management, business rates, and flexible workspace solutions for occupiers. 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 sold certain assets of its on-the-run, electronic benchmark U.S. Treasury platform, eSpeed, to 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 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 remaining rights under the Nasdaq Earn-out were transferred to Newmark on September 28, 2017. From September of 2017 through June of 2021, Newmark received 10.2 million shares of Nasdaq. From January of 2018 to March of 2022, Newmark sold 7.6 million shares of Nasdaq and delivered 2.6 million shares of Nasdaq to RBC, and recognized $1,474.2 million of realized gains and dividend income. Subsequent to these transactions, Newmark does not hold any Nasdaq shares. 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 EPUs, respectively, in private transactions to RBC in 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 were 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 was subject to the SPV’s option to settle the postpaid forward contracts as described below. As the EPUs represented equity ownership of a consolidated subsidiary of Newmark, they were included in “Noncontrolling interests” on the accompanying unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of changes in equity. The EPUs were entitled to a preferred payable-in-kind dividend, which was 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 were 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. The SPV was an indirect subsidiary of Newmark whose sole assets were the Nasdaq Earn-out shares for 2019 through 2022. Each of the Nasdaq Forwards provided 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 was to 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 with 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 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 June 30, 2021. 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 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 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, offset a significant percentage of the Company’s taxes related to the Nasdaq Earn-out. 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 were as follows: • 8.3 million and 8.0 million compensatory limited partnership units, respectively, of Newmark Holdings and BGC Holdings held by the Company’s partners who were 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 were 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 share of BGC Class A common stock 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 shares of BGC Class A common stock 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 25 — “Related Party Transactions” for the transactions with the Company’s executive officers in connection with the 2021 Equity Event. Master Repurchase Agreement On August 2, 2021, Newmark OpCo entered into a Master Repurchase Agreement with CF Secured, pursuant to which Newmark could seek, from time-to-time, to execute short-term secured financing transactions. The Company, under this agreement, could seek to sell securities, in this case common shares of Nasdaq, owned by the Company, to CF Secured, and agreed to repurchase those securities on a date certain at a repurchase price generally equal to the original purchase price plus interest. Pursuant to this agreement, as of December 31, 2021 the Company had 866,791 Nasdaq shares pledged in the amount of $182.0 million, against which Newmark received $140.0 million. The $140.0 million amount repaid to CF Secured is included in “Repurchase agreements and securities loaned” on the accompanying unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2022. There were no repurchase agreements and securities loaned in the condensed consolidated statements of cash flows for the six months ended June 30, 2023. (a) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC and in conformity with U.S. GAAP. “Equity-based compensation and allocations of net income to limited partnership units and FPUs” reflects 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 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 FPUs, including the Preferred Distribution (as hereinafter defined). Intercompany balances and transactions within Newmark have been eliminated. Transactions between Cantor and Newmark pursuant to service agreements with Cantor (see Note 25 — “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 with 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 25 — “Related Party Transactions” for an additional discussion of expense allocations). Transfers of cash, both to and from Cantor, as well as amounts due to Newmark from BGC, 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. Opco 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 adjustments (consisting only of 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 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. Newmark adopted the standard on the required effective date beginning January 1, 2022, and it 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. 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 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. During the first quarter of 2022, Newmark elected to apply the practical expedients to modifications of qualifying contracts as continuation of the existing contract rather than as a new contract. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . The standard requires business entities to make annual disclosures about transactions with a government they account for by analogizing to a grant or contribution accounting model. The guidance is aimed at increasing transparency about government assistance transactions that are not in the scope of other U.S. GAAP guidance. The ASU requires disclosure of the nature and significant terms and considerations of the transactions, the accounting policies used and the effects of those transactions on an entity’s financial statements. The new standard became effective for Newmark’s financial statements issued for annual reporting periods beginning on January 1, 2022. The adoption of this guidance did not have an impact on the accompanying unaudited condensed consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The standard improves the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability, as well as payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU requires companies to apply guidance in ASC 606, Revenue from Contracts with Customers , to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination, and, thus, creates an exception to the general recognition and measurement principle in ASC 805, Business Combinations . Newmark adopted the standard on the required effective date beginning January 1, 2023 using a prospective transition method for business combinations occurring on or after the effective date. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The guidance is intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings, and write-offs. The standard eliminates the recognition and measurement guidance on TDRs for creditors that have adopted ASC 326, Financial Instruments — Credit Losses and requires them to make enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. The new guidance also requires public business entities to present current-period gross write-offs (on a current year-to-date basis for interim-period disclosures) by year of origination in their vintage disclosures. Newmark adopted the new standard on the required effective date beginning January 1, 2023. The guidance for recognition and measurement of TDRs was applied using a prospective transition method, and the amendments related to disclosures were applied prospectively. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. (c) New Accounting Pronouncements In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting provided optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU was effective upon issuance and generally could be applied through December 31, 2022. Because the current relief in ASC 848, Reference Rate Reform may not cover a period of time during which a significant number of modifications may take place, the amendments in ASU No. 2022-06 defer the sunset date from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in ASC 848. Management is currently evaluating the impact of the new standard on the accompanying unaudited condensed consolidated financial statements.

Limited Partnership Interests i

Limited Partnership Interests in Newmark Holdings and BGC Holdings	6 Months Ended
	Jun. 30, 2023
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 25 — “Related Party Transactions”). These collectively represented all of the limited partnership interests in BGC Holdings and Newmark Holdings at the time. 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, which was equal to a BGC Holdings limited partnership interest multiplied by one divided by 2.2, divided by 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 June 30, 2023, the Exchange Ratio equaled 0.9235. On November 15, 2022, BGC Group, BGC Partners, and BGC Holdings, and other affiliated entities, entered into a corporate conversion agreement, which was amended as of March 29, 2023, in order to reorganize and simplify the organizational structure of the BGC entities by converting BGC Partners from an “Up-C” to a “Full C-Corporation” through the Corporate Conversion. On July 1, 2023, the Corporate Conversion was completed. As a result of the Corporate Conversion, BGC Group became the public holding company for, and successor to, BGC Partners, and its Class A common stock began trading on Nasdaq, in place of BGC Partners’ Class A common stock, under the ticker symbol “BGC”. Upon completion of the Corporate Conversion, the former stockholders of BGC Partners, Inc. and the former limited partners of BGC Holdings, L.P. now participate in the economics of the BGC businesses through BGC Group, Inc. There are no longer any BGC Holdings units outstanding held by Newmark employees. As a result of a series of transactions prior to and in anticipation of the Corporate Conversion, all BGC Holdings units held by Newmark employees were redeemed or exchanged, in each case, for shares of BGC Class A common stock. Redeemable Partnership Interests Founding/Working Partners have limited partnership interests in Newmark Holdings. As of June 30, 2023, in connection with the Corporate Conversion, all FPUs of BGC Holdings were redeemed or exchanged. 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 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. There is no compensation expense related to FPUs held by BGC employees. Limited Partnership Units Certain employees of Newmark hold limited partnership interests in Newmark Holdings (e.g., REUs, RPUs, PSUs, PSIs, HDUs, and LPUs, collectively the limited partnership units). Prior to the Corporate Conversions, any active employees of Newmark who held limited partnership interests in BGC Holdings had those units redeemed or exchanged for cash or restricted or unrestricted shares of BGC Class A common stock. 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 employees entitle the holders to receive post-termination payments equal to the notional amount of the units in four Certain Newmark employees hold 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. 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 “N Units” that do not participate in quarterly partnership distributions and are not allocated any items of profit or loss. N Units become distribution earning limited partnership units, ratably over a four-year vesting term, if certain revenue thresholds are met at the end of each vesting term. Cantor Units Cantor holds limited partnership interests in Newmark Holdings. 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 were separately convertible by either RBC or Newmark into a fixed number of shares of Newmark 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 represented 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 were entitled to a preferred payable-in-kind dividend, which was 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). As of June 30, 2023 and December 31, 2022, there were no EPUs outstanding. 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 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 June 30, 2023 are exchangeable for 24.9 million shares of Newmark Class B common stock. 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 June 30, 2023, the Exchange Ratio equaled 0.9235. 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	6 Months Ended
	Jun. 30, 2023
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, 2022. There were no significant changes made to Newmark’s significant accounting policies during the three and six months ended June 30, 2023. Revenue Recognition: Management Services, Servicing Fees and Other: Management services revenues include property management, facilities management, project management and valuation and appraisal. Management fees are recognized at the time the related services have been performed, unless future contingencies exist. This also includes revenue from the licensing of flexible workspaces to its customers by Knotel and Deskeo. In addition, in regard to management and facility service contracts, the owner of the property will typically reimburse Newmark for certain expenses that are incurred on behalf of the owner, which comprise primarily on-site employee salaries and related benefit costs. The amounts which are to be reimbursed per the terms of the services contract are recognized as revenue in the same period as the related expenses are incurred. In certain instances, Newmark subcontracts property management services to independent property managers, in which case Newmark passes a portion of its property management fee on to the subcontractor, and Newmark retains the balance. Accordingly, Newmark records these fees gross of the amounts paid to subcontractors, and the amounts paid to subcontractors are recognized as expenses in the same period. Newmark also uses third party service providers in the provision of its services to customers. In instances where a third-party service provider is used, Newmark performs an analysis to determine whether it is acting as a principal or an agent with respect to the services provided. To the extent that Newmark determines that it is acting as a principal, the revenue and the expenses incurred are recorded on a gross basis. In instances where Newmark has determined that it is acting as an agent, the revenue and expenses are presented on a net basis within the revenue line item. In some instances, Newmark performs services for customers and incurs out-of-pocket expenses as part of delivering those services. Newmark’s customers agree to reimburse Newmark for those expenses, and those reimbursements are part of the contract’s transaction price. Consequently, these expenses and the reimbursements of such expenses from the customer are presented on a gross basis because the services giving rise to the out-of-pocket expenses do not transfer a good or service. The reimbursements are included in the transaction price when the costs are incurred, and the reimbursements are due from the customer. Servicing fees are earned for servicing mortgage loans and are recognized on an accrual basis over the lives of the related mortgage loans. Also included in servicing fees are the fees earned on prepayments, interest and placement fees on borrowers’ escrow accounts and other ancillary fees. Other revenues include interest income on warehouse notes receivable. Leasing and Other Commissions : Commissions from real estate lease brokerage transactions are typically recognized at a point in time on the date the lease is signed, if deemed not subject to significant reversal. The date the lease is signed represents the transfer of control and satisfaction of the performance obligation as the tenant has been secured. Commission payments may be due entirely upon lease execution or may be paid in installments upon the resolution of a future contingency (e.g. tenant move-in or payment of first month’s rent). Investment Sales Investment sales revenue from real estate sales brokerage transactions are recognized at the time the service has been provided and the commission becomes legally due, except when future contingencies exist. In most cases, close of escrow or transfer of title is a future contingency, and revenue recognition is deferred until all contingencies are satisfied. Commercial Mortgage Origination, net: Fair value of expected net future cash flows from servicing and loan originations and related fees and sales premiums, net, are recognized when a derivative asset or liability is recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The derivative is recorded at fair value and includes loan origination fees, sales premiums, and the estimated fair value of the expected net servicing cash flows. The revenue is recognized net of related fees and commissions to third-party brokers. Mortgage brokerage and debt placement revenue is earned and recognized when the sale of a property closes, and title passes from seller to buyer. The revenue is generated from the loan origination fees, sales premiums, and the estimated fair value of the expected net servicing cash flows. Goodwill and Other Intangible Assets, Net: Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. As prescribed in the U.S. GAAP guidance, Intangibles—Goodwill and Other , goodwill and other indefinite-lived intangible assets are not amortized, but instead are periodically tested for impairment. The Company reviews goodwill and other indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter of each fiscal year or whenever an event occurs or circumstances change that could reduce the fair value of a reporting unit below its carrying amount. When reviewing goodwill for impairment, Newmark first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Definite-lived intangible assets arising from business combinations include trademark and trade names, non-contractual customers, license agreements, non-compete agreements, and contractual customers. Current Expected Credit Losses: 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 unaudited condensed 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 has adopted ASC 326 which impacted the expected credit loss reserving methodology for the financial guarantee liability provided under the Fannie Mae DUS and Freddie Mac 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. During the three and six months ended June 30, 2023, there was an increase (decrease) in the CECL related provision of $(0.8) million and $0.8 million, respectively. During the three and six months ended June 30, 2022, there was a decrease in the CECL related provision of $0.3 million and $0.1 million, respectively. The balance of the financial guarantee liabilities was $28.5 million and $27.7 million as of June 30, 2023 and December 31, 2022, respectively, and is included in “Other long-term liabilities” on the accompanying unaudited condensed 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 unaudited condensed 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. During the three and six months ended June 30, 2023, there were increases in the CECL related provision of $1.3 million and $1.1 million, respectively. During the three and six months ended June 30, 2022, there was an increase in the CECL related provision of $2.1 million and $4.0 million, respectively. The balance of the reserve was $22.0 million and $20.9 million, respectively, as of June 30, 2023 and December 31, 2022 and is included in “Receivables, net” on the accompanying unaudited condensed 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 of June 30, 2023 and December 31, 2022, the balance of this reserve was $2.2 million and $1.4 million, respectively, and is included in “Loans, forgivable loans and other receivables from employees and partners, net” on the accompanying unaudited condensed 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, and developers. Our services include 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 evaluates the operating results of Newmark regardless of geographic location as total real estate services and allocates resources accordingly. Newmark recognized revenues as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Management services, servicing fees and other $ 240,660 $ 233,685 $ 452,952 $ 466,804 Leasing and other commissions 203,611 212,825 396,917 411,778 Investment sales 77,604 209,053 149,597 361,167 Commercial mortgage origination, net 63,969 99,788 107,177 193,850 Revenues $ 585,844 $ 755,351 $ 1,106,643 $ 1,433,599

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions On March 10, 2023, Newmark completed the acquisition of Gerald Eve, a U.K. based real estate advisory firm. For the six months ended June 30, 2023, 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 acquisitions, and therefore adjustments to assets and liabilities may occur (in thousands): As of the Purchase Price Cash 101,152 Contingent consideration 11,863 Total $ 113,015 Allocations Cash $ 18,616 Goodwill 75,638 Other intangible assets, net 23,472 Receivables, net 30,995 Fixed Assets, net 6,279 Other assets 1,829 Right-of-use assets 19,472 Right-of-use liabilities (20,925) Accrued compensation (22,075) Accounts payable, accrued expenses and other liabilities (20,286) Total $ 113,015 The total consideration for the acquisition during the six months ended June 30, 2023, was $113.0 million in total fair value comprising cash of $101.2 million and contingent consideration of $11.9 million. The excess of the consideration over the fair value of the net assets acquired was recorded as goodwill of $75.6 million, of which approximately $54.8 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 acquisitions have been included on the accompanying unaudited condensed consolidated financial statements subsequent to the respective dates of acquisition, which in aggregate contributed $33.4 million to Newmark’s revenues for the six months ended June 30, 2023. On April 1, 2022, Newmark completed the acquisitions of two companies: BH2, a London-based real estate advisory firm, and McCall & Almy, a multi-market tenant representation and real estate advisory firm. On May 3, 2022, Newmark completed the acquisition of Open Realty Advisors and Open Realty Properties, which together operate as “Open Realty,” a retail real estate advisory firm. The following table summarizes the components of the purchase consideration transferred, and the of the assets acquired, and liabilities assumed, for the acquisitions which occurred in 2022: As of the Purchase Price Contingent consideration 7,322 Cash and stock issued at closing 65,533 Total $ 72,855 Allocations Cash $ 1,286 Goodwill 50,756 Other intangible assets, net 19,633 Receivables, net 3,625 Other assets 290 Right-of-use Assets 4,305 Right-of-use Liabilities (4,305) Accrued Compensation (2,175) Accounts payable, accrued expenses and other liabilities (560) Total $ 72,855 The total consideration for the acquisitions during the year ended December 31, 2022, was $72.9 million in total fair value comprising cash of $65.5 million and contingent consideration of $7.3 million. The excess of the consideration over the fair value of the net assets acquired was recorded as goodwill of $50.8 million, of which approximately $35.1 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 respective dates of acquisition, which in aggregate contributed $17.8 million to Newmark’s revenues for the year ended December 31, 2022.

Earnings Per Share and Weighted

Earnings Per Share and Weighted-Average Shares Outstanding	6 Months Ended
	Jun. 30, 2023
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. 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 were entitled to a preferred payable-in-kind dividend which is recorded as accretion to the carrying amount of the EPUs and was 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic earnings per share: Net income available to common stockholders $ 6,429 $ 48,519 $ (3,921) $ 48,881 Basic weighted-average shares of common stock outstanding 173,939 183,948 173,254 186,401 Basic earnings per share $ 0.04 $ 0.26 $ (0.02) $ 0.26 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fully diluted earnings per share: Net income available to common stockholders $ 6,429 $ 48,519 $ (3,921) $ 48,881 Allocations of net income to limited partnership interests in Newmark Holdings, net of tax 2,421 14,860 — 14,567 Net income for fully diluted shares $ 8,850 $ 63,379 $ (3,921) $ 63,448 Weighted-average shares: Common stock outstanding 173,939 183,948 173,254 186,401 Partnership units (1) 69,633 58,917 — 57,576 RSUs (Treasury stock method) 879 3,067 — 4,475 Newmark exchange shares 503 2,053 — 2,006 Fully diluted weighted-average shares of common stock outstanding 244,954 247,985 173,254 250,458 Fully diluted earnings per share $ 0.04 $ 0.26 $ (0.02) $ 0.25 (1) Partnership units collectively include FPUs, limited partnership units, and Cantor Units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information). For the three and six months ended June 30, 2023, 5.8 million and 74.1 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 six months ended June 30, 2022, 0.6 million and 0.8 million potentially dilutive securities, respectively, were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive.

Stock Transactions and Unit Red

Stock Transactions and Unit Redemptions	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stock Transactions and Unit Redemptions	Stock Transactions and Unit Redemptions As of June 30, 2023, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Shares outstanding at beginning of period 153,142,810 168,557,363 150,384,605 168,272,371 Share issuances: LPU redemption/exchange (1) 1,158,346 2,395,043 3,086,251 3,329,911 Issuance of Class A common stock for Newmark RSUs 286,608 369,567 1,272,148 1,389,041 Other 1,051 51,314 (154,189) 64,835 Treasury stock repurchases (2,354,217) (11,370,647) (2,354,217) (13,053,518) Shares outstanding at end of period 152,234,598 160,002,640 152,234,598 160,002,640 (1) Because they were included in 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. 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 June 30, 2023 and December 31, 2022, 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. On February 10, 2022, the Board and Audit Committee reauthorized the $400.0 million Newmark share repurchase and unit redemption authorization, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities. On November 4, 2022, the Board and Audit Committee reauthorized the $400.0 million Newmark share repurchase and unit redemption authorization, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities. From time to time, Newmark may actively continue to repurchase shares and/or purchase units. During the three and six months ended June 30, 2023, Newmark repurchased 2.4 million shares of Class A common stock at an average price of $5.68. As of June 30, 2023, Newmark had $378.9 million remaining from its share repurchase and unit purchase authorization. The following table details Newmark’s share repurchases for cash under the current program. The gross share repurchases of Newmark’s Class A common stock during the six months ended June 30, 2023 were as follows (in thousands except shares and per share amounts): Total Average Approximate Repurchases January 1, 2023 - March 31, 2023 — — April 2023 674 $ 7.08 May 2023 2,315,213 $ 5.67 June 2023 38,330 $ 5.75 Total Repurchases 2,354,217 $ 5.68 $ 378,900 Redeemable Partnership Interests The changes in the carrying amount of FPUs follow (in thousands): June 30, 2023 December 31, 2022 Balance at beginning of period: $ 16,550 $ 20,947 Income allocation — 2,272 Distributions of income (380) (5,130) Issuance and other (1,103) (1,539) Balance at end of period $ 15,067 $ 16,550

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2023
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 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 the years ended December 31, 2017 through 2020. 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 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 closing 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 30, 2021 included in “Other (loss) income, net” for the three months ended June 30, 2021 . 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. During the six months ended June 30, 2023, Newmark had no remaining Nasdaq shares. During the three months ended March 31, 2022, Newmark sold all of its remaining 2,497,831 Nasdaq shares. The gross proceeds of the Nasdaq shares sold was $437.8 million for the six months ended June 30, 2022. Newmark has no realized or unrealized gains (losses) on the mark-to-market of these securities for the six months ended June 30, 2023. Newmark recorded realized losses on these securities of $7.5 million for the six months ended June 30, 2022. Newmark recorded unrealized losses on these securities of $80.1 million for the six months ended June 30, 2022. 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 June 30, 2023 and December 31, 2022, Newmark had $0.3 million and $0.8 million, respectively, of marketable securities in public entities included in “Marketable securities” on the accompanying unaudited condensed consolidated balance sheets. Newmark did not recognize any realized gains (losses) on the mark-to-market of marketable securities in public entities for the three and six months ended June 30, 2023 and 2022 . Newmark recorded unrealized losses on the mark-to-market of marketable securities in public entities of $0.1 million and $0.5 million for the three and six months ended June 30, 2023, respectively, and Newmark did not record any gains (losses) on the mark-to-market of marketable securities for the three and six months ended June 30, 2022, respectively. 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.

Investments

Investments	6 Months Ended
	Jun. 30, 2023
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 income (loss) of $5.0 million and $0.0 million for the three months ended June 30, 2023 and 2022, respectively, and $8.5 million and $0.0 million for the six months ended June 30, 2023 and 2022, respectively. Equity (loss) income is included in “Other income, net” on the accompanying unaudited condensed consolidated statements of operations. The carrying value of this investment was $99.8 million and $91.3 million as of June 30, 2023 and December 31, 2022, respectively, included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets. On July 20, 2022, Newmark exercised its redemption option and expected to receive approximately $88.4 million from Cantor. In December 2022, the Audit Committee authorized a subsidiary of Newmark to rescind its July 20, 2022 written notice exercising the optional redemption of its 27.2% ownership interest in Real Estate LP and amended the joint venture agreement between Newmark and Real Estate LP to provide for a redemption option for this investment after July 1, 2023, with proceeds to be received within 20 days of the redemption notice. A payment of a $44.0 thousand administrative fee was made to Newmark in connection with such amendment. On July 1, 2023, Newmark exercised its redemption option and received payment of $104.7 million from Cantor in July of 2023, terminating Newmark’s interest in Real Estate LP. 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. For the three and six months ended June 30, 2023, Newmark recorded unrealized losses related to these investments of $1.0 million and $1.0 million, respectively. For the three and six months ended June 30, 2022, Newmark recorded unrealized losses related to these investments of $15.5 million and $13.9 million, respectively. Newmark did not recognize any realized gains (losses) related to these investments for the three and six months ended June 30, 2023. For the three and six months ended June 30, 2022, Newmark recorded realized gains related to these investments of $0.0 million and $1.6 million, respectively. The changes in value are included as a part of “Other income (loss), net” on the accompanying unaudited condensed consolidated statements of operations. Additionally, the Company did not make any new investments during the three and six months ended June 30, 2023. For the three and six months ended June 30, 2022, the Company invested $0.3 million and $2.7 million, respectively. The carrying values of these investments were $7.7 million and $8.7 million as of June 30, 2023 and December 31, 2022, respectively, and are included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets.

Capital and Liquidity Requireme

Capital and Liquidity Requirements	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and December 31, 2022, Newmark had met all capital requirements. As of June 30, 2023 and December 31, 2022, the most restrictive capital requirement was the net worth requirement of Fannie Mae. Newmark exceeded the minimum requirement by $433.9 million and $433.4 million, respectively, as of June 30, 2023 and December 31, 2022. Certain of Newmark’s agreements with Fannie Mae allow Newmark to originate and service loans under the Fannie Mae 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 Freddie Mac allow Newmark to service loans under the Freddie Mac TAH. These agreements require Newmark to pledge sufficient collateral to meet Freddie Mac’s liquidity requirement o f 8% o f the outstanding principal of Freddie Mac TAH loans serviced by Newmark. Management believes that, as of June 30, 2023 and December 31, 2022, Newmark had met all liquidity requirements. In addition, as a servicer for Fannie Mae, Ginnie Mae and FHA, Newmark is required to advance to investors any uncollected principal and interest due from borrowers. Outstanding borrower advances were $0.8 million and $1.3 million as of June 30, 2023 and December 31, 2022, 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	6 Months Ended
	Jun. 30, 2023
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 19 — “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): June 30, 2023 December 31, 2022 Cost Basis $ 941,457 $ 137,633 Fair Value 936,970 138,345 As of June 30, 2023 and December 31, 2022, 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 June 30, 2023 and December 31, 2022, there we re no lo ans 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 “Commercial mortgage origination, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest income on loans held for sale $ 10,135 $ 5,162 $ 12,273 $ 10,106 Gains (losses) recognized on change in fair value on loans held for sale (10,675) 10,862 (4,487) 11,827

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2023
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 had previously 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): June 30, 2023 December 31, 2022 Derivative contract Assets Liabilities Notional Amounts (1) Assets Liabilities Notional Amounts (1) Rate lock commitments $ 2,092 $ 2,749 $ 92,367 $ 3,181 $ 8,754 $ 140,697 Forward sale contracts 20,485 72 1,033,824 11,139 624 278,331 Total $ 22,577 $ 2,821 $ 1,126,191 $ 14,320 $ 9,378 $ 419,028 (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 “Commercial mortgage origination, net” on the accompanying unaudited condensed consolidated statements of operations. The change in fair value of rate lock commitments are disclosed net of $(1.2) million and $(1.1) million of expenses for the three months ended June 30, 2023 and 2022, respectively, and $0.6 million and $0.2 million of expenses for the six months ended June 30, 2023 and 2022, 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 gains (losses) recognized in income for derivatives Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Derivatives not designed as hedging instruments: Rate lock commitments Commercial mortgage origination, net (7,167) (2,198) (100) (5,167) Rate lock commitments Compensation and employee benefits 1,238 1,123 (558) (224) Forward sale contracts Commercial mortgage origination, net 18,718 (11,992) 20,414 9,524 Total $ 12,789 $ (13,067) $ 19,756 $ 4,133 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.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues from contracts with customers: Leasing and other commissions $ 203,611 $ 212,825 396,917 $ 411,778 Investment sales 77,604 209,053 149,597 361,167 Mortgage brokerage and debt placement 19,330 50,326 36,476 96,615 Management services 178,161 181,329 340,265 366,389 Total 478,706 653,533 923,255 1,235,949 Other sources of revenue (1) : Fair value of expected net future cash flows from servicing recognized at commitment, net 23,046 31,499 37,145 60,971 Loan originations related fees and sales premiums, net 21,593 17,963 33,556 36,264 Servicing fees and other 62,499 52,356 112,687 100,415 Total $ 585,844 $ 755,351 $ 1,106,643 $ 1,433,599 (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 services (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 is recorded as a contract liability. Deferred revenue at June 30, 2023 and December 31, 2022 was $2.5 million and $2.9 million, respectively. For the three and six months ended June 30, 2023, Newmark recognized revenue of $1.5 million and $3.0 million, respectively, that was recorded as deferred revenue in a previous period. For the three and six months ended June 30, 2022, Newmark recognized revenue of $0.9 million and $1.8 million, respectively, that was recorded as deferred revenue in a previous period. For Knotel and Deskeo, the Company’s remaining performance obligations that represent contracted customer revenues, that have not yet been recognized as revenue as of June 30, 2023, that will be recognized as revenue in future periods over the life of the customer contracts, in accordance with ASC 606, are approximately $165.4 million. Over half of the remaining performance obligation as of June 30, 2023 is scheduled to be recognized as revenue within the next twelve months, with the remaining to be recognized over the remaining life of the customer contracts, which extends through 2030. Approximate future cash flows to be received over the next five years as of June 30, 2023 are as follows (in thousands): 2023 $ 56,753 2024 60,550 2025 30,067 2026 9,595 2027 4,918 Thereafter 3,520 Total $ 165,403

Commercial Mortgage Origination

Commercial Mortgage Origination, Net	6 Months Ended
	Jun. 30, 2023
Mortgage Banking [Abstract]
Commercial Mortgage Origination, Net	Commercial Mortgage Origination, NetCommercial mortgage origination, net consists of the following activity (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fair value of expected net future cash flows from servicing recognized at commitment, net $ 23,046 $ 31,499 $ 37,145 $ 60,971 Loan originations related fees and sales premiums, net 21,593 17,963 33,556 36,264 Mortgage brokerage and debt placement 19,330 50,326 36,476 96,615 Total $ 63,969 $ 99,788 $ 107,177 $ 193,850

Mortgage Servicing Rights, Net

Mortgage Servicing Rights, Net	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, Mortgage Servicing Rights 2023 2022 2023 2022 Beginning Balance $ 556,916 $ 571,581 $ 576,428 $ 563,488 Additions 22,654 35,426 31,619 71,626 Amortization (29,007) (29,059) (57,484) (57,166) Ending Balance $ 550,563 $ 577,948 $ 550,563 $ 577,948 Valuation Allowance Beginning Balance $ (6,375) $ (11,986) $ (7,876) $ (13,186) Decrease 343 2,718 1,844 3,918 Ending Balance $ (6,032) $ (9,268) $ (6,032) $ (9,268) Net Balance $ 544,531 $ 568,680 $ 544,531 $ 568,680 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Servicing fees $ 37,711 $ 37,089 $ 74,617 $ 73,034 Escrow interest and placement fees 12,657 2,389 22,748 3,406 Ancillary fees 1,829 7,482 2,760 13,156 Total $ 52,197 $ 46,960 $ 100,125 $ 89,596 Newmark’s primary servicing portfolio as of June 30, 2023 and December 31, 2022 was $69.3 billion and $69.0 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 loan assumptions), the administration of the loan is transferred to Newmark. Newmark’s special servicing portfolio was $1.7 billion and $1.7 billion at June 30, 2023 and December 31, 2022, respectively. The estimated fair value of the MSRs as of June 30, 2023 and December 31, 2022 was $658.1 million and $667.6 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.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 657,131 Acquisitions 50,756 Measurement period and currency translation adjustments (1,993) Balance, December 31, 2022 705,894 Acquisitions 75,638 Divestiture (9,222) Measurement period and currency translation adjustments 3,545 Balance, June 30, 2023 $ 775,855 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, 2022, which did not result in a goodwill impairment (see Note 4 — “Acquisitions” for more information). During the six months ended June 30, 2023, the Company sold a previous acquisition and wrote off $9.2 million of goodwill. Other intangible assets consisted of the following (in thousands, except weighted-average life): June 30, 2023 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 16,360 (9,283) 7,077 2.4 Non-contractual customers 30,131 (16,066) 14,065 8.3 Non-compete agreements 12,523 (5,949) 6,574 4.5 Contractual customers 60,572 (14,535) 46,037 4.0 Other 4,551 (2,525) 2,026 11.4 Total $ 140,877 $ (48,358) $ 92,519 4.7 December 31, 2022 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 12,893 (8,103) 4,790 2.4 Non-contractual customers 30,131 (14,995) 15,136 8.6 License agreements 4,981 (4,981) — — Non-compete agreements 9,557 (5,113) 4,444 3.1 Contractual customers 48,257 (10,690) 37,567 5.7 Other 4,551 (2,260) 2,291 12.4 Total $ 127,110 $ (46,142) $ 80,968 5.9 Intangible amortization expense for the three months ended June 30, 2023 and 2022 was $4.6 million and $4.8 million, respectively, and $8.0 million and $7.4 million for the six months ended June 30, 2023 and 2022, 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 June 30, 2023 was as follows (in thousands): 2023 $ 9,121 2024 17,798 2025 16,363 2026 12,820 2027 8,826 Thereafter 10,851 Total $ 75,779

Fixed Assets, Net

Fixed Assets, Net	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Fixed Assets, Net	Fixed Assets, Net Fixed assets, net consisted of the following (in thousands): June 30, 2023 December 31, 2022 Leasehold improvements, furniture and fixtures, and other fixed assets $ 233,645 $ 207,020 Software, including software development costs 53,394 48,112 Computer and communications equipment 32,182 31,586 Total, cost 319,221 286,718 Accumulated depreciation and amortization (142,407) (131,079) Total, net $ 176,814 $ 155,639 Depreciation expense for the three months ended June 30, 2023 and 2022 was $9.6 million and $8.5 million, respectively, and $18.7 million and $15.2 million for the six months ended June 30, 2023 and 2022, respectively. Newmark recorded an impairment charge of $0.5 million and $1.4 million for the three and six months ended June 30, 2023, respectively. Newmark did not record an impairment for the three and six months ended June 30, 2022, respectively. The impairment charge is included as a part of “ Depreciation and amortization Capitalized software development costs for the three months ended June 30, 2023 and 2022 were $3.4 million and $0.7 million, respectively, and $6.3 million and $1.1 million for the six months ended June 30, 2023 and 2022, respectively. Amortization of software development costs totaled $0.7 million and $0.4 million for the three months ended June 30, 2023 and 2022, respectively, and $1.3 million and $0.7 million for the six months ended June 30, 2023 and 2022, 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	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases Newmark has operating leases for real estate and equipment. These leases have remaining lease terms ranging from 1 to 11 years, some of which include options to extend the leases in 1 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 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 June 30, 2023. 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. Total lease liability as of June 30, 2023 is $739.8 million. Of the total amount, $196.6 million of lease liability is within our flexible workspace business whereby the liability is in consolidated SPVs with only $36.6 million of guarantees and/or letters of credit with exposure to Newmark. In addition, Newmark has contracted future customer revenues and sub-lease income as of June 30, 2023 amounting to approximately $176.2 million. Total lease liability as of December 31, 2022 is $723.9 million. Of the total amount, $188.0 million of lease liability is within our flexible workspace business whereby the liability is in consolidated SPVs with only $36.5 million of guarantees and/or letters of credit with exposure to Newmark. In addition, Newmark has contracted future customer revenues and sub-lease income as of December 31, 2022 amounting to approximately $183.7 million. Operating lease costs were $34.3 million and $31.3 million for the three months ended June 30, 2023 and 2022, respectively, and $68.4 million and $56.7 million for the six months ended June 30, 2023 and 2022, respectively, and are included in “Operating, administrative and other” on the accompanying unaudited condensed consolidated statements of operations. Operating cash flows for the six months ended June 30, 2023 and 2022 included payments of $61.4 million and $52.9 million for operating lease liabilities, respectively. As of June 30, 2023 and December 31, 2022, Newmark did not have any leases that have not yet commenced but that create significant rights and obligations. For the three months ended June 30, 2023 and 2022, Newmark had short-term lease expense of $0.2 million and $0.3 million, respectively. For the six months ended June 30, 2023 and 2022, Newmark had short-term lease expense of $0.3 million and $0.1 million, respectively. For the three months ended June 30, 2023 and 2022, Newmark had sublease income of $0.8 million and $0.2 million, respectively. For the six months ended June 30, 2023 and 2022, Newmark had sublease income of $1.5 million and $0.2 million, respectively. For the three and six months ended June 30, 2023 and 2022, Newmark did not recognize any lease impairment charge. The weighted-average discount rate as of June 30, 2023 and December 31, 2022 was 4.73% and 4.61%, respectively, and the remaining weighted-average lease term was 6.8 years and 7.0 years, respectively. As of June 30, 2023 and December 31, 2022, Newmark had operating lease Right-of-use assets of $640.1 million and $638.6 million, respectively, and operating lease Right-of-use liabilities of $101.4 million and $96.9 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 June 30, 2023 and 2022, was $41.0 million and $35.4 million, respectively, and $80.5 million and $72.1 million for the six months ended June 30, 2023 and 2022, 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 2034. 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, net of payments to be received under a sublease, were as follows (in thousands): June 30, 2023 December 31, 2022 2023 $ 64,944 $ 125,633 2024 133,277 127,996 2025 132,291 126,234 2026 127,263 121,596 2027 118,338 110,997 Thereafter 300,991 242,185 Total lease payments 877,104 854,641 Less: Interest 148,149 141,792 Present value of lease liability $ 728,955 $ 712,849

Other Current Assets and Other

Other Current Assets and Other Assets	6 Months Ended
	Jun. 30, 2023
Other Assets [Abstract]
Other Current Assets and Other Assets	Other Current Assets and Other Assets Other current assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Derivative assets $ 22,577 $ 14,320 Equity method investment 99,815 — Prepaid expenses 51,555 40,393 Other taxes 22,536 21,988 Rent and other deposits 21,514 19,284 Other 1,122 4,203 Total $ 219,119 $ 100,188 Other assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Deferred tax assets $ 94,595 $ 94,689 Equity method investment — 91,280 Non-marketable investments 7,691 8,688 Other tax receivables 5,280 6,683 Other 22,497 12,926 Total $ 130,063 $ 214,266

Warehouse Facilities Collateral

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises	6 Months Ended
	Jun. 30, 2023
Broker-Dealer [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 our wholly-owned subsidiary, Berkeley Point Capital, LLC. Newmark had the following lines available and borrowings outstanding (in thousands): Committed Uncommitted Balance at June 30, 2023 Balance at December 31, 2022 Stated Spread Rate Type Warehouse facility due June 12, 2024 (1) $ 450,000 $ — $ — $ — 145 bps Variable Warehouse facility due June 12, 2024 (1) — 300,000 — — 145 bps Variable Warehouse facility due September 25, 2023 300,000 — 204,021 35,292 130 bps Variable Warehouse facility due September 25, 2023 — 100,000 — — 130 bps Variable Warehouse facility due October 6, 2023 800,000 — 719,451 102,114 130 bps Variable Fannie Mae repurchase agreement, open maturity — 400,000 8,000 — 115 bps Variable Total $ 1,550,000 $ 800,000 $ 931,472 $ 137,406 (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 SOFR plus 180 bps. There wer e no outstanding draws under this sublimit as of June 30, 2023 and December 31, 2022. 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 June 30, 2023 and December 31, 2022, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following (in thousands): June 30, 2023 December 31, 2022 6.125% Senior Notes $ 549,088 $ 547,784 Credit Facility 225,000 — Total $ 774,088 $ 547,784 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 November 15, 2023. 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. 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): June 30, 2023 December 31, 2022 Principal balance $ 550,000 $ 550,000 Less: debt issue cost 478 1,120 Less: debt discount 434 1,096 Total $ 549,088 $ 547,784 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, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest expense $ 8,422 $ 8,735 $ 16,844 $ 17,464 Debt issue cost amortization 321 321 642 642 Debt discount amortization 333 313 661 621 Total $ 9,076 $ 9,369 $ 18,147 $ 18,727 Debt Repurchase Program On June 16, 2020, the Board and 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 June 30, 2023, Newmark had $50.0 million remaining under its debt repurchase authorization. Credit Facility On November 28, 2018, Newmark entered into the 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 provided for a $250.0 million three-year unsecured senior revolving 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 was 2.0% with respect to LIBOR borrowings and could range from 1.25% to 2.25% in (a) above and was 1.00% with respect to base rate borrowings and could range from 0.25% to 1.25% in (b) above, depending upon Newmark’s credit rating. The Credit Facility also provided 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 and extending the maturity date to February 26, 2023. The annual interest rate on the Credit Facility was reduced to LIBOR plus 1.75%, subject to a pricing grid linked to Newmark’s credit ratings from S&P Global Ratings and Fitch. On March 16, 2020, Newmark entered into a second amendment to the Credit Agreement, increasing the size of the Credit Facility to $465.0 million. The annual interest rate on the Credit Facility was LIBOR plus 1.75%, subject to a pricing grid linked to Newmark’s credit ratings from S&P Global Ratings and Fitch. In July 2021, Newmark paid the $140.0 million outstanding on the Credit Facility. On March 10, 2022, Newmark amended and restated the Credit Agreement, as amended. Pursuant to the amended and restated Credit Agreement, the lenders agreed to: (a) increase the amount available to the Company under the Credit Facility to $600.0 million, (b) extend the maturity date of the Credit Facility to March 10, 2025, and (c) improve pricing to 1.50% per annum with respect to Term SOFR (as defined in the amended and restated Credit Agreement) borrowings. As of June 30, 2023, borrowings under the Credit Facility carried an interest rate of 6.77%, with a weighted-average interest rate of 5.04% for the six months ended June 30, 2023 . As of June 30, 2023, there were $225.0 million of borrowings under the Credit Facility. On July 20, 2023, Newmark repaid $100.0 million of the outstanding balance of the Credit Facility. There were no borrowings under the Credit Facility as of December 31, 2022 or during the six months ended June 30, 2022. 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, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest expense $ 4,018 $ — $ 5,277 $ — Debt issue cost amortization 264 — 711 — Unused facility fee 182 334 452 634 Total $ 4,464 $ 334 $ 6,440 $ 634 On November 30, 2018, Newmark entered into the Cantor Credit Agreement (see Note 25 — “Related Party Transactions” for a more detailed discussion).

Financial Guarantee Liability

Financial Guarantee Liability	6 Months Ended
	Jun. 30, 2023
Guarantees [Abstract]
Financial Guarantee Liability	Financial Guarantee Liability Newmark shares risk of loss for loans originated under the Fannie Mae DUS and Freddie Mac 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 contingent liability to the extent of actual losses incurred is approximately 33% of the outstanding principal balance on Fannie Mae DUS or Freddie Mac 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 June 30, 2023, the credit risk loans being serviced by Newmark on behalf of Fannie Mae and Freddie Mac had outstanding principal balances of $28.2 billion with a maximum potential loss of approximately $8.6 billion. At December 31, 2022, the credit risk loans being serviced by Newmark on behalf of Fannie Mae and Freddie Mac had outstanding principal balances of approximately $27.6 billion with a maximum potential loss of approximately $8.4 billion. 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 of economic conditions and local market performance. During the three and six months ended June 30, 2023, there were changes in the provision for expected credit losses of $(0.2) million and $2.6 million, respectively. For the three and six months ended June 30, 2022, there were changes in the provision for expected credit losses of $0.3 million and $0.1 million, respectively. A loan is considered to be delinquent once it is 60 days past due. As of June 30, 2023, there was one delinquent loan that had an outstanding principal balance of $7.3 million, with a maximum loss exposure of $2.4 million. Proceeds from the liquidation of the asset is estimated to be approximately $7.5 million based on current estimate of fair value. Newmark’s share of the loss would approximate $0.5 million. During the six months ended June 30, 2023, Newmark settled the loss on one credit risk loan for $1.2 million that was in foreclosure as of December 31, 2022 and wrote off $0.6 million of servicing advances. As of December 31, 2022, there was one loan in foreclosure that had an outstanding principal balance of $22.8 million, with a maximum loss exposure of $7.6 million. Proceeds from the liquidation of the asset is estimated to be approximately $20.0 million based on current estimate of fair value at December 31, 2022. Newmark's share of the loss would approximate $1.5 million. As of December 31, 2022, there was one delinquent loan that had an outstanding principal balance of $7.3 million, with a maximum loss exposure of $2.4 million. Proceeds from the liquidation of the asset is estimated to be approximately $4.2 million based on current estimate of fair value. Newmark’s share of the loss would approximate $1.1 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, 2022 $ 25,989 Provision for expected credit losses 1,740 Balance, December 31, 2022 27,729 Provision for expected credit losses 2,583 Credit loss settlement (1,812) Balance, June 30, 2023 $ 28,500

Concentrations of Credit Risk

Concentrations of Credit Risk	6 Months Ended
	Jun. 30, 2023
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 21 — “Financial Guarantee Liability”). As of June 30, 2023, 20% and 12% of $8.6 billion of the maximum loss was for properties located in California and Texas, respectively. As of December 31, 2022, 20% and 11% of $8.4 billion of the maximum loss was for properties located in California and Texas, respectively.

Escrow and Custodial Funds

Escrow and Custodial Funds	6 Months Ended
	Jun. 30, 2023
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 $1.4 billion and $1.0 billion, as of June 30, 2023 and December 31, 2022, 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	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 310 $ — $ — $ 310 Loans held for sale, at fair value — 936,970 — 936,970 Rate lock commitments — — 2,092 2,092 Forward sale contracts — — 20,485 20,485 Total $ 310 $ 936,970 $ 22,577 $ 959,857 Liabilities: Contingent consideration — — 20,703 20,703 Rate lock commitments — — 2,749 2,749 Forward sale contracts — — 72 72 Total $ — $ — $ 23,524 $ 23,524 As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 788 $ — $ — $ 788 Loans held for sale, at fair value — 138,345 — 138,345 Rate lock commitments — — 3,181 3,181 Forward sale contracts — — 11,139 11,139 Total $ 788 $ 138,345 $ 14,320 $ 153,453 Liabilities: Contingent consideration $ — $ — $ 8,343 $ 8,343 Rate lock commitments — — 8,754 8,754 Forwards sale contracts — — 624 624 Total $ — $ — $ 17,721 $ 17,721 There were no transfers among Level 1, Level 2 and Level 3 for the three and six months ended June 30, 2023 and 2022, respectively. Level 3 Financial Assets and Liabilities: Changes in Level 3 rate lock commitments, forward sale contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands): As of June 30, 2023 Opening Total realized Additions Settlements Closing Unrealized Assets: Rate lock commitments $ 3,181 $ 2,092 $ — $ (3,181) $ 2,092 $ 2,092 Forward sale contracts 11,139 20,485 — (11,139) 20,485 20,485 Total $ 14,320 $ 22,577 $ — $ (14,320) $ 22,577 $ 22,577 Opening Total realized Additions Settlements Closing Unrealized Liabilities: Contingent consideration $ 8,343 $ 1,154 $ 12,189 $ (983) $ 20,703 $ 1,154 Rate lock commitments 8,754 2,749 — (8,754) 2,749 2,749 Forward sale contracts 624 72 — (624) 72 72 Total $ 17,721 $ 3,975 $ 12,189 $ (10,361) $ 23,524 $ 3,975 As of December 31, 2022 Opening Total realized Additions Settlements Closing Unrealized Assets: Rate lock commitments $ 3,957 $ 3,181 $ — $ (3,957) $ 3,181 $ 3,181 Forward sale contracts 4,544 11,139 — (4,544) 11,139 11,139 Total $ 8,501 $ 14,320 $ — $ (8,501) $ 14,320 $ 14,320 Opening Total realized Additions Settlements Closing Unrealized Liabilities: Contingent consideration $ 12,338 $ (1,893) $ 6,226 $ (8,328) $ 8,343 $ (1,893) Rate lock commitments 2,836 8,754 — (2,836) 8,754 8,754 Forward sale contracts 2,180 624 — (2,180) 624 624 Total $ 17,354 $ 7,485 $ 6,226 $ (13,344) $ 17,721 $ 7,485 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: June 30, 2023 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 20,703 Discount rate 4.0% - 11.8% (1) 4.2% Probability of meeting earnout and contingencies 75.0% - 100.0% (1) 99.5% Derivative assets and liabilities: Forward sale contracts $ 20,485 $ 72 Counterparty credit risk N/A N/A Rate lock commitments $ 2,092 $ 2,749 Counterparty credit risk N/A N/A December 31, 2022 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 8,343 Discount rate 4.0% - 11.8% (1) 5.1% Probability of meeting earnout and contingencies 75.0% - 100.0% (1) 98.9% Derivative assets and liabilities: Forward sale contracts $ 11,139 $ 624 Counterparty credit risk N/A N/A Rate lock commitments $ 3,181 $ 8,754 Counterparty credit risk N/A N/A (1) Newmark’s estimate of contingent consideration as of June 30, 2023 and December 31, 2022 was based on the acquired business’ projected future financial performance, including revenues. 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 or 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 fair value of Newmark’s contingent consideration is based on the discount rate of the Company's calculated-average cost of capital, as well as the probability of acquirees meeting earnout targets. 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 probability of meeting earnout and contingencies. Significant increases (decreases) in the discount rate would have resulted in a significantly lower (higher) fair value measurement. Significant increases (decreases) in the probability of meeting earnout and contingencies would have resulted in a significantly higher (lower) fair value measurement. As of June 30, 2023 and December 31, 2022, the present value of expected payments related to Newmark’s contingent consideration was $20.7 million and $8.3 million, respectively (see Note 29 — “Commitments and Contingencies”). As of June 30, 2023 and December 31, 2022, the undiscounted value of the payments, assuming that all contingencies are met, would be $39.4 million and $30.9 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 $7.7 million and $8.7 million, which was included in “Other assets” on the accompanying unaudited condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022, 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	6 Months Ended
	Jun. 30, 2023
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 $6.8 million and $6.7 million for the three months ended June 30, 2023 and 2022, respectively, and $14.6 million and $13.6 million for the six months ended June 30, 2023 and 2022, 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 June 30, 2023 and December 31, 2022, the aggregate balance of employee loans was $628.3 million and $500.8 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 June 30, 2023 and 2022 was $25.0 million and $20.7 million, respectively, and $50.4 million and $39.6 million for the six months ended June 30, 2023 and 2022, 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. Other Related Party Transactions In February 2019, the 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, Newmark entered into an arrangement to assist View in the sale of its products and services to real estate clients in exchange for commissions. View 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 Newmark as its exclusive provider of real estate services for a period of at least five years. While View is not under common control with Newmark, 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 Cantor Commercial Real Estate, L.P. Newmark 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 during the three and six months ended June 30, 2023 and 2022. Newmark did not recognize revenue for the three and six months ended June 30, 2023 and 2022, respectively, in connection with this revenue-share agreement. 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 six months ended June 30, 2023 and 2022, respectively. Such revenues are recognized in “Commercial mortgage origination, 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 three and six months ended June 30, 2023 and 2022. 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 $0.7 million, and $0.9 million for the three months ended June 30, 2023 and 2022, respectively, and $1.5 million and $1.8 million for the six months ended June 30, 2023 and 2022, respectively, which were included as part of “Management services, servicing fee and other” on the accompanying unaudited condensed consolidated statements of operations. On July 22, 2019, CCRE Lending made a $146.6 million commercial real estate loan to a single-purpose company in which Barry Gosin, Newmark’s Chief Executive Officer, owns a 19% interest. This loan is secured by the single-purpose company’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%. This loan matures on August 6, 2029, and is payable monthly at a fixed interest rate of 4.38% per annum. Transactions with Executive Officers and Directors Executive Compensation (i) Gosin Employment Agreement On February 10, 2023, Mr. Gosin entered into an amended and restated employment agreement with Newmark OpCo and Newmark Holdings. In connection with the employment agreement, the Compensation Committee approved (i) for a term through at least 2024, with the term running through 2025, an annual cash bonus of $1,500,000; (ii) an upfront advance award of four tranches of 1,145,475 Newmark NPSUs each (calculated by dividing $10,000,000 by the Company’s stock price of $8.73 on February 10, 2023) attributable to each year of the term and (iii) the continued ability to receive discretionary bonuses, if any, subject to approval of the Compensation Committee. A copy of the employment agreement was attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on February 14, 2023 and is described in detail therein. (ii) Rispoli Employment Agreement On September 29, 2022, Mr. Rispoli entered into an employment agreement with Newmark OpCo and Newmark Holdings. In connection with the employment agreement, the Compensation Committee approved the following for Mr. Rispoli: (i) an award of 500,000 Newmark RSUs, divided into tranches of 100,000 RSUs each that vest on a seven-year schedule; and (ii) an award of 250,000 Newmark RSUs, divided into tranches of 50,000 RSUs each that vest on a seven-year schedule . A copy of the employment agreement was attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 3, 2022 and is described in detail therein. In connection with signing the employment agreement on September 29, 2022, Mr. Rispoli received immediate exchangeability on 25% of his then currently held 88,079 non-exchangeable PSUs and 87,049 non-exchangeable PPSUs (such 25% totaled 23,560 PPSUs with a value of $283,527 and 20,221 PSUs), and will receive monetization rights on another 25% of such units held as of September 29, 2022, split pro-rata into one-fifth (1/5) increments, on or as soon as practicable after October 1 of each of 2023-2027, to the extent such units had not previously been given monetization rights, with each monetization contingent upon Mr. Rispoli performing substantial services exclusively for us or any affiliate, remaining a partner in Newmark Holdings, and complying with the terms of his employment agreement and any of his obligations to Newmark Holdings, us or any affiliate through such dates. (iii) Other Executive Compensation On December 21, 2021, the Compensation Committee approved: (i) the redemption of all of Mr. Gosin’s remaining 838,996 non-exchangeable Newmark PPSUs for $8,339,980 in cash and (ii) compensation of approximately $7,357,329 by way of the Company causing 478,328 of Mr. Gosin’s non-exchangeable Newmark PSUs to be redeemed for zero and issuing 446,711 shares of Newmark Class A common stock, based upon the closing price on the date the Committee approved the transaction (which was $16.47) and an Exchange Ratio of 0.9339. The estimated pre-tax value of this transaction is $15,697,309, less applicable taxes and withholdings, using a 53.13% tax rate for Mr. Gosin. On December 21, 2021, Mr. Lutnick elected to redeem all of his 193,530 currently exchangeable Newmark PPSUs for a cash payment of $1,465,873. In addition, upon the Compensation Committee’s approval of the monetization of Mr. Gosin’s remaining non-exchangeable Newmark PPSUs and a number of Mr. Gosin’s non-exchangeable PSUs on December 21, 2021, Mr. Lutnick (i) elected to redeem 188,883 non-exchangeable Newmark PPSUs for a cash payment of $1,954,728, and 127,799 non-exchangeable Newmark NPPSUs for a cash payment of $1,284,376, both for which he previously waived, but now accepted under the Company’s standing policy for Mr. Lutnick; and (ii) received the right to monetize, and accepted the monetization of, his remaining 122,201 non-exchangeable Newmark NPPSUs for a cash payment of $1,228,124, under such standing policy. In connection with the foregoing, Mr. Lutnick accepted the right to monetize approximately $4,406,915 by way of the Company causing 286,511 of Mr. Lutnick’s non-exchangeable Newmark PSUs to be redeemed for zero and issuing 267,572 shares of Newmark Class A common stock based upon the closing price on the date the Committee approved the transaction (which was $16.47) and a 0.9339 Exchange Ratio, under the Company’s standing policy applying to Mr. Lutnick, with such acceptance of rights granted in reference to Mr. Gosin’s December 2021 transactions to the extent necessary to effectuate the foregoing (and otherwise Mr. Lutnick waived all remaining rights, which shall be cumulative). The aggregate estimated pre-tax value of these transactions is $10,340,015, less applicable taxes and withholdings, using a 57.38% tax rate for Mr. Lutnick. On June 28, 2021, in connection 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. 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 Newmark Class A common stock were issued to Mr. Merkel. On the same day, the 68,727 shares of Newmark Class A common stock were repurchased from Mr. Merkel at $10.67 per share, the closing price of Newmark Class A common stock on that date, under the Company's stock buyback program. The total payment delivered to Mr. Merkel was $0.8 million, less applicable taxes and withholdings. 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 Newmark Class A common stock. On the same day, the Company repurchased these shares from Mr. Merkel at the closing price of Newmark Class A common stock of $11.09 per share under the Company's 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 was 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 Newmark 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 Newmark 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). Howard W. Lutnick, Chairman In connection with the Corporate Conversion, on May 18, 2023, Mr. Lutnick’s 1,474,930 BGC Holdings HDUs were redeemed for a cash capital account payment of $9.1 million, $7.0 million of which was paid by Newmark, with the remainder paid by BGC. The $7.0 million HDU liability was included in “Accrued Compensation” on the accompanying unaudited condensed consolidated balance sheet as of December 31, 2022, and related to services provided by Mr. Lutnick to Newmark prior to the Spin-off. Newmark recorded the related compensation expense and took the compensation tax deductions in prior years. On December 27, 2021, the Compensation Committee approved a one-time bonus award to Mr. Lutnick, which was evidenced by the execution and delivery of a Retention Bonus Agreement, dated December 28, 2021, in consideration of his success in managing certain aspects of the Company’s performance as its principal executive officer and Chairman. The bonus award rewarded Mr. Lutnick for his efforts in delivering superior financial results for the Company and its stockholders, including in particular his success in creating substantial value for the Company and its stockholders in connection with creating, structuring, hedging and monetizing the forward share contract to receive over time shares of common stock of Nasdaq held by the Company and the strong balance sheet and significant amount of income created from this. A principal reason for structuring the bonus award with a substantial portion to be paid out over three years was also to further incentivize Mr. Lutnick to continue to serve as both the Company’s principal executive officer and its Chairman for the benefit of the Company’s stockholders. The Retention Bonus Agreement provides for an aggregate cash payment of $50 million, payable as follows: $20 million within three days of the date of the Retention Bonus Agreement (which payment was made on December 31, 2021), and $10 million within thirty days following vesting on each of the first, second and third anniversaries of the date of the Retention Bonus Agreement. Any entitlement to future amounts not vested will be forfeited immediately if, prior to the applicable anniversary date, Mr. Lutnick ceases to serve as both the Company’s Chairman and its principal executive officer, unless Mr. Lutnick ceasing to serve in either such capacity occurs pursuant to a “Vesting Termination,” as that term is defined in the Retention Bonus Agreement. Mr. Lutnick has purchased Newmark Class A common stock with the after-tax proceeds of the initial tranche of the bonus award. The Retention Bonus Agreement describes a “Vesting Termination” as (i) a termination of Mr. Lutnick’s employment by the Company without “Cause” (as that term is defined in the Retention Bonus Agreement) or (ii) an involuntary removal of Mr. Lutnick from the position of Chairman of the Board on or after the occurrence of a Change in Control (as that term is defined in the Change of Control Agreement, dated as of December 13, 2017, by and between Mr. Lutnick and the Company). In the event that Mr. Lutnick ceases to serve as both the Company’s Chairman and its principal executive officer pursuant to a Vesting Termination, any amounts not vested will immediately become fully vested. The Retention Bonus Agreement provides that Mr. Lutnick ceasing to serve as the Company’s Chairman and principal executive officer pursuant to his death or disability does not constitute a Vesting Termination. The provisions of Mr. Lutnick’s Change of Control Agreement do not apply to the bonus award. A copy of the Retention Bonus Agreement was attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on December 29, 2021 and is described in detail under the heading “2021 Lutnick Award” in our proxy statement filed with the SEC on August 15, 2022. On June 28, 2021, in connection with the 2021 Equity Event, the Newmark Compensation Committee approved the following for Mr. Lutnick: (i) the exchange of 279,725 exchangeable Newmark Holdings PSUs into 263,025 shares of Class A common stock of Newmark based on the then applicable Exchange Ratio of 0.9403; and $1,465,874 associated with Mr. Lutnick’s non-exchangeable 193,530 Newmark Holdings PPSUs was redeemed and used for tax purposes; (ii) the conversion of 552,482.62 non-exchangeable Newmark Holdings PSUs with H-Rights into 552,482.62 non-exchangeable Newmark Holdings HDUs and redemption of such HDUs for their capital account of $7,017,000, paid in the form of Nasdaq shares issued at $177.11 per share (which was the Nasdaq closing price as of June 28, 2021); and $7,983,000 associated with Mr. Lutnick’s non-exchangeable Newmark Holdings PPSUs with H-Rights were redeemed and used for tax purposes; (iii) the exchange of 520,380 exchangeable BGC Holdings PSUs into 520,380 shares of Class A common stock of BGC Partners, and $1,525,705 associated with Mr. Lutnick’s exchangeable BGC Holdings PPSUs was redeemed and used for tax purposes; (iv) 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 Class A common stock of BGC Partners; (v) the conversion of 1,131,774 non-exchangeable BGC Holdings PSUs with H-Rights into 1,131,774 non-exchangeable BGC Holdings HDUs and $7,983,000 associated with Mr. Lutnick’s BGC Holdings PPSUs with H-Rights was redeemed and used for tax purposes in connection with the exercise of the BGC Holdings HDUs; and (vi) the issuance of 29,059 shares of Class A common stock of Newmark. In accordance with Mr. Lutnick’s right under his existing standing policy, and in connection with the 2021 Equity Event, upon the approval of the Newmark Compensation Committee: (i) 2,909,819 non-exchangeable Newmark Holdings PSUs, pursuant to Mr. Lutnick’s rights under his existing standing policy, were redeemed and 2,736,103 shares of Class A common stock of Newmark, based upon the then applicable Exchange Ratio of 0.9403, were granted to Mr. Lutnick; and (ii) $8,798,546 associated with Mr. Lutnick’s rights under his existing standing policy was redeemed and used for tax purposes. See “Executive Compensation” in our proxy statement filed August 15, 2022 for additional information and definitions. 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. Effective as of April 14, 2022, Mr. Gosin’s 905,371 BGC Holdings HDUs were redeemed for a cash payment of $3,521,893 based upon a price of $3.89 per unit, which was the closing price of BGC Partners Class A common stock on April 14, 2022. On June 28, 2021, the Compensation Committee approved the following for Mr. 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 Class A common stock of Newmark based upon the then current Exchange Ratio of 0.9403; and $834,508 associated with Mr. Gosin’s exchangeable Newmark Holdings PPSUs was redeemed and used for tax purposes; (ii) the conversion of 443,871.60 non-exchangeable Newmark Holdings PSUs with H-Rights into 443,871.60 non-exchangeable Newmark Holdings HDUs, and redemption of such HDUs, less any taxes and withholdings in excess of $5,362,452, paid in the form of Nasdaq shares issued at $177.11 per share (which was the Nasdaq closing price as of June 28, 2021); and $5,362,452 in connection with Mr. Gosin’s Newmark Holdings PPSUs with H-Rights was redeemed and used for tax purposes; (iii) 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 Class A common stock of BGC Partners; and $298,273 associated with Mr. Gosin’s exchangeable BGC Holdings PPSUs was redeemed and used for tax purposes; (iv) the conversion of 1,592,016 non-exchangeable BGC Holdings PSUs with H-Rights into 1,592,016 non-exchangeable BGC Holdings HDUs, and $1,129,499 associated with Mr. Gosin’s non-exchangeable BGC Holdings PPSUs was redeemed and used for tax purposes; and (v) the issuance of 12,500 shares of Class A common stock of Newmark. 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 Class A common stock of Newmark based on the then current Exchange Ratio of 0.9403 and $208,407 associated with Mr. Rispoli’s exchangeable Newmark Holdings PPSUs was redeemed and used for tax purposes; (ii) 6,000 non-exchangeable Newmark Holdings PSUs were redeemed and an aggregate of 5,642 restricted shares of Newmark were issued to Mr. Rispoli based upon the then current Exchange Ratio of 0.9403, and $52,309 associated with Mr. Rispoli’s non-exchangeable Newmark Holdings PPSUs was redeemed and used for tax purposes; (iii) the conversion of 5,846.07 non-exchangeable Newmark Holdings PSUs with H-Rights into 5,846 non-exchangeable Newmark Holdings HDUs and the redemption of such HDUs, less any taxes and withholdings in excess of $60,750, paid in the form of Nasdaq shares issued at $177.11 per share (which was the Nasdaq closing price as of June 28, 2021); and $60,750 associated with Mr. Rispoli’s PPSUs with H-Rights was redeemed and used for tax purposes; (iv) the exchange of 36,985 exchangeable BGC Holdings PSUs into 36,985 shares of Class A common stock of BGC, and $134,573 associated with Mr. Rispoli’s exchangeable BGC Holdings PPSUs was redeemed and used for tax purposes; and (v) the issuance of 383 shares of Class A common stock of Newmark. 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 their current Exchange Ratio of 0.9403; and (ii) the redemption of 46,349.87 non-exchangeable Newmark Holdings PPSUs for a cash payment of $0.3 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 Keogh retirement account held by Mr. Lutnick purchased 5,154 shares of our Class A common stock from us at the closing price of Newmark Class A common stock on that date of $10.67 per share. The transaction was approved by our Audit Committee. Transactions Related to Ordinary Course Real Estate Services On November 4, 2020, the Audit Committee 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 June 30, 2023 and December 31, 2022, Newmark’s investment was accounted for under the equity method (see Note 8 — “Investments”). Newmark holds a redemption option in which Real Estate LP can redeem in full Newmark’s investment in Real Estate LP in exchange for Newmark’s capital account balance in Real Estate LP as of such time. Amendment of Real Estate LP Joint Venture Agreement and Payment of Administrative Fee In December 2022, the Audit Committee authorized a subsidiary of Newmark to rescind its July 20, 2022 written notice exercising the optional redemption of its 27.2% ownership interest in Real Estate LP and amended the joint venture agreement between Newmark and Real Estate LP to provide for a redemption option for this investment after July 1, 2023, with proceeds to be received within 20 days of the redemption notice. A payment of a $44.0 thousand administrative fee was made to Newmark in connection with such amendment. On July 1, 2023, Newmark exercised its redemption option and received payment of $104.7 million from Cantor in July of 2023, terminating Newmark’s interest in Real Estate LP. Transactions with Cantor Fitzgerald & Co., a wholly owned broker-dealer subsidiary of Cantor On June 18, 2018 and September 26, 2018, Newmark entered into transactions related to the monetization of the Nasdaq shares that Newmark was scheduled 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 March 28, 2019, Newmark filed a registration statement on Form S-3 pursuant to which CF&Co may make offers and sales of Newmark's 6.125% Senior Notes in connection with ongoing market-making transactions which may occur from time to time. Such market-making transactions in these securities may occur in the open market or may be privately negotiated at prevailing market prices at a time of resale or at related or negotiated prices. Neither CF&Co, nor any of our affiliates, has any obligation to make a market in Newmark's securities, and CF&Co or any such other affiliate may discontinue market-making activities at any time without notice. Newmark does not receive any proceeds from market-making activities in these securities by CF&Co (or any of its affiliates). This registration statement expired in March 2022. On March 25, 2022, Newmark filed a new Registration Statement on Form S-3 to replace the one that was expiring. (d) Other Related Party Transactions On November 30, 2018, Newmark entered into 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%. No amounts were outstanding as of June 30, 2023 and 2022. Payables to related parties were $9.3 million and $9.7 million as of June 30, 2023 and December 31, 2022, 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 20 — “Debt”. In January 2022, Cantor entered into an arrangement to sublease excess space from RKF Retail Holdings LLC, a subsidiary of Newmark. The deal was a six-month sublease of approximately 21,000 rentable square feet in New York City. Under the terms of the sublease, Cantor paid all operating and tax expenses attributable to the lease. The sublease was amended to provide for a rate of $81,600 per month based on the size of utilized space, in addition to terms extending on a month-to-month basis. In June 2023, the sublease was extended three months to September 30, 2023. Newmark received $0.2 million and $0.2 million from Cantor for the three months ended June 30, 2023 and 2022, respectively, and $0.5 million and $0.5 million for the six months ended June 30, 2023 and 2022, 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% of base salary. 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. In June 2022, the Audit Committee approved ordinary course compensation adjustments and expense, travel and housing reimbursement for him in accordance with standard Company policies up to $250,000 in total compensation without further Committee review. 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 numb

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
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 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 in Newmark Holdings and BGC Holdings”, 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 June 30, 2023 and December 31, 2022, Newmark did not have any unrecognized tax benefits 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 June 30, 2023, Newmark has not accrued any tax-related interest and penalties.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2023
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): June 30, 2023 December 31, 2022 Accounts payable and accrued expenses $ 263,002 $ 208,168 Outside broker payable 76,787 82,002 Payroll taxes payable 81,041 92,247 Corporate taxes payable — 22,864 Derivative liability 2,821 9,378 Right-of-use liabilities 101,426 96,860 Contingent consideration 944 65 Total $ 526,021 $ 511,584 Other long-term liabilities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Accrued compensation $ 103,025 $ 95,770 Payroll and other taxes payable 68,406 59,380 Financial guarantee liability 28,500 27,729 Deferred rent 5,495 5,040 Contingent consideration 19,759 8,278 Other 7,400 — Total $ 232,585 $ 196,197

Compensation

Compensation	6 Months Ended
	Jun. 30, 2023
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 Holdings 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 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 215.0 million were registered on Forms S-8 as of June 30, 2023. As of June 30, 2023, awards with respect to 86.0 million shares had been granted and 314.0 million shares were available for future awards under the Equity Plan. 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 0.9235 as of June 30, 2023. 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Issuance of common stock and exchangeability expenses $ 9,897 $ 26,875 $ 34,480 $ 35,858 Allocations of net income to limited partnership units and FPUs (1) 122 7,787 364 7,933 Limited partnership units amortization 3,369 1,760 8,230 5,034 RSU amortization 6,221 5,566 12,184 10,061 Equity-based compensation and allocations of net income to limited partnership units and FPUs $ 19,609 $ 41,988 $ 55,258 $ 58,886 (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, 2022 18,419,613 8,663,930 Issued 15,402,041 25,032 Redeemed/exchanged units (2,934,984) (3,169,063) Forfeited units/other (198,716) (60,511) Balance, December 31, 2022 (1) 30,687,954 5,459,388 Issued 9,697,379 1,506 Redeemed/exchanged units (1,730,819) (5,082,356) Forfeited units/other (217,246) (999) June 30, 2023 (2) (3) 38,437,268 377,539 Total exchangeable units outstanding (1) : December 31, 2022 7,861,359 2,654,749 June 30, 2023 (2) (3) 9,082,995 68,139 (1) The Limited Partnership Units table above also includes partnership units issued as consideration for acquisitions. As of June 30, 2023, there were 3,459,228 partnership units in Newmark Holdings outstanding, of which 1,690,266 units were exchangeable, and 73,245 partnership units in BGC Holdings outstanding, of which 14,386 were exchangeable. As of December 31, 2022, there were 3.9 million partnership units in Newmark Holdings outstanding, of which 1.5 million units were exchangeable, and 4.8 million partnership units in BGC Holdings outstanding, of which 2.5 million were exchangeable. As a result of the Corporate Conversion, there are no longer any BGC Holdings partnership units outstanding held by Newmark employees. (2) As of June 30, 2023, the total Limited Partnership Units included 1,853,111 Newmark Preferred Units and 31,945 BGC Preferred Units held by Newmark employees. As a result of the Corporate Conversion, there are no longer any BGC Preferred Units outstanding held by Newmark employees. (3) The BGC units remaining as of June 30, 2023 are limited partnership units previously issued to now terminated partners. 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 Newmark Holdings and BGC 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, subsequent to the Spin-Off but prior to the closing of the Corporate Conversion, there were remaining partners who held 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 were exchanged/redeemed, the related capital could 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 were recognized by Newmark. However, the Newmark Holdings limited partnership interests held by BGC employees are included in the Newmark share count. The BGC Holdings limited partnership interests held by Newmark employees were included in the BGC share count until the Corporate Conversion. Prior to the Corporate Conversion, any active employees of Newmark who held limited partnership interests in BGC Holdings had those units redeemed or exchanged for cash or restricted or unrestricted shares of BGC Class A common stock. As a result of the Corporate Conversion, there are no longer any BGC Holdings units outstanding held by Newmark employees. 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 BGC Units 100,280 56,562 116,556 91,119 Newmark Units 972,339 2,336,261 3,700,617 2,868,859 Total 1,072,619 2,392,823 3,817,173 2,959,978 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Issuance of common stock and exchangeability expenses $ 9,897 $ 28,898 $ 34,480 $ 37,881 Limited partnership units with a post-termination payout held by Newmark employees are as follows (dollars in thousands): June 30, 2023 December 31, 2022 Notional Value $ 157,222 $ 144,045 Estimated fair value of the post-termination payout (1) $ 49,771 $ 42,706 Outstanding limited partnership units in Newmark Holdings 15,944,838 14,277,213 Outstanding limited partnership units in Newmark Holdings - unvested 1,536,784 2,155,668 Outstanding limited partnership units in BGC Holdings — 44,928 (1) Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets. Compensation expense related to limited partnership units held by Newmark employees with a post-termination pay-out amount is recognized over the service period. These units can vest for periods up to seven years from the grant date. Newmark recognized compensation expense related to these limited partnership units that were not redeemed as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Limited partnership units amortization $ 3,369 $ 1,760 $ 8,230 $ 5,034 The grant of exchange rights of HDUs to Newmark employees are as follows (in thousands): June 30, 2023 December 31, 2022 Notional Value $ 1,258 $ 8,189 Estimated fair value of limited partnership units (1) $ 1,132 $ 8,065 (1) Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets. During the three and six months ended June 30, 2023, there was no compensation expense related to these limited partnership units held by Newmark employees. During the three and six months ended June 30, 2022, there was ($2.0) million of compensation expense related to these limited partnership units held by Newmark employees. During the three and six months ended June 30, 2023, Newmark employees were granted 1.0 million and 2.0 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 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 six months ended June 30, 2023, 3.8 million and 6.3 million, N Units, respectively, vested and were converted into distribution earning limited partnership units and were therefore included in the fully diluted share count. During the three and six months ended June 30, 2022, Newmark employees were granted 0.8 million and 1.7 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 six months ended June 30, 2022, 0.8 million and 1.3 million N Units 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, 2022 10,721,457 $ 8.30 $ 89,025 4.96 5,375 $ 3.85 $ 21 1.16 Granted 3,350,516 12.15 40,710 4,191 4.28 18 Settled units (delivered shares) (2,464,570) 8.33 (20,526) (2,638) 3.69 (10) Forfeited units (343,541) 10.11 (3,474) — — — Balance, December 31, 2022 11,263,862 $ 9.39 $ 105,735 4.75 6,928 $ 4.17 $ 29 1.62 Granted 2,773,257 6.87 19,049 — — — Settled units (delivered shares) (1,672,331) 9.26 (15,494) (2,045) 4.05 (8) Forfeited units (228,012) 10.10 (2,302) — — — Balance, June 30, 2023 12,136,776 $ 8.82 $ 106,988 4.32 4,883 $ 4.22 $ 21 1.12 (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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 RSU amortization $ 6,221 $ 5,566 $ 12,184 $ 10,061 As of June 30, 2023, there was $101.5 million total unrecognized compensation expense related to unvested Newmark RSUs.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Contractual Obligations and Commitments As of June 30, 2023 and December 31, 2022, Newmark was committed to fund approximately $0.2 billion and $0.3 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 2019 through the second quarter of 2023 with contingent consideration of $20.7 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 unaudited condensed consolidated financial statements and disclosures taken as a whole. Risks and Uncertainties

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 27, 2023, Newmark declared a qualified quarterly dividend of $0.03 per share payable on August 31, 2023 to Class A and Class B common stockholders of record as of August 17, 2023. The ex-dividend date will be August 16, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 6,429	$ 48,519	$ (3,921)	$ 48,881

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [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 SEC and in conformity with U.S. GAAP. “Equity-based compensation and allocations of net income to limited partnership units and FPUs” reflects 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 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 FPUs, including the Preferred Distribution (as hereinafter defined). Intercompany balances and transactions within Newmark have been eliminated. Transactions between Cantor and Newmark pursuant to service agreements with Cantor (see Note 25 — “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 with 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 25 — “Related Party Transactions” for an additional discussion of expense allocations). Transfers of cash, both to and from Cantor, as well as amounts due to Newmark from BGC, 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. Opco 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 and New Accounting Pronouncements	Recently Adopted Accounting Pronouncements 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. Newmark adopted the standard on the required effective date beginning January 1, 2022, and it 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. 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 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. During the first quarter of 2022, Newmark elected to apply the practical expedients to modifications of qualifying contracts as continuation of the existing contract rather than as a new contract. The adoption of the new guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . The standard requires business entities to make annual disclosures about transactions with a government they account for by analogizing to a grant or contribution accounting model. The guidance is aimed at increasing transparency about government assistance transactions that are not in the scope of other U.S. GAAP guidance. The ASU requires disclosure of the nature and significant terms and considerations of the transactions, the accounting policies used and the effects of those transactions on an entity’s financial statements. The new standard became effective for Newmark’s financial statements issued for annual reporting periods beginning on January 1, 2022. The adoption of this guidance did not have an impact on the accompanying unaudited condensed consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The standard improves the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability, as well as payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU requires companies to apply guidance in ASC 606, Revenue from Contracts with Customers , to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination, and, thus, creates an exception to the general recognition and measurement principle in ASC 805, Business Combinations . Newmark adopted the standard on the required effective date beginning January 1, 2023 using a prospective transition method for business combinations occurring on or after the effective date. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The guidance is intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings, and write-offs. The standard eliminates the recognition and measurement guidance on TDRs for creditors that have adopted ASC 326, Financial Instruments — Credit Losses and requires them to make enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. The new guidance also requires public business entities to present current-period gross write-offs (on a current year-to-date basis for interim-period disclosures) by year of origination in their vintage disclosures. Newmark adopted the new standard on the required effective date beginning January 1, 2023. The guidance for recognition and measurement of TDRs was applied using a prospective transition method, and the amendments related to disclosures were applied prospectively. The adoption of this guidance did not have a material impact on the accompanying unaudited condensed consolidated financial statements. (c) New Accounting Pronouncements In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting provided optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU was effective upon issuance and generally could be applied through December 31, 2022. Because the current relief in ASC 848, Reference Rate Reform may not cover a period of time during which a significant number of modifications may take place, the amendments in ASU No. 2022-06 defer the sunset date from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in ASC 848. Management is currently evaluating the impact of the new standard on the accompanying unaudited condensed consolidated financial statements.
Revenue Recognition	Revenue Recognition: Management Services, Servicing Fees and Other: Management services revenues include property management, facilities management, project management and valuation and appraisal. Management fees are recognized at the time the related services have been performed, unless future contingencies exist. This also includes revenue from the licensing of flexible workspaces to its customers by Knotel and Deskeo. In addition, in regard to management and facility service contracts, the owner of the property will typically reimburse Newmark for certain expenses that are incurred on behalf of the owner, which comprise primarily on-site employee salaries and related benefit costs. The amounts which are to be reimbursed per the terms of the services contract are recognized as revenue in the same period as the related expenses are incurred. In certain instances, Newmark subcontracts property management services to independent property managers, in which case Newmark passes a portion of its property management fee on to the subcontractor, and Newmark retains the balance. Accordingly, Newmark records these fees gross of the amounts paid to subcontractors, and the amounts paid to subcontractors are recognized as expenses in the same period. Newmark also uses third party service providers in the provision of its services to customers. In instances where a third-party service provider is used, Newmark performs an analysis to determine whether it is acting as a principal or an agent with respect to the services provided. To the extent that Newmark determines that it is acting as a principal, the revenue and the expenses incurred are recorded on a gross basis. In instances where Newmark has determined that it is acting as an agent, the revenue and expenses are presented on a net basis within the revenue line item. In some instances, Newmark performs services for customers and incurs out-of-pocket expenses as part of delivering those services. Newmark’s customers agree to reimburse Newmark for those expenses, and those reimbursements are part of the contract’s transaction price. Consequently, these expenses and the reimbursements of such expenses from the customer are presented on a gross basis because the services giving rise to the out-of-pocket expenses do not transfer a good or service. The reimbursements are included in the transaction price when the costs are incurred, and the reimbursements are due from the customer. Servicing fees are earned for servicing mortgage loans and are recognized on an accrual basis over the lives of the related mortgage loans. Also included in servicing fees are the fees earned on prepayments, interest and placement fees on borrowers’ escrow accounts and other ancillary fees. Other revenues include interest income on warehouse notes receivable. Leasing and Other Commissions : Commissions from real estate lease brokerage transactions are typically recognized at a point in time on the date the lease is signed, if deemed not subject to significant reversal. The date the lease is signed represents the transfer of control and satisfaction of the performance obligation as the tenant has been secured. Commission payments may be due entirely upon lease execution or may be paid in installments upon the resolution of a future contingency (e.g. tenant move-in or payment of first month’s rent). Investment Sales Investment sales revenue from real estate sales brokerage transactions are recognized at the time the service has been provided and the commission becomes legally due, except when future contingencies exist. In most cases, close of escrow or transfer of title is a future contingency, and revenue recognition is deferred until all contingencies are satisfied. Commercial Mortgage Origination, net: Fair value of expected net future cash flows from servicing and loan originations and related fees and sales premiums, net, are recognized when a derivative asset or liability is recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The derivative is recorded at fair value and includes loan origination fees, sales premiums, and the estimated fair value of the expected net servicing cash flows. The revenue is recognized net of related fees and commissions to third-party brokers. Mortgage brokerage and debt placement revenue is earned and recognized when the sale of a property closes, and title passes from seller to buyer. The revenue is generated from the loan origination fees, sales premiums, and the estimated fair value of the expected net servicing cash flows.
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net: Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. As prescribed in the U.S. GAAP guidance, Intangibles—Goodwill and Other , goodwill and other indefinite-lived intangible assets are not amortized, but instead are periodically tested for impairment. The Company reviews goodwill and other indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter of each fiscal year or whenever an event occurs or circumstances change that could reduce the fair value of a reporting unit below its carrying amount. When reviewing goodwill for impairment, Newmark first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Definite-lived intangible assets arising from business combinations include trademark and trade names, non-contractual customers, license agreements, non-compete agreements, and contractual customers.
Current Expected Credit Losses and Financial Guarantee Liability	Current Expected Credit Losses: 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 unaudited condensed 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:
Receivables, net	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 unaudited condensed 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.
Loans, Forgivable Loans and Other Receivables from Employees and Partners, net	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 of June 30, 2023 and December 31, 2022, the balance of this reserve was $2.2 million and $1.4 million, respectively, and is included in “Loans, forgivable loans and other receivables from employees and partners, net” on the accompanying unaudited condensed 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
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, and developers. Our services include 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 evaluates the operating results of Newmark regardless of geographic location as total real estate services and allocates resources accordingly.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Revenue by Segment	Newmark recognized revenues as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Management services, servicing fees and other $ 240,660 $ 233,685 $ 452,952 $ 466,804 Leasing and other commissions 203,611 212,825 396,917 411,778 Investment sales 77,604 209,053 149,597 361,167 Commercial mortgage origination, net 63,969 99,788 107,177 193,850 Revenues $ 585,844 $ 755,351 $ 1,106,643 $ 1,433,599

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Components of Purchase Consideration Transferred and Preliminary Allocation of Assets Acquired and Liabilities Assumed	For the six months ended June 30, 2023, 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 acquisitions, and therefore adjustments to assets and liabilities may occur (in thousands): As of the Purchase Price Cash 101,152 Contingent consideration 11,863 Total $ 113,015 Allocations Cash $ 18,616 Goodwill 75,638 Other intangible assets, net 23,472 Receivables, net 30,995 Fixed Assets, net 6,279 Other assets 1,829 Right-of-use assets 19,472 Right-of-use liabilities (20,925) Accrued compensation (22,075) Accounts payable, accrued expenses and other liabilities (20,286) Total $ 113,015 The following table summarizes the components of the purchase consideration transferred, and the of the assets acquired, and liabilities assumed, for the acquisitions which occurred in 2022: As of the Purchase Price Contingent consideration 7,322 Cash and stock issued at closing 65,533 Total $ 72,855 Allocations Cash $ 1,286 Goodwill 50,756 Other intangible assets, net 19,633 Receivables, net 3,625 Other assets 290 Right-of-use Assets 4,305 Right-of-use Liabilities (4,305) Accrued Compensation (2,175) Accounts payable, accrued expenses and other liabilities (560) Total $ 72,855

Earnings Per Share and Weight_2

Earnings Per Share and Weighted-Average Shares Outstanding (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic earnings per share: Net income available to common stockholders $ 6,429 $ 48,519 $ (3,921) $ 48,881 Basic weighted-average shares of common stock outstanding 173,939 183,948 173,254 186,401 Basic earnings per share $ 0.04 $ 0.26 $ (0.02) $ 0.26
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fully diluted earnings per share: Net income available to common stockholders $ 6,429 $ 48,519 $ (3,921) $ 48,881 Allocations of net income to limited partnership interests in Newmark Holdings, net of tax 2,421 14,860 — 14,567 Net income for fully diluted shares $ 8,850 $ 63,379 $ (3,921) $ 63,448 Weighted-average shares: Common stock outstanding 173,939 183,948 173,254 186,401 Partnership units (1) 69,633 58,917 — 57,576 RSUs (Treasury stock method) 879 3,067 — 4,475 Newmark exchange shares 503 2,053 — 2,006 Fully diluted weighted-average shares of common stock outstanding 244,954 247,985 173,254 250,458 Fully diluted earnings per share $ 0.04 $ 0.26 $ (0.02) $ 0.25 (1) Partnership units collectively include FPUs, limited partnership units, and Cantor 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)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Shares outstanding at beginning of period 153,142,810 168,557,363 150,384,605 168,272,371 Share issuances: LPU redemption/exchange (1) 1,158,346 2,395,043 3,086,251 3,329,911 Issuance of Class A common stock for Newmark RSUs 286,608 369,567 1,272,148 1,389,041 Other 1,051 51,314 (154,189) 64,835 Treasury stock repurchases (2,354,217) (11,370,647) (2,354,217) (13,053,518) Shares outstanding at end of period 152,234,598 160,002,640 152,234,598 160,002,640
Schedule of Share Repurchase Activity	The gross share repurchases of Newmark’s Class A common stock during the six months ended June 30, 2023 were as follows (in thousands except shares and per share amounts): Total Average Approximate Repurchases January 1, 2023 - March 31, 2023 — — April 2023 674 $ 7.08 May 2023 2,315,213 $ 5.67 June 2023 38,330 $ 5.75 Total Repurchases 2,354,217 $ 5.68 $ 378,900
Schedule of Changes in Carrying Amount of Redeemable Partnership Interest	The changes in the carrying amount of FPUs follow (in thousands): June 30, 2023 December 31, 2022 Balance at beginning of period: $ 16,550 $ 20,947 Income allocation — 2,272 Distributions of income (380) (5,130) Issuance and other (1,103) (1,539) Balance at end of period $ 15,067 $ 16,550

Loans Held for Sale, at Fair _2

Loans Held for Sale, at Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
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): June 30, 2023 December 31, 2022 Cost Basis $ 941,457 $ 137,633 Fair Value 936,970 138,345 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest income on loans held for sale $ 10,135 $ 5,162 $ 12,273 $ 10,106 Gains (losses) recognized on change in fair value on loans held for sale (10,675) 10,862 (4,487) 11,827

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
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): June 30, 2023 December 31, 2022 Derivative contract Assets Liabilities Notional Amounts (1) Assets Liabilities Notional Amounts (1) Rate lock commitments $ 2,092 $ 2,749 $ 92,367 $ 3,181 $ 8,754 $ 140,697 Forward sale contracts 20,485 72 1,033,824 11,139 624 278,331 Total $ 22,577 $ 2,821 $ 1,126,191 $ 14,320 $ 9,378 $ 419,028
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 gains (losses) recognized in income for derivatives Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Derivatives not designed as hedging instruments: Rate lock commitments Commercial mortgage origination, net (7,167) (2,198) (100) (5,167) Rate lock commitments Compensation and employee benefits 1,238 1,123 (558) (224) Forward sale contracts Commercial mortgage origination, net 18,718 (11,992) 20,414 9,524 Total $ 12,789 $ (13,067) $ 19,756 $ 4,133

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues from contracts with customers: Leasing and other commissions $ 203,611 $ 212,825 396,917 $ 411,778 Investment sales 77,604 209,053 149,597 361,167 Mortgage brokerage and debt placement 19,330 50,326 36,476 96,615 Management services 178,161 181,329 340,265 366,389 Total 478,706 653,533 923,255 1,235,949 Other sources of revenue (1) : Fair value of expected net future cash flows from servicing recognized at commitment, net 23,046 31,499 37,145 60,971 Loan originations related fees and sales premiums, net 21,593 17,963 33,556 36,264 Servicing fees and other 62,499 52,356 112,687 100,415 Total $ 585,844 $ 755,351 $ 1,106,643 $ 1,433,599 (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.
Schedule of Revenue Remaining Performance Obligation	Approximate future cash flows to be received over the next five years as of June 30, 2023 are as follows (in thousands): 2023 $ 56,753 2024 60,550 2025 30,067 2026 9,595 2027 4,918 Thereafter 3,520 Total $ 165,403

Commercial Mortgage Originati_2

Commercial Mortgage Origination, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Mortgage Banking [Abstract]
Summary of Gains from Mortgage Banking Activities, Net	Commercial mortgage origination, net consists of the following activity (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fair value of expected net future cash flows from servicing recognized at commitment, net $ 23,046 $ 31,499 $ 37,145 $ 60,971 Loan originations related fees and sales premiums, net 21,593 17,963 33,556 36,264 Mortgage brokerage and debt placement 19,330 50,326 36,476 96,615 Total $ 63,969 $ 99,788 $ 107,177 $ 193,850

Mortgage Servicing Rights, Net

Mortgage Servicing Rights, Net (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, Mortgage Servicing Rights 2023 2022 2023 2022 Beginning Balance $ 556,916 $ 571,581 $ 576,428 $ 563,488 Additions 22,654 35,426 31,619 71,626 Amortization (29,007) (29,059) (57,484) (57,166) Ending Balance $ 550,563 $ 577,948 $ 550,563 $ 577,948 Valuation Allowance Beginning Balance $ (6,375) $ (11,986) $ (7,876) $ (13,186) Decrease 343 2,718 1,844 3,918 Ending Balance $ (6,032) $ (9,268) $ (6,032) $ (9,268) Net Balance $ 544,531 $ 568,680 $ 544,531 $ 568,680
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Servicing fees $ 37,711 $ 37,089 $ 74,617 $ 73,034 Escrow interest and placement fees 12,657 2,389 22,748 3,406 Ancillary fees 1,829 7,482 2,760 13,156 Total $ 52,197 $ 46,960 $ 100,125 $ 89,596

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 657,131 Acquisitions 50,756 Measurement period and currency translation adjustments (1,993) Balance, December 31, 2022 705,894 Acquisitions 75,638 Divestiture (9,222) Measurement period and currency translation adjustments 3,545 Balance, June 30, 2023 $ 775,855
Schedule of Components of Other Intangible Assets	Other intangible assets consisted of the following (in thousands, except weighted-average life): June 30, 2023 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 16,360 (9,283) 7,077 2.4 Non-contractual customers 30,131 (16,066) 14,065 8.3 Non-compete agreements 12,523 (5,949) 6,574 4.5 Contractual customers 60,572 (14,535) 46,037 4.0 Other 4,551 (2,525) 2,026 11.4 Total $ 140,877 $ (48,358) $ 92,519 4.7 December 31, 2022 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 12,893 (8,103) 4,790 2.4 Non-contractual customers 30,131 (14,995) 15,136 8.6 License agreements 4,981 (4,981) — — Non-compete agreements 9,557 (5,113) 4,444 3.1 Contractual customers 48,257 (10,690) 37,567 5.7 Other 4,551 (2,260) 2,291 12.4 Total $ 127,110 $ (46,142) $ 80,968 5.9
Summary of Estimated Future Amortization Expense of Definite Life Intangible Assets	The estimated future amortization of definite life intangible assets as of June 30, 2023 was as follows (in thousands): 2023 $ 9,121 2024 17,798 2025 16,363 2026 12,820 2027 8,826 Thereafter 10,851 Total $ 75,779

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Components of Fixed Assets, Net	Fixed assets, net consisted of the following (in thousands): June 30, 2023 December 31, 2022 Leasehold improvements, furniture and fixtures, and other fixed assets $ 233,645 $ 207,020 Software, including software development costs 53,394 48,112 Computer and communications equipment 32,182 31,586 Total, cost 319,221 286,718 Accumulated depreciation and amortization (142,407) (131,079) Total, net $ 176,814 $ 155,639

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Minimum Lease Payments	Minimum lease payments under these arrangements, net of payments to be received under a sublease, were as follows (in thousands): June 30, 2023 December 31, 2022 2023 $ 64,944 $ 125,633 2024 133,277 127,996 2025 132,291 126,234 2026 127,263 121,596 2027 118,338 110,997 Thereafter 300,991 242,185 Total lease payments 877,104 854,641 Less: Interest 148,149 141,792 Present value of lease liability $ 728,955 $ 712,849

Other Current Assets and Othe_2

Other Current Assets and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Other Assets [Abstract]
Summary of Other Current Assets	Other current assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Derivative assets $ 22,577 $ 14,320 Equity method investment 99,815 — Prepaid expenses 51,555 40,393 Other taxes 22,536 21,988 Rent and other deposits 21,514 19,284 Other 1,122 4,203 Total $ 219,119 $ 100,188
Summary of Non Current Other Assets	Other assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Deferred tax assets $ 94,595 $ 94,689 Equity method investment — 91,280 Non-marketable investments 7,691 8,688 Other tax receivables 5,280 6,683 Other 22,497 12,926 Total $ 130,063 $ 214,266

Warehouse Facilities Collater_2

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises (Tables)	6 Months Ended
	Jun. 30, 2023
Broker-Dealer [Abstract]
Schedule of Company Lines Available and Borrowings Outstanding	Newmark had the following lines available and borrowings outstanding (in thousands): Committed Uncommitted Balance at June 30, 2023 Balance at December 31, 2022 Stated Spread Rate Type Warehouse facility due June 12, 2024 (1) $ 450,000 $ — $ — $ — 145 bps Variable Warehouse facility due June 12, 2024 (1) — 300,000 — — 145 bps Variable Warehouse facility due September 25, 2023 300,000 — 204,021 35,292 130 bps Variable Warehouse facility due September 25, 2023 — 100,000 — — 130 bps Variable Warehouse facility due October 6, 2023 800,000 — 719,451 102,114 130 bps Variable Fannie Mae repurchase agreement, open maturity — 400,000 8,000 — 115 bps Variable Total $ 1,550,000 $ 800,000 $ 931,472 $ 137,406 (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 SOFR plus 180 bps. There wer e no outstanding draws under this sublimit as of June 30, 2023 and December 31, 2022.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Long-Term Debt Payable to Related Parties	Debt consisted of the following (in thousands): June 30, 2023 December 31, 2022 6.125% Senior Notes $ 549,088 $ 547,784 Credit Facility 225,000 — Total $ 774,088 $ 547,784 The carrying amount of the 6.125% Senior Notes was determined as follows (in thousands): June 30, 2023 December 31, 2022 Principal balance $ 550,000 $ 550,000 Less: debt issue cost 478 1,120 Less: debt discount 434 1,096 Total $ 549,088 $ 547,784 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest expense $ 8,422 $ 8,735 $ 16,844 $ 17,464 Debt issue cost amortization 321 321 642 642 Debt discount amortization 333 313 661 621 Total $ 9,076 $ 9,369 $ 18,147 $ 18,727 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest expense $ 4,018 $ — $ 5,277 $ — Debt issue cost amortization 264 — 711 — Unused facility fee 182 334 452 634 Total $ 4,464 $ 334 $ 6,440 $ 634

Financial Guarantee Liability (

Financial Guarantee Liability (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 25,989 Provision for expected credit losses 1,740 Balance, December 31, 2022 27,729 Provision for expected credit losses 2,583 Credit loss settlement (1,812) Balance, June 30, 2023 $ 28,500

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 310 $ — $ — $ 310 Loans held for sale, at fair value — 936,970 — 936,970 Rate lock commitments — — 2,092 2,092 Forward sale contracts — — 20,485 20,485 Total $ 310 $ 936,970 $ 22,577 $ 959,857 Liabilities: Contingent consideration — — 20,703 20,703 Rate lock commitments — — 2,749 2,749 Forward sale contracts — — 72 72 Total $ — $ — $ 23,524 $ 23,524 As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Marketable securities $ 788 $ — $ — $ 788 Loans held for sale, at fair value — 138,345 — 138,345 Rate lock commitments — — 3,181 3,181 Forward sale contracts — — 11,139 11,139 Total $ 788 $ 138,345 $ 14,320 $ 153,453 Liabilities: Contingent consideration $ — $ — $ 8,343 $ 8,343 Rate lock commitments — — 8,754 8,754 Forwards sale contracts — — 624 624 Total $ — $ — $ 17,721 $ 17,721
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 rate lock commitments, forward sale contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands): As of June 30, 2023 Opening Total realized Additions Settlements Closing Unrealized Assets: Rate lock commitments $ 3,181 $ 2,092 $ — $ (3,181) $ 2,092 $ 2,092 Forward sale contracts 11,139 20,485 — (11,139) 20,485 20,485 Total $ 14,320 $ 22,577 $ — $ (14,320) $ 22,577 $ 22,577 Opening Total realized Additions Settlements Closing Unrealized Liabilities: Contingent consideration $ 8,343 $ 1,154 $ 12,189 $ (983) $ 20,703 $ 1,154 Rate lock commitments 8,754 2,749 — (8,754) 2,749 2,749 Forward sale contracts 624 72 — (624) 72 72 Total $ 17,721 $ 3,975 $ 12,189 $ (10,361) $ 23,524 $ 3,975 As of December 31, 2022 Opening Total realized Additions Settlements Closing Unrealized Assets: Rate lock commitments $ 3,957 $ 3,181 $ — $ (3,957) $ 3,181 $ 3,181 Forward sale contracts 4,544 11,139 — (4,544) 11,139 11,139 Total $ 8,501 $ 14,320 $ — $ (8,501) $ 14,320 $ 14,320 Opening Total realized Additions Settlements Closing Unrealized Liabilities: Contingent consideration $ 12,338 $ (1,893) $ 6,226 $ (8,328) $ 8,343 $ (1,893) Rate lock commitments 2,836 8,754 — (2,836) 8,754 8,754 Forward sale contracts 2,180 624 — (2,180) 624 624 Total $ 17,354 $ 7,485 $ 6,226 $ (13,344) $ 17,721 $ 7,485
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: June 30, 2023 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 20,703 Discount rate 4.0% - 11.8% (1) 4.2% Probability of meeting earnout and contingencies 75.0% - 100.0% (1) 99.5% Derivative assets and liabilities: Forward sale contracts $ 20,485 $ 72 Counterparty credit risk N/A N/A Rate lock commitments $ 2,092 $ 2,749 Counterparty credit risk N/A N/A December 31, 2022 Level 3 assets and liabilities Assets Liabilities Significant Unobservable Range Weighted Accounts payable, accrued expenses and other liabilities: Contingent consideration $ — $ 8,343 Discount rate 4.0% - 11.8% (1) 5.1% Probability of meeting earnout and contingencies 75.0% - 100.0% (1) 98.9% Derivative assets and liabilities: Forward sale contracts $ 11,139 $ 624 Counterparty credit risk N/A N/A Rate lock commitments $ 3,181 $ 8,754 Counterparty credit risk N/A N/A (1) Newmark’s estimate of contingent consideration as of June 30, 2023 and December 31, 2022 was based on the acquired business’ projected future financial performance, including revenues.

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
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): June 30, 2023 December 31, 2022 Accounts payable and accrued expenses $ 263,002 $ 208,168 Outside broker payable 76,787 82,002 Payroll taxes payable 81,041 92,247 Corporate taxes payable — 22,864 Derivative liability 2,821 9,378 Right-of-use liabilities 101,426 96,860 Contingent consideration 944 65 Total $ 526,021 $ 511,584
Summary of Other Long-term Liabilities	Other long-term liabilities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Accrued compensation $ 103,025 $ 95,770 Payroll and other taxes payable 68,406 59,380 Financial guarantee liability 28,500 27,729 Deferred rent 5,495 5,040 Contingent consideration 19,759 8,278 Other 7,400 — Total $ 232,585 $ 196,197

Compensation (Tables)

Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Issuance of common stock and exchangeability expenses $ 9,897 $ 26,875 $ 34,480 $ 35,858 Allocations of net income to limited partnership units and FPUs (1) 122 7,787 364 7,933 Limited partnership units amortization 3,369 1,760 8,230 5,034 RSU amortization 6,221 5,566 12,184 10,061 Equity-based compensation and allocations of net income to limited partnership units and FPUs $ 19,609 $ 41,988 $ 55,258 $ 58,886 (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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Issuance of common stock and exchangeability expenses $ 9,897 $ 28,898 $ 34,480 $ 37,881 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Limited partnership units amortization $ 3,369 $ 1,760 $ 8,230 $ 5,034 Compensation expense related to Newmark and BGC RSUs are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 RSU amortization $ 6,221 $ 5,566 $ 12,184 $ 10,061
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, 2022 18,419,613 8,663,930 Issued 15,402,041 25,032 Redeemed/exchanged units (2,934,984) (3,169,063) Forfeited units/other (198,716) (60,511) Balance, December 31, 2022 (1) 30,687,954 5,459,388 Issued 9,697,379 1,506 Redeemed/exchanged units (1,730,819) (5,082,356) Forfeited units/other (217,246) (999) June 30, 2023 (2) (3) 38,437,268 377,539 Total exchangeable units outstanding (1) : December 31, 2022 7,861,359 2,654,749 June 30, 2023 (2) (3) 9,082,995 68,139 (1) The Limited Partnership Units table above also includes partnership units issued as consideration for acquisitions. As of June 30, 2023, there were 3,459,228 partnership units in Newmark Holdings outstanding, of which 1,690,266 units were exchangeable, and 73,245 partnership units in BGC Holdings outstanding, of which 14,386 were exchangeable. As of December 31, 2022, there were 3.9 million partnership units in Newmark Holdings outstanding, of which 1.5 million units were exchangeable, and 4.8 million partnership units in BGC Holdings outstanding, of which 2.5 million were exchangeable. As a result of the Corporate Conversion, there are no longer any BGC Holdings partnership units outstanding held by Newmark employees. (2) As of June 30, 2023, the total Limited Partnership Units included 1,853,111 Newmark Preferred Units and 31,945 BGC Preferred Units held by Newmark employees. As a result of the Corporate Conversion, there are no longer any BGC Preferred Units outstanding held by Newmark employees. (3) The BGC units remaining as of June 30, 2023 are limited partnership units previously issued to now terminated partners.
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 BGC Units 100,280 56,562 116,556 91,119 Newmark Units 972,339 2,336,261 3,700,617 2,868,859 Total 1,072,619 2,392,823 3,817,173 2,959,978
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): June 30, 2023 December 31, 2022 Notional Value $ 157,222 $ 144,045 Estimated fair value of the post-termination payout (1) $ 49,771 $ 42,706 Outstanding limited partnership units in Newmark Holdings 15,944,838 14,277,213 Outstanding limited partnership units in Newmark Holdings - unvested 1,536,784 2,155,668 Outstanding limited partnership units in BGC Holdings — 44,928
Schedule of Grant of Conversion Rights	The grant of exchange rights of HDUs to Newmark employees are as follows (in thousands): June 30, 2023 December 31, 2022 Notional Value $ 1,258 $ 8,189 Estimated fair value of limited partnership units (1) $ 1,132 $ 8,065 (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, 2022 10,721,457 $ 8.30 $ 89,025 4.96 5,375 $ 3.85 $ 21 1.16 Granted 3,350,516 12.15 40,710 4,191 4.28 18 Settled units (delivered shares) (2,464,570) 8.33 (20,526) (2,638) 3.69 (10) Forfeited units (343,541) 10.11 (3,474) — — — Balance, December 31, 2022 11,263,862 $ 9.39 $ 105,735 4.75 6,928 $ 4.17 $ 29 1.62 Granted 2,773,257 6.87 19,049 — — — Settled units (delivered shares) (1,672,331) 9.26 (15,494) (2,045) 4.05 (8) Forfeited units (228,012) 10.10 (2,302) — — — Balance, June 30, 2023 12,136,776 $ 8.82 $ 106,988 4.32 4,883 $ 4.22 $ 21 1.12 (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_2

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

12 Months Ended

36 Months Ended

55 Months Ended

Jul. 02, 2021 USD ($) shares

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

Jun. 25, 2021 shares

Nov. 30, 2020 USD ($) shares

Dec. 02, 2019 USD ($) shares

Sep. 26, 2018 USD ($) tranche shares

Jun. 28, 2013 USD ($) shares

Dec. 31, 2018 USD ($)

Dec. 31, 2020 shares

Mar. 31, 2022 USD ($) shares

Jun. 30, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($) shares

Jul. 31, 2021 $ / shares

Jun. 30, 2021 USD ($)

Nov. 30, 2019 USD ($)

Jun. 18, 2018 USD ($)

Description Of Business

Shares settled (in shares) | shares

944,329

741,505

898,685

Investment owned shares settled fair value | $

$ 166,000

$ 93,500

$ 93,500

Shares owned (in shares) | shares

5,278,011

250,742

93,562

Marketable securities | $

$ 310

$ 788

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

2021 Equity Event | Class A Common Stock

Description Of Business

Limited partnership units conversion ratio

0.9403

Common Stock

Description Of Business

Amount recognized in connection with the earn-out including other income (loss) (in shares) | shares

992,247

Common Stock | Nasdaq

Description Of Business

Marketable securities | $

$ 1,093,900

Common Stock | Nasdaq | Nasdaq

Description Of Business

Number of shares pledged to be repurchased (in shares) | shares

866,791

Value of shares pledged to be repurchased | $

$ 182,000

Amount received from the value of shares pledged | $

$ 140,000

Common Stock | Nasdaq Earn-Out

Description Of Business

Marketable securities | $

$ 166,000

$ 121,900

Shares settled (in shares) | shares

944,329

6,222,340

Marketable securities | $

$ 98,600

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

Description Of Business

Shares redeemed or exchanged (in shares) | shares

8,300,000

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

Description Of Business

Shares redeemed or exchanged (in shares) | shares

23,200,000

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

Description Of Business

Shares redeemed or exchanged (in shares) | shares

8,000,000

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

Description Of Business

Shares redeemed or exchanged (in shares) | shares

17,400,000

Nasdaq Omx | Maximum

Description Of Business

Shares received from transaction (in shares) | shares

992,247

Nasdaq Omx | eSpeed

Description Of Business

Purchase consideration paid in cash | $

$ 750,000

Period for expected payment under Common stock transaction

15 years

Amount recognized in connection with the earn-out including other income (loss) (in shares) | shares

10,200,000

Shares sold under common stock transactions (in shares) | shares

7,600,000

Common stock transactions, realized gain and dividend income | $

$ 1,474,200

Nasdaq Omx | eSpeed | Maximum | BGC Partners Inc

Description Of Business

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

14,883,705

Nasdaq Omx | eSpeed | Minimum | BGC Partners Inc

Description Of Business

Gross revenue on expected payment per year under common stock transaction | $

$ 25,000

RBC | Newmark OpCo

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

RBC | eSpeed

Description Of Business

Shares delivered under common stock transactions (in shares) | shares

2,600,000

Limited Partnership Interests_2

Limited Partnership Interests in Newmark Holdings and BGC Holdings (Details) shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 tranche shares	Jun. 30, 2023 tranche shares	Dec. 13, 2017
Related Party Transaction
Limited partnership units exchange ratio	0.4545	0.4545
Payout period for post-termination awards		4 years
Percentage to preferred units	0.6875%
Pecentage to preferred units per calendar year		2.75%
Non Distribution Earning Units
Related Party Transaction
Award vesting period		4 years
Class A Common Stock
Related Party Transaction
Limited partnership units exchange ratio			1
NEWMARK Group Inc Parent | Class A Common Stock
Related Party Transaction
Limited partnership units exchange ratio	0.9235	0.9235
NEWMARK Group Inc Parent | Class B Common Stock
Related Party Transaction
Exchangeable preferred limited partnership units (in shares) | shares	24.9	24.9
Newmark OpCo | RBC
Related Party Transaction
Exchangeable preferred limited partnership units, number of tranches | tranche	4	4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Provision (reversal) for expected credit losses	$ (800)	$ (300)	$ 800	$ (100)
Guaranty liabilities	28,500		28,500		$ 27,729	$ 25,989
Allowance for doubtful accounts, period increase	1,300	$ 2,100	1,100	$ 4,000
Allowance for doubtful accounts	22,000		22,000		20,900
Allowance for credit loss	$ 2,200		$ 2,200		$ 1,400
Number of operating segments | segment			1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from External Customer
Revenues	$ 585,844	$ 755,351	$ 1,106,643	$ 1,433,599
Management services, servicing fees and other
Revenue from External Customer
Revenues	240,660	233,685	452,952	466,804
Leasing and other commissions
Revenue from External Customer
Revenues	203,611	212,825	396,917	411,778
Investment sales
Revenue from External Customer
Revenues	77,604	209,053	149,597	361,167
Commercial mortgage origination, net
Revenue from External Customer
Revenues	$ 63,969	$ 99,788	$ 107,177	$ 193,850

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands			6 Months Ended	12 Months Ended
	May 03, 2022 USD ($)	Apr. 01, 2022 company	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 10, 2023 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition
Goodwill			$ 775,855	$ 705,894		$ 657,131
Number of businesses acquired | company		2
Gerald Eve
Business Acquisition
Goodwill			75,600		$ 75,638
Business acquisition, amount deductible for tax			54,800
Business acquisition, aggregate revenue contribution			33,400
Net assets acquired					$ 113,015
2022 Business Acquisitions
Business Acquisition
Cash and stock issued at closing	$ 65,533			65,500
Goodwill	50,756			50,800
Business acquisition, amount deductible for tax				35,100
Business acquisition, aggregate revenue contribution				17,800
Net assets acquired	$ 72,855			$ 72,900
Restricted Stock Units | Gerald Eve
Business Acquisition
Shares issued as compensation			$ 113,000

Acquisitions - Summary of Compo

Acquisitions - Summary of Components of Purchase Consideration Transferred and Preliminary Allocation of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			6 Months Ended	12 Months Ended
	Mar. 10, 2023	May 03, 2022	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Allocations
Goodwill			$ 775,855	$ 705,894	$ 657,131
Gerald Eve
Purchase Price
Cash	$ 101,152		101,200
Contingent consideration	11,863		11,900
Total	113,015
Allocations
Cash	18,616
Goodwill	75,638		$ 75,600
Other intangible assets, net	23,472
Receivables, net	30,995
Fixed Assets, net	6,279
Other assets	1,829
Right-of-use assets	19,472
Right-of-use liabilities	(20,925)
Accrued compensation	(22,075)
Accounts payable, accrued expenses and other liabilities	(20,286)
Net assets acquired	$ 113,015
2022 Business Acquisitions
Purchase Price
Contingent consideration		$ 7,322		7,300
Cash and stock issued at closing		65,533		65,500
Total		72,855
Allocations
Cash		1,286
Goodwill		50,756		50,800
Other intangible assets, net		19,633
Receivables, net		3,625
Other assets		290
Right-of-use assets		4,305
Right-of-use liabilities		(4,305)
Accrued compensation		(2,175)
Accounts payable, accrued expenses and other liabilities		(560)
Net assets acquired		$ 72,855		$ 72,900

Earnings Per Share and Weight_3

Earnings Per Share and Weighted-Average Shares Outstanding - Calculation of Basic Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic earnings per share
Net income available to common stockholders	$ 6,429	$ 48,519	$ (3,921)	$ 48,881
Basic weighted-average shares of common stock outstanding (in shares)	173,939	183,948	173,254	186,401
Basic earnings per share (in usd per share)	$ 0.04	$ 0.26	$ (0.02)	$ 0.26

Earnings Per Share and Weight_4

Earnings Per Share and Weighted-Average Shares Outstanding - Calculation of Fully Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fully diluted earnings per share:
Net income available to common stockholders	$ 6,429	$ 48,519	$ (3,921)	$ 48,881
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	2,421	14,860	0	14,567
Net income for fully diluted shares	$ 8,850	$ 63,379	$ (3,921)	$ 63,448
Weighted-average shares:
Common stock outstanding (in shares)	173,939	183,948	173,254	186,401
Partnership units (units)	69,633	58,917	0	57,576
RSUs (Treasury stock method) (units)	879	3,067	0	4,475
Newmark exchange shares (in shares)	503	2,053	0	2,006
Fully diluted weighted-average shares of common stock outstanding (in shares)	244,954	247,985	173,254	250,458
Fully diluted earnings per share (in usd per share)	$ 0.04	$ 0.26	$ (0.02)	$ 0.25

Earnings Per Share and Weight_5

Earnings Per Share and Weighted-Average Shares Outstanding - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of fully diluted earnings per share amount (in shares)	5.8	0.6	74.1	0.8

Stock Transactions and Unit R_3

Stock Transactions and Unit Redemptions - Narrative (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) class vote shares $ / shares	Mar. 31, 2023 shares	Dec. 31, 2022 $ / shares shares	Jun. 30, 2022 shares	Mar. 31, 2022 shares	Feb. 10, 2022 USD ($)	Dec. 31, 2021 shares	Feb. 17, 2021 shares
Class of Stock
Number of authorized classes of common stock | class	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
Common stock, shares authorized (in shares)	1,000,000,000		1,000,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.01		$ 0.01
Common stock, shares outstanding (in shares)	152,234,598	153,142,810	150,384,605	160,002,640	168,557,363		168,272,371
Remaining from debt repurchase authorization | $	$ 378,900
Class B Common Stock
Class of Stock
Common stock, votes per share | vote	10
Common stock, shares authorized (in shares)	500,000,000		500,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.01		$ 0.01
Conversion of common stock (in shares)	1
Common stock, shares outstanding (in shares)	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 (Details) - shares	1 Months Ended				3 Months Ended		6 Months Ended
	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share issuances:
Other (in shares)					1,051	51,314
Class A Common Stock
Increase (Decrease) in Stockholders' Equity
Shares outstanding at beginning of period (in shares)			153,142,810	150,384,605	153,142,810	168,557,363	150,384,605	168,272,371
Share issuances:
LPU redemption/exchange (in shares)					1,158,346	2,395,043	3,086,251	3,329,911
Other (in shares)							(154,189)	64,835
Treasury stock repurchases (in shares)	(38,330)	(2,315,213)	(674)	0	(2,354,217)	(11,370,647)	(2,354,217)	(13,053,518)
Shares outstanding at end of period (in shares)	152,234,598				152,234,598	160,002,640	152,234,598	160,002,640
Class A Common Stock | Restricted Stock Units
Share issuances:
Issuance of Class A common stock for Newmark RSUs (in shares)					286,608	369,567	1,272,148	1,389,041

Stock Transactions and Unit R_5

Stock Transactions and Unit Redemptions - Schedule of Changes in Carrying Amount of Redeemable Partnership Interest (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Increase (Decrease) in Temporary Equity
Balance at beginning of period:	$ 16,550	$ 20,947
Income allocation	0	2,272
Distributions of income	(380)	(5,130)
Issuance and other	(1,103)	$ (1,539)
Balance at end of period	$ 15,067

Stock Transactions and Unit R_6

Stock Transactions and Unit Redemptions - Schedule of Share Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended		6 Months Ended
	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Feb. 10, 2022
Class of Stock
Approximate Dollar Value of Units and Shares That May Yet Be Repurchased/ Purchased Under the  Program									$ 400,000
Class A Common Stock
Class of Stock
Total number of shares repurchased/purchased (in shares)	38,330	2,315,213	674	0	2,354,217	11,370,647	2,354,217	13,053,518
Average price paid per share (in dollars per share)	$ 5.75	$ 5.67	$ 7.08	$ 0			$ 5.68
Approximate Dollar Value of Units and Shares That May Yet Be Repurchased/ Purchased Under the  Program	$ 378,900				$ 378,900		$ 378,900

Marketable Securities (Details)

Marketable Securities (Details) - USD ($)						3 Months Ended			6 Months Ended		36 Months Ended
	Jul. 02, 2021	Jun. 25, 2021	Nov. 30, 2020	Dec. 02, 2019	Jun. 28, 2013	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Nov. 30, 2019
Marketable Securities
Shares settled (in shares)	944,329		741,505	898,685
Investment owned shares settled fair value	$ 166,000,000		$ 93,500,000	$ 93,500,000
Shares owned (in shares)	5,278,011		250,742	93,562
Gross proceeds from sale of marketable securities									$ 0	$ 437,820,000
Realized gain (loss) on marketable securities									0	(7,470,000)
Unrealized gain (loss) on marketable securities									(478,000)	(80,130,000)
Marketable securities						$ 310,000			$ 310,000			$ 788,000
Common Stock
Marketable Securities
Amount recognized in connection with the earn-out including other income (loss) (in shares)											992,247
Common Stock | Nasdaq
Marketable Securities
Marketable securities													$ 1,093,900,000
Number of shares sold in transaction (in shares)								2,497,831	0
Gross proceeds from sale of marketable securities										437,800,000
Realized gain (loss) on marketable securities									$ 0	(7,500,000)
Unrealized gain (loss) on marketable securities									0	(80,100,000)
Common Stock | Securites In Public Entities
Marketable Securities
Realized gain (loss) on marketable securities						0	$ 0		0	0
Unrealized gain (loss) on marketable securities						$ (100,000)	$ 0		$ (500,000)	$ 0
Common Stock | Nasdaq Earn-Out
Marketable Securities
Shares settled (in shares)	944,329	6,222,340
Marketable securities	$ 166,000,000		$ 121,900,000
Marketable securities														$ 98,600,000
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					7 years
BGC Partners Inc | Nasdaq Omx
Marketable Securities
Period for earn-out receivable under common stock transaction					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)	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2022 USD ($) d	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jul. 20, 2022 USD ($)	Sep. 08, 2017 USD ($)
Schedule of Equity Method Investments
Equity income of subsidiaries		$ 5,000,000	$ 0	$ 8,535,000	$ 0
Equity method investment	$ 91,300,000	99,800,000		99,800,000
Unrealized gain (loss)			(15,500,000)	0	(13,945,000)
Realized gain (loss) on marketable securities		0	0	0	1,600,000
Payments to acquire investments			$ 300,000		$ 2,700,000
Debt securities	$ 8,688,000	7,691,000		7,691,000
Maximum
Schedule of Equity Method Investments
Unrealized gain (loss)		$ 1,000,000		$ (1,000,000)
Cantor | Corporate Joint Venture
Schedule of Equity Method Investments
Equity method investment, expected redemption proceeds						$ 88,400,000
CF Real Estate Finance Holdings, L.P.
Schedule of Equity Method Investments
Equity method investment ownership percentage		27%		27%
Equity method investment							$ 100,000,000
Rescission of ownership percentage by parent	27.20%
Redemption notice, threshold trading days | d	20
Payment for administrative fees	$ 44,000

Capital and Liquidity Require_2

Capital and Liquidity Requirements (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Compliance with Regulatory Capital Requirements under Banking Regulations
Percentage of Freddie Mac's liquidity requirement of outstanding principal of TAH loans serviced	8%	8%
Outstanding borrower advances	$ 0.8	$ 1.3
Seller/Servicer Agreements
Compliance with Regulatory Capital Requirements under Banking Regulations
Amount of capital in excess of aggregate regulatory requirements	$ 433.9	$ 433.4

Loans Held for Sale, at Fair _3

Loans Held for Sale, at Fair Value - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance [Abstract]
Maximum period of loans held for sale sold	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 (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable
Loans held for sale, at fair value	$ 936,970	$ 138,345
Cost Basis
Accounts, Notes, Loans and Financing Receivable
Loans held for sale, at fair value	941,457	137,633
Fair Value
Accounts, Notes, Loans and Financing Receivable
Loans held for sale, at fair value	$ 936,970	$ 138,345

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance [Abstract]
Interest income on loans held for sale	$ 10,135	$ 5,162	$ 12,273	$ 10,106
Gains (losses) recognized on change in fair value on loans held for sale	$ (10,675)	$ 10,862	$ (4,487)	$ 11,827

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Contracts (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	$ 22,577,000	$ 14,320,000
Liabilities	2,821,000	9,378,000
Notional Amounts	1,126,191,000	419,028,000
Rate lock commitments
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	2,092,000	3,181,000
Liabilities	2,749,000	8,754,000
Notional Amounts	92,367,000	140,697,000
Forward sale contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Assets	20,485,000	11,139,000
Liabilities	72,000	624,000
Notional Amounts	$ 1,033,824,000	$ 278,331,000

Derivatives - Summary of Gains

Derivatives - Summary of Gains Losses on Derivative Contracts Included in Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (loss), net	Other income (loss), net
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	$ 12,789	$ (13,067)	$ 19,756	$ 4,133
Not Designated as Hedging Instrument | Rate lock commitments | Commercial mortgage origination, net
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	(7,167)	(2,198)	(100)	(5,167)
Not Designated as Hedging Instrument | Rate lock commitments | Compensation and employee benefits
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	1,238	1,123	(558)	(224)
Not Designated as Hedging Instrument | Forward sale contracts
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income for derivatives	$ 18,718	$ (11,992)	$ 20,414	$ 9,524

Revenues from Contracts with _3

Revenues from Contracts with Customers - Schedule of Revenues from Contracts with Customers and Our Other Sources of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue
Revenues from contracts with customers	$ 478,706	$ 653,533	$ 923,255	$ 1,235,949
Revenues	585,844	755,351	1,106,643	1,433,599
Leasing and other commissions
Disaggregation of Revenue
Revenues from contracts with customers	203,611	212,825	396,917	411,778
Revenues	203,611	212,825	396,917	411,778
Investment sales
Disaggregation of Revenue
Revenues from contracts with customers	77,604	209,053	149,597	361,167
Revenues	77,604	209,053	149,597	361,167
Mortgage brokerage and debt placement
Disaggregation of Revenue
Revenues from contracts with customers	19,330	50,326	36,476	96,615
Management services
Disaggregation of Revenue
Revenues from contracts with customers	178,161	181,329	340,265	366,389
Fair value of expected net future cash flows from servicing recognized at commitment, net
Disaggregation of Revenue
Other sources of revenue	23,046	31,499	37,145	60,971
Loan originations related fees and sales premiums, net
Disaggregation of Revenue
Other sources of revenue	21,593	17,963	33,556	36,264
Servicing fees and other
Disaggregation of Revenue
Other sources of revenue	$ 62,499	$ 52,356	$ 112,687	$ 100,415

Revenues from Contracts with _4

Revenues from Contracts with Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 2,500		$ 2,500		$ 2,900
Deferred revenue, revenue recognized	1,500	$ 900	3,000	$ 1,800
Revenue, remaining performance obligation, amount	$ 165,403		$ 165,403

Revenues from Contracts with _5

Revenues from Contracts with Customers - Schedule of Revenue Remaining Performance Obligation (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 165,403
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 56,753
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 60,550
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 30,067
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 9,595
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 4,918
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 3,520
Revenue, remaining performance obligation, expected timing of satisfaction, period

Commercial Mortgage Originati_3

Commercial Mortgage Origination, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue
Revenues from contracts with customers	$ 478,706	$ 653,533	$ 923,255	$ 1,235,949
Commercial mortgage origination, net
Disaggregation of Revenue
Revenues from contracts with customers	63,969	99,788	107,177	193,850
Fair value of expected net future cash flows from servicing recognized at commitment, net
Disaggregation of Revenue
Other sources of revenue	23,046	31,499	37,145	60,971
Loan originations related fees and sales premiums, net
Disaggregation of Revenue
Other sources of revenue	21,593	17,963	33,556	36,264
Mortgage brokerage and debt placement
Disaggregation of Revenue
Revenues from contracts with customers	$ 19,330	$ 50,326	$ 36,476	$ 96,615

Mortgage Servicing Rights, Ne_2

Mortgage Servicing Rights, Net - Summary of Changes in the Carrying Amount of Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Valuation Allowance
Net Balance	$ 544,531		$ 544,531		$ 568,552
Mortgage Servicing Rights
Mortgage Servicing Rights
Beginning Balance	556,916	$ 571,581	576,428	$ 563,488
Additions	22,654	35,426	31,619	71,626
Amortization	(29,007)	(29,059)	(57,484)	(57,166)
Ending Balance	550,563	577,948	550,563	577,948
Valuation Allowance
Beginning Balance	(6,375)	(11,986)	(7,876)	(13,186)
Decrease	343	2,718	1,844	3,918
Ending Balance	(6,032)	(9,268)	(6,032)	(9,268)
Net Balance	$ 544,531	$ 568,680	$ 544,531	$ 568,680

Mortgage Servicing Rights, Ne_3

Mortgage Servicing Rights, Net - Schedule of Servicing Fees and Escrow Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Transfers and Servicing [Abstract]
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration]			Revenues	Revenues
Servicing fees	$ 37,711	$ 37,089	$ 74,617	$ 73,034
Escrow interest and placement fees	12,657	2,389	$ 22,748	$ 3,406
Ancillary Fee Income, Servicing Financial Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]			Revenues	Revenues
Ancillary fees	1,829	7,482	$ 2,760	$ 13,156
Total servicing fees and escrow interest	$ 52,197	$ 46,960	$ 100,125	$ 89,596

Mortgage Servicing Rights, Ne_4

Mortgage Servicing Rights, Net - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Mortgage Servicing Rights
Primary servicing portfolio	$ 69,300	$ 69,000
Special servicing portfolio	1,700	1,700
Discount Rate One
Mortgage Servicing Rights
Decrease in fair value of servicing rights	17.6	18.3
Discount Rate Two
Mortgage Servicing Rights
Decrease in fair value of servicing rights	$ 34.3	$ 35.7
Minimum
Mortgage Servicing Rights
Discount rates used in measuring fair value	6.10%	6.10%
Minimum | Discount Rate One
Mortgage Servicing Rights
Increase in discount rate	1%	1%
Maximum
Mortgage Servicing Rights
Discount rates used in measuring fair value	13.50%	13.50%
Maximum | Discount Rate Two
Mortgage Servicing Rights
Increase in discount rate	2%	2%
Mortgage Servicing Rights
Mortgage Servicing Rights
Estimated fair value of MSRs	$ 658.1	$ 667.6

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Summary of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Goodwill
Beginning balance	$ 705,894	$ 657,131
Acquisitions	75,638	50,756
Divestiture	(9,222)
Measurement period and currency translation adjustments	3,545	(1,993)
Ending balance	$ 775,855	$ 705,894

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss					$ 0
Divestiture			$ 9,222,000
Intangible amortization expense	$ 4,600,000	$ 4,800,000	$ 8,000,000	$ 7,400,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, accumulated amortization	$ (48,358)	$ (46,142)
Weighted- Average Remaining Life (Years)	4 years 8 months 12 days	5 years 10 months 24 days
Gross amount	$ 140,877	$ 127,110
Net carrying amount	92,519	80,968
Trademark and trade names
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	16,360	12,893
Definite life, accumulated amortization	(9,283)	(8,103)
Definite life, net carrying amount	$ 7,077	$ 4,790
Weighted- Average Remaining Life (Years)	2 years 4 months 24 days	2 years 4 months 24 days
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	(16,066)	(14,995)
Definite life, net carrying amount	$ 14,065	$ 15,136
Weighted- Average Remaining Life (Years)	8 years 3 months 18 days	8 years 7 months 6 days
License agreements
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount		$ 4,981
Definite life, accumulated amortization		(4,981)
Definite life, net carrying amount		$ 0
Weighted- Average Remaining Life (Years)		0 years
Non-compete agreements
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	$ 12,523	$ 9,557
Definite life, accumulated amortization	(5,949)	(5,113)
Definite life, net carrying amount	$ 6,574	$ 4,444
Weighted- Average Remaining Life (Years)	4 years 6 months	3 years 1 month 6 days
Contractual customers
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	$ 60,572	$ 48,257
Definite life, accumulated amortization	(14,535)	(10,690)
Definite life, net carrying amount	$ 46,037	$ 37,567
Weighted- Average Remaining Life (Years)	4 years	5 years 8 months 12 days
Other
Schedule of Acquired Finite And Indefinite Lived Intangible Asset By Major Class
Definite life, gross amount	$ 4,551	$ 4,551
Definite life, accumulated amortization	(2,525)	(2,260)
Definite life, net carrying amount	$ 2,026	$ 2,291
Weighted- Average Remaining Life (Years)	11 years 4 months 24 days	12 years 4 months 24 days
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
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 (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2023	$ 9,121
2024	17,798
2025	16,363
2026	12,820
2027	8,826
Thereafter	10,851
Total	$ 75,779

Fixed Assets, Net - Components

Fixed Assets, Net - Components of Fixed Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment
Fixed assets, gross	$ 319,221	$ 286,718
Accumulated depreciation and amortization	(142,407)	(131,079)
Fixed assets, net	176,814	155,639
Leasehold improvements, furniture and fixtures, and other fixed assets
Property, Plant and Equipment
Fixed assets, gross	233,645	207,020
Software, including software development costs
Property, Plant and Equipment
Fixed assets, gross	53,394	48,112
Computer and communications equipment
Property, Plant and Equipment
Fixed assets, gross	$ 32,182	$ 31,586

Fixed Assets, Net - Narrative (

Fixed Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment
Depreciation expense	$ 9.6	$ 8.5	$ 18.7	$ 15.2
Impairment charges	0.5		$ 1.4
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]			Depreciation and amortization	Depreciation and amortization
Software, including software development costs
Property, Plant and Equipment
Software development costs capitalized	3.4	0.7	$ 6.3	$ 1.1
Amortization of software development costs	$ 0.7	$ 0.4	$ 1.3	$ 0.7

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Lessee, Lease, Description
Operating lease, liability, including sublease receivables	$ 739,800,000		$ 739,800,000		$ 723,900,000
Operating lease, liability	728,955,000		728,955,000		712,849,000
Operating lease, liability, portion ring-fenced by special purpose vehicles	36,600,000		36,600,000		36,500,000
Operating lease, future contracted revenues and sublease income			176,200,000		$ 183,700,000
Operating lease costs	34,300,000	$ 31,300,000	68,400,000	$ 56,700,000
Operating lease payments			61,400,000	52,900,000
Short-term lease expense	200,000	300,000	300,000	100,000
Sublease income	800,000	200,000	1,500,000	200,000
Lease impairment	$ 0	0	$ 0	0
Weighted average discount rate	4.73%		4.73%		4.61%
Weighted average lease term	6 years 9 months 18 days		6 years 9 months 18 days		7 years
Right-of-use assets	$ 640,125,000		$ 640,125,000		$ 638,592,000
Right-of-use liabilities	$ 101,426,000		$ 101,426,000		$ 96,860,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable, accrued expenses and other liabilities (see Note 27)		Accounts payable, accrued expenses and other liabilities (see Note 27)		Accounts payable, accrued expenses and other liabilities (see Note 27)
Right-of-use liabilities, non-current	$ 638,340,000		$ 638,340,000		$ 627,088,000
Rent expense	41,000,000	$ 35,400,000	80,500,000	$ 72,100,000
Management services, servicing fees and other
Lessee, Lease, Description
Operating lease, liability	$ 196,600,000		$ 196,600,000		$ 188,000,000
Minimum
Lessee, Lease, Description
Remaining lease terms	1 year		1 year
Options to extend leases	1 year		1 year
Maximum
Lessee, Lease, Description
Remaining lease terms	11 years		11 years
Options to extend leases	10 years		10 years

Leases - Schedule of Lease Paym

Leases - Schedule of Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due
2023	$ 64,944	$ 125,633
2024	133,277	127,996
2025	132,291	126,234
2026	127,263	121,596
2027	118,338	110,997
Thereafter	300,991	242,185
Total lease payments	877,104	854,641
Less: Interest	148,149	141,792
Present value of lease liability	$ 728,955	$ 712,849

Other Current Assets and Othe_3

Other Current Assets and Other Assets - Summary of Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Assets [Abstract]
Derivative assets	$ 22,577	$ 14,320
Equity method investment	99,815	0
Prepaid expenses	51,555	40,393
Other taxes	22,536	21,988
Rent and other deposits	21,514	19,284
Other	1,122	4,203
Total other current assets	$ 219,119	$ 100,188

Other Current Assets and Othe_4

Other Current Assets and Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Assets [Abstract]
Deferred tax assets	$ 94,595	$ 94,689
Equity method investment	0	91,280
Non-marketable investments	7,691	8,688
Other tax receivables	5,280	6,683
Other	22,497	12,926
Total	$ 130,063	$ 214,266

Warehouse Facilities Collater_3

Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Securities Financing Transaction
Outstanding draws	$ 931,472,000	$ 137,406,000
Committed Lines
Securities Financing Transaction
Lines available	1,550,000,000
Uncommitted Lines
Securities Financing Transaction
Lines available	800,000,000
Warehouse facility due June 12, 2024 Number 1
Securities Financing Transaction
Outstanding draws	$ 0	0
Warehouse facility due June 12, 2024 Number 1 | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.45%
Warehouse facility due June 12, 2024 Number 1 | Committed Lines
Securities Financing Transaction
Lines available	$ 450,000,000
Warehouse facility due June 12, 2024 Number 2
Securities Financing Transaction
Outstanding draws	$ 0	0
Warehouse facility due June 12, 2024 Number 2 | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.45%
Warehouse facility due June 12, 2024 Number 2 | Uncommitted Lines
Securities Financing Transaction
Lines available	$ 300,000,000
Warehouse facility due September 25, 2023 Number 1
Securities Financing Transaction
Outstanding draws	$ 204,021,000	35,292,000
Warehouse facility due September 25, 2023 Number 1 | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.30%
Warehouse facility due September 25, 2023 Number 1 | Committed Lines
Securities Financing Transaction
Lines available	$ 300,000,000
Warehouse facility due September 25, 2023 Number 2
Securities Financing Transaction
Outstanding draws	$ 0	0
Warehouse facility due September 25, 2023 Number 2 | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.30%
Warehouse facility due September 25, 2023 Number 2 | Uncommitted Lines
Securities Financing Transaction
Lines available	$ 100,000,000
Warehouse facility due October 7, 2022
Securities Financing Transaction
Outstanding draws	$ 719,451,000	102,114,000
Warehouse facility due October 7, 2022 | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.30%
Warehouse facility due October 7, 2022 | Committed Lines
Securities Financing Transaction
Lines available	$ 800,000,000
Warehouse facility due October 7, 2022 | Committed Lines | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.80%
Warehouse facility due October 7, 2022 | Sublimit Lines
Securities Financing Transaction
Lines available	$ 125,000,000
Outstanding draws	0	0
Fannie Mae repurchase agreement, open maturity
Securities Financing Transaction
Outstanding draws	$ 8,000,000	$ 0
Fannie Mae repurchase agreement, open maturity | SOFR
Securities Financing Transaction
Basis spread on variable rate	1.15%
Fannie Mae repurchase agreement, open maturity | Uncommitted Lines
Securities Financing Transaction
Lines available	$ 400,000,000

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 16, 2020	Mar. 28, 2019	Nov. 06, 2018
Debt Instrument
Debt	$ 774,088	$ 547,784
6.125% Senior Notes
Debt Instrument
Stated interest rate				6.125%
Senior Notes | 6.125% Senior Notes
Debt Instrument
Debt	$ 549,088	547,784
Stated interest rate	6.125%		6.125%		6.125%
Line of Credit | Revolving Credit Facility
Debt Instrument
Debt	$ 225,000	$ 0
Stated interest rate	6.77%

Debt - Senior Notes Narrative (

Debt - Senior Notes Narrative (Details) - 6.125% Senior Notes - USD ($)	Jun. 30, 2023	Jun. 16, 2020	Mar. 28, 2019	Nov. 06, 2018	Nov. 01, 2018
Debt Instrument
Stated interest rate			6.125%
Senior Notes
Debt Instrument
Stated interest rate	6.125%	6.125%		6.125%
Debt instrument face amount				$ 550,000,000
Debt price level					98.94%
Debt instrument yield				6.375%

Debt - Senior Notes Carrying Am

Debt - Senior Notes Carrying Amount (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Details for the Senior Notes
Total	$ 774,088	$ 547,784
Senior Notes | 6.125% Senior Notes
Details for the Senior Notes
Principal balance	550,000	550,000
Less: debt issue cost	478	1,120
Less: debt discount	434	1,096
Total	$ 549,088	$ 547,784

Debt - Senior Notes Net Interes

Debt - Senior Notes Net Interest Expense (Details) - Senior Notes - 6.125% Senior Notes - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest Expense and Amortization of Debt Issue Costs
Interest expense	$ 8,422	$ 8,735	$ 16,844	$ 17,464
Debt issue cost amortization	321	321	642	642
Debt discount amortization	333	313	661	621
Total	$ 9,076	$ 9,369	$ 18,147	$ 18,727

Debt - Debt Repurchase Program

Debt - Debt Repurchase Program Narrative (Details) - USD ($)	Jun. 30, 2023	Jun. 16, 2020	Mar. 28, 2019	Nov. 06, 2018
Equity, Class of Treasury Stock
Remaining from debt repurchase authorization	$ 50,000,000
6.125% Senior Notes
Equity, Class of Treasury Stock
Stated interest rate			6.125%
6.125% Senior Notes | Senior Notes
Equity, Class of Treasury Stock
Authorized amount		$ 50,000,000
Stated interest rate	6.125%	6.125%		6.125%

Debt - Credit Facility Narrativ

Debt - Credit Facility Narrative (Details) - USD ($)						1 Months Ended	6 Months Ended
	Jul. 20, 2023	Mar. 10, 2022	Mar. 16, 2020	Feb. 26, 2020	Nov. 28, 2018	Jul. 31, 2021	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Line of Credit Facility
Long-term line of credit								$ 0	$ 0
Line of Credit | Revolving Credit Facility
Line of Credit Facility
Maximum revolving credit		$ 600,000,000	$ 465,000,000	$ 425,000,000	$ 250,000,000
Long-term debt term					3 years
Repayments of long-lerm debt						$ 140,000,000
Stated interest rate							6.77%
Long-term line of credit							$ 225,000,000
Line of Credit | Revolving Credit Facility | Subsequent Event
Line of Credit Facility
Repayments of long-lerm debt	$ 100,000,000
LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate			1.75%	1.75%
SOFR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate		1.50%
Interest Rate Option Two | Federal Funds Rate | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					0.50%
Interest Rate Option Two | One-month LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					1%
Interest Rate Option Two | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					2%
Interest Rate Option One | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					1%
Minimum | Interest Rate Option Two | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					1.25%
Minimum | Interest Rate Option One | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					0.25%
Maximum | Interest Rate Option Two | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					2.25%
Maximum | Interest Rate Option One | LIBOR | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Basis spread on variable rate					1.25%
Weighted Average | Line of Credit | Revolving Credit Facility
Line of Credit Facility
Interest rate in the period							5.04%

Debt - Credit Facility Net Inte

Debt - Credit Facility Net Interest Expense (Details) - Revolving Credit Facility - Line of Credit - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest Expense and Amortization of Debt Issue Costs
Interest expense	$ 4,018	$ 0	$ 5,277	$ 0
Debt issue cost amortization	264	0	711	0
Unused facility fee	182	334	452	634
Total	$ 4,464	$ 334	$ 6,440	$ 634

Debt - Credit Facility Net (Det

Debt - Credit Facility Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Details for the Credit Facility
Debt	$ 225,000	$ 0

Financial Guarantee Liability -

Financial Guarantee Liability - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($) loan	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) loan	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) loan
Guarantor Obligations
Outstanding loan balances	$ 28,200,000		$ 28,200,000		$ 27,600,000
Maximum loss potential	8,600,000		8,600,000		8,400,000
Provision (reversal) for expected credit losses	(200)	$ 300	2,583	$ 100	1,740
Financial guarantee liability, settlment loss					1,200
Financial guarantee liability, settlement loss, write off					600
Delinquent
Guarantor Obligations
Outstanding loan balances	7,300		7,300		7,300
Maximum loss potential	$ 2,400		$ 2,400		$ 2,400
Number of loans | loan	1		1		1
Liquidation value of loans outstanding	$ 7,500		$ 7,500		$ 4,200
Potential loss on liquidation of loan			$ 500		1,100
Foreclosure
Guarantor Obligations
Outstanding loan balances					22,800
Maximum loss potential					$ 7,600
Number of loans | loan					1
Liquidation value of loans outstanding					$ 20,000
Potential loss on liquidation of loan					$ 1,500
Fannie Mae DUS or Freddie TAH Loans | Maximum
Guarantor Obligations
Percentage of contingent liability of actual losses incurred on outstanding loans			33%

Financial Guarantee Liability_2

Financial Guarantee Liability - Summary of Changes on Estimated Liability Under Guarantee Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Guaranty LIability:
Beginning balance			$ 27,729	$ 25,989	$ 25,989
Provision for expected credit losses	$ (200)	$ 300	2,583	$ 100	1,740
Credit loss settlement			(1,812)
Ending balance	$ 28,500		$ 28,500		$ 27,729

Concentrations of Credit Risk (

Concentrations of Credit Risk (Details) - Fannie Mae DUS and Freddie Mac TAH Loans - Liabilities - Credit Concentration Risk - USD ($) $ in Billions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Concentration Risk
Maximum DB Cayman credit protection	$ 8.6	$ 8.4
California
Concentration Risk
Concentration risk percentage	20%	20%
Texas
Concentration Risk
Concentration risk percentage	12%	11%

Escrow and Custodial Funds (Det

Escrow and Custodial Funds (Details) - USD ($) $ in Billions	Jun. 30, 2023	Dec. 31, 2022
Deposit Assets Disclosure [Abstract]
Escrow funds amount	$ 1.4	$ 1

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	Jun. 30, 2023	Dec. 31, 2022
Assets:
Marketable securities	$ 310	$ 788
Loans held for sale, at fair value	936,970	138,345
Total assets	959,857	153,453
Liabilities:
Contingent consideration	20,703	8,343
Total Liabilities	23,524	17,721
Rate lock commitments
Assets:
Derivative asset	2,092	3,181
Liabilities:
Derivative liability	2,749	8,754
Forward sale contracts
Assets:
Derivative asset	20,485	11,139
Liabilities:
Derivative liability	72	624
Level 1
Assets:
Marketable securities	310	788
Loans held for sale, at fair value	0	0
Total assets	310	788
Liabilities:
Contingent consideration	0	0
Total Liabilities	0	0
Level 1 | Rate lock commitments
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 1 | Forward sale contracts
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 2
Assets:
Marketable securities	0	0
Loans held for sale, at fair value	936,970	138,345
Total assets	936,970	138,345
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 | Forward sale contracts
Assets:
Derivative asset	0	0
Liabilities:
Derivative liability	0	0
Level 3
Assets:
Marketable securities	0	0
Loans held for sale, at fair value	0	0
Total assets	22,577	14,320
Liabilities:
Contingent consideration	20,703	8,343
Total Liabilities	23,524	17,721
Level 3 | Rate lock commitments
Assets:
Derivative asset	2,092	3,181
Liabilities:
Derivative liability	2,749	8,754
Level 3 | Forward sale contracts
Assets:
Derivative asset	20,485	11,139
Liabilities:
Derivative liability	$ 72	$ 624

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	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Assets, Unobservable Input Reconciliation:
Opening Balance	$ 14,320	$ 8,501
Total realized and unrealized gains (losses) included in Net income	22,577	14,320
Additions	0	0
Settlements	(14,320)	(8,501)
Closing Balance	22,577	14,320
Unrealized gains (losses) outstanding	$ 22,577	$ 14,320
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (loss), net	Other income (loss), net
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (loss), net	Other income (loss), net
Liabilities, Unobservable Input Reconciliation:
Opening Balance	$ 17,721	$ 17,354
Total realized and unrealized gains (losses) included in Net income	3,975	7,485
Additions	12,189	6,226
Settlements	(10,361)	(13,344)
Closing Balance	23,524	17,721
Unrealized gains (losses) outstanding	$ 3,975	$ 7,485
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (loss), net	Other income (loss), net
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (loss), net	Other income (loss), net
Contingent consideration
Liabilities, Unobservable Input Reconciliation:
Opening Balance	$ 8,343	$ 12,338
Total realized and unrealized gains (losses) included in Net income	1,154	(1,893)
Additions	12,189	6,226
Settlements	(983)	(8,328)
Closing Balance	20,703	8,343
Unrealized gains (losses) outstanding	1,154	(1,893)
Rate lock commitments
Assets, Unobservable Input Reconciliation:
Opening Balance	3,181	3,957
Total realized and unrealized gains (losses) included in Net income	2,092	3,181
Additions	0	0
Settlements	(3,181)	(3,957)
Closing Balance	2,092	3,181
Unrealized gains (losses) outstanding	2,092	3,181
Liabilities, Unobservable Input Reconciliation:
Opening Balance	8,754	2,836
Total realized and unrealized gains (losses) included in Net income	2,749	8,754
Additions	0	0
Settlements	(8,754)	(2,836)
Closing Balance	2,749	8,754
Unrealized gains (losses) outstanding	2,749	8,754
Forward sale contracts
Assets, Unobservable Input Reconciliation:
Opening Balance	11,139	4,544
Total realized and unrealized gains (losses) included in Net income	20,485	11,139
Additions	0	0
Settlements	(11,139)	(4,544)
Closing Balance	20,485	11,139
Unrealized gains (losses) outstanding	20,485	11,139
Liabilities, Unobservable Input Reconciliation:
Opening Balance	624	2,180
Total realized and unrealized gains (losses) included in Net income	72	624
Additions	0	0
Settlements	(624)	(2,180)
Closing Balance	72	624
Unrealized gains (losses) outstanding	$ 72	$ 624

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	$ 22,577	$ 14,320
Liabilities	2,821	9,378
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration	$ 20,703	$ 8,343
Level 3 | Minimum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.040	0.040
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	0.750	0.750
Level 3 | Maximum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.118	0.118
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	1
Level 3 | Weighted Average | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration liability, measurement input	0.042	0.051
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	0.995	0.989
Level 3 | Forward Sale Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	$ 20,485	$ 11,139
Liabilities	72	624
Level 3 | Rate lock commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets	2,092	3,181
Liabilities	$ 2,749	$ 8,754

Fair Value of Financial Asset_6

Fair Value of Financial Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities	$ 7,691	$ 8,688
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities	7,700	8,700
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration	20,703	8,343
Contingent consideration, at cost	39,400	30,900
Level 3 | Present value of expected payments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent consideration	$ 20,700	$ 8,300

Related Party Transactions - Se

Related Party Transactions - Service Agreements and Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction
Fees to related parties	$ 6,827	$ 6,748	$ 14,619	$ 13,577
Loans, forgivable loans and other receivables from employees and partners, net	628,288		628,288		$ 500,833
Labor and related expense	366,539	468,605	730,538	868,087
Cantor Fitzgerald Limited Partnership And B G C Partners Incorporation | Related Party
Related Party Transaction
Fees to related parties	6,800	6,700	14,600	13,600
Employee Loans
Related Party Transaction
Labor and related expense	$ 25,000	$ 20,700	$ 50,400	$ 39,600

Related Party Transactions - Ot

Related Party Transactions - Other Related Party Transactions (Details) - USD ($)		1 Months Ended
	Nov. 30, 2020	Feb. 28, 2019
Related Party Transactions [Abstract]
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 transaction, term of agreement	5 years

Related Party Transactions - Tr

Related Party Transactions - Transactions with CCRE (Details) - USD ($)			3 Months Ended		6 Months Ended
	Aug. 16, 2019	Jul. 22, 2019	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction
Revenues			$ 585,844,000	$ 755,351,000	$ 1,106,643,000	$ 1,433,599,000
Third Party Bank And Cantor Commercial Real Estate LP
Related Party Transaction
Amount of loan purchased by third-party (in percentage)	80%
Amount of loan retained by third-party (in percentage)	20%
Interest rate on loans receivable (in percentage)	4.38%
Real Estate Loan | Third Party Bank And Cantor Commercial Real Estate LP
Related Party Transaction
Commercial real estate loan		$ 146,600,000
Related Party | Revenue Share Agreeement
Related Party Transaction
Revenues			0	0	0	0
Related Party | Loan Referral Agreement
Related Party Transaction
Revenues			0	0	0	0
Related Party | Primary Servicing Rights
Related Party Transaction
MSR acquired			0	0	0	0
Mortgage servicing right recognized			$ 700,000	$ 900,000	$ 1,500,000	$ 1,800,000
Barry M. Gosin | Third Party Bank And Cantor Commercial Real Estate LP
Related Party Transaction
Ownership interest of loans receivable (in percentage)		19%

Related Party Transactions - _2

Related Party Transactions - Transactions With Executive Officers and Directors (Details)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

May 18, 2023 USD ($) shares

Feb. 10, 2023 USD ($) $ / shares shares

Sep. 29, 2022 USD ($) shares

Apr. 14, 2022 USD ($) $ / shares shares

Dec. 21, 2021 USD ($) $ / shares shares

Sep. 20, 2021 USD ($) shares

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

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

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

Jun. 30, 2023 $ / shares shares

May 31, 2023 $ / shares shares

Apr. 30, 2023 $ / shares shares

Jan. 31, 2023 $ / shares shares

Jun. 30, 2023 USD ($) shares

Jun. 30, 2022 USD ($) shares

Jun. 30, 2023 USD ($) $ / shares shares

Jun. 30, 2022 USD ($) shares

Dec. 31, 2021 USD ($)

Dec. 31, 2022 USD ($)

Dec. 13, 2017

Related Party Transaction

Stock issued during period, value | $

$ 1,760,000

$ 863,000

$ 1,760,000

$ 863,000

Related party transaction, award payment term

3 years

Limited partnership units exchange ratio

0.4545

0.4545

0.4545

Class A Common Stock

Related Party Transaction

Treasury stock repurchases (in shares)

38,330

2,315,213

674

0

2,354,217

11,370,647

2,354,217

13,053,518

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

$ 5.75

$ 5.67

$ 7.08

$ 0

$ 5.68

Limited partnership units exchange ratio

1

Restricted Stock Units | Class A Common Stock

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

286,608

369,567

1,272,148

1,389,041

Mr. Gosin

Related Party Transaction

Related party transaction, amounts of transaction | $

$ 15,697,309

Preferred stock, tax rate used in transaction, percent

53.13%

PSU conversion ratio

0.9365

Value of LPU issued in exchange | $

$ 5,800,000

Mr. Gosin | BGC Partners Inc

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 1,129,499

Mr. Gosin | Class A Common Stock

Related Party Transaction

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

$ 11.09

Issuance of Class A common stock for Newmark RSUs (in shares)

446,711

1,439,658

Shares issued (in dollars per share) | $ / shares

$ 16.47

Related party transaction, shares issued, exchange ratio

93.39%

Number of non exchangeable PSU redeemed (in shares)

178,232

Limited partnership units exchange ratio

0.9403

Cash payment to redeem | $

$ 834,508

Mr. Gosin | Class A Common Stock | Newmark Units

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

82,680

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

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

12,500

Cash payment to redeem | $

$ 298,273

Number of exchangeable (in shares)

3,348,706

Mr. Gosin | Non Exchangeable PSU

Related Party Transaction

Stock redeemed or called during period (in shares)

478,328

Stock redeemed or called during period, value | $

$ 0

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 PSU | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

2,114,456

Payment for exchangeable PSUs redeemed | $

$ 0

Mr. Gosin | Non Exchangeable PPSU

Related Party Transaction

Stock redeemed or called during period (in shares)

838,996

Cash payment to redeem non exchangeable shares | $

$ 8,339,980

Related party transaction, amounts of transaction | $

7,357,329

Mr. Gosin | Non Exchangeable PPSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable PSU redeemed (in shares)

2,114,546

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 A P S U

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

30,871

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 | $

$ 5,362,452

Mr. Gosin | Non Exchangeable HDU | BGC Partners Inc

Related Party Transaction

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

$ 3.89

Number of non exchangeable HUD (in shares)

1,592,016

Mr. Gosin | Non Exchangeable HDU | Class A Common Stock | BGC Partners Inc

Related Party Transaction

Number of exchangeable HDUs redeemed (in shares)

905,371

Payment for exchangeable HDUs redeemed | $

$ 3,521,893

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

Michael J. Rispoli

Related Party Transaction

Value of LPU issued in exchange | $

$ 100,000

Michael J. Rispoli | Preferred Units

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

6,043

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

4,907

Payment of withholding tax rate for common stock issue | $

$ 100,000

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

$ 15.57

Michael J. Rispoli | BGC Partners Inc

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 60,750

Michael J. Rispoli | Class A Common Stock

Related Party Transaction

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

$ 11.09

Cash payment to redeem non exchangeable shares | $

$ 52,309

Issuance of Class A common stock for Newmark RSUs (in shares)

21,744

PSU conversion ratio

0.9365

Limited partnership units exchange ratio

0.9403

Cash payment to redeem | $

$ 60,750

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

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

383

Cash payment to redeem | $

$ 134,573

Number of exchangeable (in shares)

36,985

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)

5,846.07

Michael J. Rispoli | PSU

Related Party Transaction

Number of exchangeable (in shares)

23,124

Michael J. Rispoli | Exchangeable PPSU

Related Party Transaction

Cash payment to redeem | $

$ 208,407

Michael J. Rispoli | Non Exchangeable HDU

Related Party Transaction

Number of non exchangeable HUD (in shares)

5,846

Michael J. Rispoli | Restricted Stock

Related Party Transaction

Limited partnership units exchange ratio

0.9403

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

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

5,642

Michael J. Rispoli | Holdings PSU | BGC Partners Inc

Related Party Transaction

Number of exchangeable (in shares)

36,985

Howard W. Lutnick

Related Party Transaction

Related party transaction, amounts of transaction | $

$ 10,340,015

Preferred stock, tax rate used in transaction, percent

57.38%

Stock issued during period, value | $

$ 21,600,000

Aggregate cash payments | $

$ 50,000,000

Cash payment to redeem | $

$ 8,798,546

Number of non exchangeable PSU converted (in shares)

2,909,819

Howard W. Lutnick | Related Party Payment, Within Three Days Of Effective Date

Related Party Transaction

Aggregate cash payments | $

20,000,000

Howard W. Lutnick | Related Party Payment, Within Thirty Days Following Vesting On First Three Anniversaries

Related Party Transaction

Aggregate cash payments | $

$ 10,000,000

Howard W. Lutnick | BGC Partners Inc

Related Party Transaction

Cash payment to redeem | $

$ 7,983,000

Number of non exchangeable PSU converted (in shares)

1,131,774

Howard W. Lutnick | Class A Common Stock

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

267,572

263,025

5,154

Shares issued (in dollars per share) | $ / shares

$ 16.47

Related party transaction, shares issued, exchange ratio

93.39%

Number of non exchangeable PSU redeemed (in shares)

2,736,103

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

$ 10.67

Limited partnership units exchange ratio

0.9403

Cash payment to redeem | $

$ 1,465,874

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

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

88,636

Howard W. Lutnick | Non Exchangeable PSU

Related Party Transaction

Stock redeemed or called during period (in shares)

286,511

Stock redeemed or called during period, value | $

$ 0

Number of non exchangeable PSU redeemed (in shares)

193,530

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 PPSU

Related Party Transaction

Stock redeemed or called during period (in shares)

188,883

Stock redeemed or called during period, value | $

$ 1,954,728

Issuance of Class A common stock for Newmark RSUs (in shares)

1,770,016

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

Related Party Transaction

Cash payment to redeem | $

$ 1,525,705

Howard W. Lutnick | PSU

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

4,423,457

Number of non exchangeable PSU redeemed (in shares)

279,725

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 | Exchangeable PPSU

Related Party Transaction

Stock redeemed or called during period (in shares)

193,530

Stock redeemed or called during period, value | $

$ 1,465,873

Howard W. Lutnick | Non Exchangeable NPPSU

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

1,284,376

Related party transaction, amounts of transaction | $

$ 4,406,915

Number of non exchangeable NPPSU redeemed (in shares)

127,799

Number of non exchangeable NPPSU monetized (in shares)

122,201

Payment to redeem non exchangeable monetized shares, net | $

$ 1,228,124

Howard W. Lutnick | Non Exchangeable HDU

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 7,983,000

Number of non exchangeable HUD (in shares)

552,482.62

Non Exchangeable H U D, Capital Account | $

$ 7,017,000

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

Related Party Transaction

HDU liability | $

$ 7,000,000

Payment for exchangeable HDUs redeemed | $

$ 7,000,000

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

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

29,059

Number of exchangeable HDUs redeemed (in shares)

1,474,930

Payment for exchangeable HDUs redeemed | $

$ 9,100,000

Howard W. Lutnick | Restricted Stock

Related Party Transaction

Limited partnership units exchange ratio

0.9403

Executive Officer | Class A Common Stock

Related Party Transaction

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

$ 12.50

Executive Officer | Class A Common Stock | BGC Partners Inc

Related Party Transaction

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

5.86

Executive Officer | Class A Common Stock | Nasdaq

Related Party Transaction

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

$ 177.11

Mr. Merkel

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

30,926

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

86,649

Payment of withholding tax rate for common stock issue | $

$ 800,000

$ 300,000

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

$ 10.67

Mr. Merkel | Class A Common Stock

Related Party Transaction

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

$ 11.09

Issuance of Class A common stock for Newmark RSUs (in shares)

28,962

Treasury stock repurchases (in shares)

68,727

Mr. Merkel | Non Exchangeable PSU

Related Party Transaction

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

145,384

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 | $

$ 200,000

Mr. Merkel | PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

73,387

Stephen M. Merkel | Class A Common Stock

Related Party Transaction

Issuance of Class A common stock for Newmark RSUs (in shares)

48,072

Limited partnership units exchange ratio

0.9403

Stephen M. Merkel | Non Exchangeable PPSU

Related Party Transaction

Cash payment to redeem non exchangeable shares | $

$ 300,000

Number of non exchangeable PPSU redeemed (in shares)

46,349.87

Stephen M. Merkel | PSU

Related Party Transaction

Number of non exchangeable PSU redeemed (in shares)

51,124.28

Gosin Employment Agreement | Mr. Gosin

Related Party Transaction

Annual cash bonus | $

$ 1,500,000

Gosin Employment Agreement | Mr. Gosin | Newmark NPSU

Related Party Transaction

Number of conversion rights granted (in shares)

1,145,475

Conversion rights granted, value | $

$ 10,000,000

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

$ 8.73

Rispoli Employee Agreement | Michael J. Rispoli

Related Party Transaction

Exchangeability, percentage

25%

Exchangeability, pro-rata vesting percentage

20%

Rispoli Employee Agreement | Michael J. Rispoli | Restricted Stock Units

Related Party Transaction

Number of conversion rights granted (in shares)

500,000

Rispoli Employee Agreement | Michael J. Rispoli | Restricted Stock Units | Tranche One

Related Party Transaction

Number of conversion rights granted (in shares)

100,000

Award vesting period

7 years

Rispoli Employee Agreement | Michael J. Rispoli | Restricted Stock Units | Tranche Two

Related Party Transaction

Number of conversion rights granted (in shares)

250,000

Rispoli Employee Agreement | Michael J. Rispoli | Restricted Stock Units | Tranche Three

Related Party Transaction

Number of conversion rights granted (in shares)

50,000

Award vesting period

7 years

Rispoli Employee Agreement | Michael J. Rispoli | Non Exchangeable PSU

Related Party Transaction

Number of conversion rights granted (in shares)

88,079

Rispoli Employee Agreement | Michael J. Rispoli | Non Exchangeable PPSU

Related Party Transaction

Number of conversion rights granted (in shares)

87,049

Rispoli Employee Agreement | Michael J. Rispoli | PPSU

Related Party Transaction

Number of conversion rights granted (in shares)

23,560

Fair value of non-vested | $

$ 283,527

Rispoli Employee Agreement | Michael J. Rispoli | PSU

Related Party Transaction

Number of conversion rights granted (in shares)

20,221

Related Party Transactions - CF

Related Party Transactions - CF Real Estate Finance Holdings, LP (Details) $ in Thousands		1 Months Ended
	Jul. 01, 2023 USD ($)	Dec. 31, 2022 USD ($) d	Jun. 30, 2023 USD ($)	Sep. 08, 2017 USD ($)
Related Party Transaction
Equity method investment		$ 91,300	$ 99,800
Subsequent Event
Related Party Transaction
Proceeds from sale of equity method investments	$ 104,700
CF Real Estate Finance Holdings, L.P.
Related Party Transaction
Equity method investment				$ 100,000
Rescission of ownership percentage by parent		27.20%
Redemption notice, threshold trading days | d		20
Payment for administrative fees		$ 44

Related Party Transactions - _3

Related Party Transactions - CF&Co (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 26, 2018	Mar. 28, 2019
6.125% Senior Notes
Related Party Transaction
Stated interest rate		6.125%
Related Party
Related Party Transaction
Fees for services	$ 4

Related Party Transactions - _4

Related Party Transactions - Other Related Party Transactions and Cantor Rights to Purchase Cantor Units from Newmark Holdings (Details) ft² in Thousands							1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) shares	Apr. 16, 2023 USD ($) shares	Oct. 25, 2022 USD ($) shares	May 17, 2022 USD ($) shares	Jun. 28, 2021 USD ($)	Nov. 30, 2018 USD ($)	Jan. 31, 2022 USD ($) ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Nov. 06, 2018	Dec. 13, 2017
Related Party Transaction
Debt	$ 774,088,000							$ 774,088,000		$ 774,088,000		$ 547,784,000
Operating lease payments										$ 61,400,000	$ 52,900,000
Due from related party, percentage from sale										10%
Limited partnership units exchange ratio	0.4545							0.4545		0.4545
Common Stock
Related Party Transaction
Limited partnership units exchange ratio													1
Class A Common Stock
Related Party Transaction
Limited partnership units exchange ratio														1
Class A Common Stock | NEWMARK Group Inc Parent
Related Party Transaction
Limited partnership units exchange ratio	0.9235							0.9235		0.9235
Related Party
Related Party Transaction
Payables to related parties	$ 9,300,000							$ 9,300,000		$ 9,300,000		$ 9,700,000
Remaining lease terms							6 months
Area of real estate property | ft²							21
Monthly payment on sublease							$ 81,600
Options to extend leases	3 months							3 months		3 months
Operating lease payments								$ 200,000	$ 200,000	$ 500,000	500,000
Annual base salary					$ 125,000
Annual discretionary bonus rate, maximum					30%
Travel and housing reimbursement					$ 250,000
Related Party | Founding partner interest
Related Party Transaction
Stock issued (in shares) | shares	74,026	309,631	104,701	184,714
Proceeds from sales of partnership interest	$ 310,976	$ 1,282,265	$ 446,647	$ 763,064
Related Party | Limited partner interest
Related Party Transaction
Stock issued (in shares) | shares		38,989	102,454	23,562
Proceeds from sales of partnership interest		$ 166,364	$ 272,100	$ 100,079
Cantor Credit Agreement | Related Party | Line of Credit
Related Party Transaction
Maximum revolving credit						$ 250,000,000
Basis spread on variable rate						1%
Debt	$ 0							$ 0	$ 0	$ 0	$ 0

Related Party Transactions - Re

Related Party Transactions - Referral Feed to Cantor (Details) $ in Millions	1 Months Ended
	Sep. 30, 2021 USD ($)
Referral Fees
Related Party Transaction
Related party transaction, amounts of transaction	$ 0.3

Related Party Transactions - Ac

Related Party Transactions - Acquisition of Spring11 Ownership Interest from Cantor (Details) - Equity Purchase Agreement	1 Months Ended
	Feb. 28, 2023 USD ($)
Related Party Transaction
Related party transaction, amounts of transaction	$ 11,530,598
Newmark S11 LP LLC
Related Party Transaction
Equity method investment ownership percentage	33.78%
Spring 11 | Newmark S11 LP LLC
Related Party Transaction
Equity method investment ownership percentage	25.62%
Spring 11 | Newmark S11
Related Party Transaction
Equity method investment ownership percentage	100%

Income Taxes (Details)

Income Taxes (Details)	Jun. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
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	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable and accrued expenses	$ 263,002	$ 208,168
Outside broker payable	76,787	82,002
Payroll taxes payable	81,041	92,247
Corporate taxes payable	0	22,864
Derivative liability	2,821	9,378
Right-of-use liabilities	101,426	96,860
Contingent consideration	944	65
Total	$ 526,021	$ 511,584

Accounts Payable, Accrued Exp_4

Accounts Payable, Accrued Expenses and Other Liabilities - Components of Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued compensation	$ 103,025	$ 95,770
Payroll and other taxes payable	68,406	59,380
Financial guarantee liability	28,500	27,729	$ 25,989
Deferred rent	5,495	5,040
Contingent consideration	19,759	8,278
Other	7,400	0
Total	$ 232,585	$ 196,197

Compensation - Narrative (Detai

Compensation - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 13, 2017 shares
Share-based Compensation Arrangement by Share-based Payment Award
Shares available for future awards (in shares)	314,000,000		314,000,000
Limited partnership units exchange ratio	0.4545		0.4545
Issuance of common stock and exchangeability expenses | $	$ 9,897,000	$ 28,898,000	$ 34,480,000	$ 37,881,000
Number of shares vested and converted (in shares)	3,800,000		6,300,000
Unrecognized compensation expense related to unvested RSUs | $	$ 101,500,000		$ 101,500,000
Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses | $	$ 0	$ (2,000,000)	$ 0	$ (2,000,000)
Executives and Non Executives Employees
Share-based Compensation Arrangement by Share-based Payment Award
Limited partners capital account units held by BGC (in shares)	86,000,000		86,000,000
Non Distribution Earning Units
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period			4 years
Unit granted during period (in shares)	1,000,000	800,000	2,000,000	1,700,000
Number of shares vested and converted (in shares)		800,000		1,300,000
Newmark Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units exchange ratio	0.4545		0.4545
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Limited partners capital account units held by BGC (in shares)	15,944,838		15,944,838		14,277,213
Limited partnership units outstanding (in shares)	38,437,268		38,437,268		30,687,954	18,419,613
NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)	3,459,228		3,459,228		3,900,000
Exchangeable partnership units (in shares)	1,690,266		1,690,266		1,500,000
NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses | $	$ 9,897,000	$ 26,875,000	$ 34,480,000	$ 35,858,000
BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)	377,539		377,539		5,459,388	8,663,930
BGC Holdings, L.P. | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units outstanding (in shares)	73,245		73,245		4,800,000
Exchangeable partnership units (in shares)	14,386		14,386		2,500,000
Maximum | NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period			7 years
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units exchange ratio							1
Class A Common Stock | NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units exchange ratio	0.9235		0.9235
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)							215,000,000

Compensation - Compensation Exp

Compensation - Compensation Expense Related to Limited Partnership Units and Restricted Stock Units (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses	$ 9,897,000	$ 28,898,000	$ 34,480,000	$ 37,881,000
Equity-based compensation and allocations of net income to limited partnership units and FPUs			55,258,000	58,886,000
Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses	0	(2,000,000)	0	(2,000,000)
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	19,609,000	41,988,000	55,258,000	58,886,000
NEWMARK Group Inc Parent | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Limited partnership units amortization	6,221,000	5,566,000	12,184,000	10,061,000
NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award
Issuance of common stock and exchangeability expenses	9,897,000	26,875,000	34,480,000	35,858,000
Allocations of net income to limited partnership units and FPUs	122,000	7,787,000	364,000	7,933,000
Limited partnership units amortization	$ 3,369,000	$ 1,760,000	$ 8,230,000	$ 5,034,000

Compensation - Activity Associa

Compensation - Activity Associated with Limited Partnership Units (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Beginning balance (in shares)	30,687,954	18,419,613
Number of units, Issued (in shares)	9,697,379	15,402,041
Number of units, Redeemed/exchanged units (in shares)	(1,730,819)	(2,934,984)
Number of units, Forfeited units (in shares)	(217,246)	(198,716)
Ending balance (in shares)	38,437,268	30,687,954
Exchangeable units (in shares)	9,082,995	7,861,359
NEWMARK Group Inc Parent | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Beginning balance (in shares)	3,900,000
Ending balance (in shares)	3,459,228	3,900,000
Exchangeable partnership units (in shares)	1,690,266	1,500,000
NEWMARK Group Inc Parent | Limited Partnership Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Ending balance (in shares)	1,853,111
BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Beginning balance (in shares)	5,459,388	8,663,930
Number of units, Issued (in shares)	1,506	25,032
Number of units, Redeemed/exchanged units (in shares)	(5,082,356)	(3,169,063)
Number of units, Forfeited units (in shares)	(999)	(60,511)
Ending balance (in shares)	377,539	5,459,388
Exchangeable units (in shares)	68,139	2,654,749
BGC Holdings, L.P. | Limited Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Beginning balance (in shares)	4,800,000
Ending balance (in shares)	73,245	4,800,000
Exchangeable partnership units (in shares)	14,386	2,500,000
BGC Holdings, L.P. | Limited Partnership Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding
Ending balance (in shares)	31,945

Compensation - Units Redeemed i

Compensation - Units Redeemed in Connection with Issuance of Class A Common Stock (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Number of units redeemed (in shares)	1,072,619	2,392,823	3,817,173	2,959,978
BGC Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of units redeemed (in shares)	100,280	56,562	116,556	91,119
Newmark Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of units redeemed (in shares)	972,339	2,336,261	3,700,617	2,868,859

Compensation - Limited Partners

Compensation - Limited Partnership Units with a Post-Termination Payout (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
BGC Holdings, L.P.
Share-based Compensation Arrangement by Share-based Payment Award
Notional value	$ 157,222	$ 144,045
Estimated fair value of the post-termination payout	$ 49,771	$ 42,706
Outstanding limited partnership units (in shares)	0	44,928
NEWMARK Group Inc Parent
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding limited partnership units (in shares)	15,944,838	14,277,213
Outstanding limited partnership units - unvested (in dollars per share)	1,536,784	2,155,668

Compensation - Grant of Convers

Compensation - Grant of Conversion Rights to Newmark Employees (Details) - Limited Partnership Units - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Notional value	$ 1,258	$ 8,189
Estimated fair value of limited partnership units	$ 1,132	$ 8,065

Compensation - Activity Assoc_2

Compensation - Activity Associated with Restricted Stock Units (Details) - Restricted Stock Units - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended	12 Months Ended
	Jan. 01, 2018	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Newmark Holdings, L.P.
Restricted Stock Units
Beginning balance (in shares)		11,263,862	10,721,457
Number of units, Issued (in shares)		2,773,257	3,350,516
Number of Settled units (delivered shares) (in shares)		(1,672,331)	(2,464,570)
Number of units, Forfeited units (in shares)		(228,012)	(343,541)
Ending balance (in shares)		12,136,776	11,263,862	10,721,457
Weighted- Average Grant Date Fair Value Per Share
Balance at the beginning of period (in dollars per share)		$ 9.39	$ 8.30
Granted (in dollars per share)		6.87	12.15
Settled units (delivered shares) (in dollars per share)		9.26	8.33
Forfeited units (in dollars per share)		10.10	10.11
Balance at the end of period (in dollars per share)		$ 8.82	$ 9.39	$ 8.30
Fair Value Amount
Balance at beginning of period		$ 105,735	$ 89,025
Granted		19,049	40,710
Settled units (delivered shares)		(15,494)	(20,526)
Forfeited units		(2,302)	(3,474)
Balance at end of period		$ 106,988	$ 105,735	$ 89,025
Weighted- Average Remaining Contractual Term (Years)		4 years 3 months 25 days	4 years 9 months	4 years 11 months 15 days
Newmark Holdings, L.P. | Minimum
Fair Value Amount
Award vesting period	2 years
Newmark Holdings, L.P. | Maximum
Fair Value Amount
Award vesting period	9 years
BGC Holdings, L.P.
Restricted Stock Units
Beginning balance (in shares)		6,928	5,375
Number of units, Issued (in shares)		0	4,191
Number of Settled units (delivered shares) (in shares)		(2,045)	(2,638)
Number of units, Forfeited units (in shares)		0	0
Ending balance (in shares)		4,883	6,928	5,375
Weighted- Average Grant Date Fair Value Per Share
Balance at the beginning of period (in dollars per share)		$ 4.17	$ 3.85
Granted (in dollars per share)		0	4.28
Settled units (delivered shares) (in dollars per share)		4.05	3.69
Forfeited units (in dollars per share)		0	0
Balance at the end of period (in dollars per share)		$ 4.22	$ 4.17	$ 3.85
Fair Value Amount
Balance at beginning of period		$ 29	$ 21
Granted		0	18
Settled units (delivered shares)		(8)	(10)
Forfeited units		0	0
Balance at end of period		$ 21	$ 29	$ 21
Weighted- Average Remaining Contractual Term (Years)		1 year 1 month 13 days	1 year 7 months 13 days	1 year 1 month 28 days
BGC Holdings, L.P. | Minimum
Fair Value Amount
Award vesting period		2 years
BGC Holdings, L.P. | Maximum
Fair Value Amount
Award vesting period		4 years

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Loss Contingencies
Contingent consideration	$ 944	$ 65
Acquisitions from 2019 through 2023
Loss Contingencies
Contingent consideration	20,700
Construction Loans
Loss Contingencies
Total remaining draws on construction loans committed to fund	$ 200,000	$ 300,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Jul. 27, 2023 $ / shares
Class A Common Stock
Subsequent Event
Common stock dividends per share declared (in usd per share)	$ 0.03
Class B Common Stock
Subsequent Event
Common stock dividends per share declared (in usd per share)	$ 0.03