Newmark Nets Record Revenue in Third Quarter
Brokerage firm aided by sharp growth in leasing and capital markets businesses
By Andrew Coen November 7, 2025 11:06 am
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Newmark posted record revenues for the third quarter aided by boosts in its leasing and capital markets businesses.
The brokerage giant reported a 26 percent revenue increase compared to the year-ago period to $863.5 million, marking its fifth straight quarterly double-digit jump in revenue.
Leasing fees rose 13.7 percent led by “strong activity” in the New York, Texas and Northern California markets where Chief Financial Officer Michael Rispoli said Newmark generated growth in both office and industrial deals.
Capital markets revenues rose 59.7 percent, which Rispoli said outpaced the industry for the eighth consecutive quarter. The increase was sparked by a 129.1 percent increase in debt deal volumes and 67.3 percent increase from its investment sales platform.
Rispoli noted that Newmark advised on several large transactions during the third quarter, including a $4 billion joint venture for a data center campus in Lancaster, Pa., and a $1.45 billion recapitalization for RXR’s 1211 Avenue of the Americas office tower.
“The pipelines remain really strong into the fourth quarter,” Rispoli said. “We don’t see anything in the market that is slowing transaction activity down at the moment.”
Newmark also reported a 23.5 percent rise in its valuation and advisory services business. Its adjusted earnings per share increased 27.3 percent to 42 cents compared with 33 cents in the third quarter of 2024.
The third-quarter earnings call Friday came three days after New York City voters elected Zohran Mamdani as its next mayor, sparking some concerns in commercial real estate given his Democratic Socialist ideology. Newmark CEO Barry Gosin said he does not see Mamdani significantly impacting future investment in New York City due to some of the mayor’s limitations in implementing policies and needing approval from Gov. Kathy Hochul.
“The governor really is the firewall for the city,” Gosin said. “The law firms are doing great, the financial institutions are all expanding. All of our clients are expanding.”
Andrew Coen can be reached at acoen@commercialobserver.com.
