Newmark Posts Record Revenue In Q1 2021 : comparemela.com

Newmark Posts Record Revenue In Q1 2021


Barry Gosin (Getty, Newmark/Illustration by Alexis Manrodt for The Real Deal)
Newmark posted record first quarter revenue this year, thanks to gains in its management services and leasing businesses.
The brokerage reported revenue of $504 million in its first-quarter earnings release published Thursday morning. That’s an increase of slightly more than 4 percent from the same period last year.
The gains were boosted by growth in the company’s biggest line of business: management fees from things like mortgage servicing, which saw a nearly 14 percent year-over-year increase. Revenue from leasing and commissions grew 5 percent, while revenue from capital markets and mortgage banking dropped about 5 percent and 6 percent, respectively.

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