Newmark Revenue Up 12.7% Annually in Q3 Despite Capital Markets Slump

Newmark is anticipating big profits over the next few years and expects to reach $2 billion in annual revenue by 2029, according to the firm’s Thursday morning earnings call.

The brokerage services firm said that it had seen double-digit growth on a year-over-year basis in the third quarter of 2026, which puts it on track for its best full-year performance in its history. CEO Barry Gosin is also leaving his role on a high note.

Gosin announced in August he would transition from CEO to chairman of Newmark & Company Real Estate, its operating company, after 47 years.

“We remain confident that our investment in resilient service lines, ongoing international expansion, the strength of the company’s brand and the continuing collaboration between our industry leading professionals will together drive Newmark’s long-term growth,” Gosin said during the earnings call.

Gosin said he and his team are conducting both an internal and external search for a new CEO.

Newmark’s total revenue was $973.2 million in the third quarter of 2026 compared to $863.5 in the same period last year, representing a 12.7 percent increase. 

The largest portion of the firm’s third-quarter revenue — $376 million — came from management services.

Total expenses grew from the third quarter of 2025 to $889.2 million in the last three months ending Sept. 30, up from $820 million in the same period last year.

Leasing increased by 26.5 percent year-over-year thanks to demand from companies linked to artificial intelligence, data centers and other technology sectors, with revenue from deal signings totaling $308.6 million in the third quarter of 2026 compared to $244 million in the third quarter of 2025.

Capital markets were the only segment of Newmark’s balance sheet not seeing any growth, with $288.2 million in revenue compared to $301.3 million in the same three-month period a year ago.

Gosin and other Newmark executives said that macroeconomic factors such as high interest rates and cap rates are making property owners hesitant to go to market with their buildings.

“Capital markets are not going away, it’ll still be a driver, and it will still be a way we get in front of folks,” Gosin said. “I’m not really concerned about that overall. We’re going to continue to invest, we’re going to continue to grow the platform, we’re going to continue to grow globally, and I think we’re on a really good path.”

Mark Hallum can be reached at mhallum@commercialobserver.com.