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Compensation (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of compensation cost for share-based payment arrangements
Newmark incurred compensation expense related to Class A common stock, limited partnership units and RSUs held by Newmark employees as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Issuance of common stock and exchangeability expenses$13,243 $17,499 $21,668 $39,671 
Allocations of net income to limited partnership units and FPUs (1)
29,221 32,496 30,753 50,410 
Limited partnership units amortization4,902 5,239 12,808 16,618 
RSU amortization3,404 1,413 9,315 3,172 
Equity-based compensation and allocations of net income to limited partnership units and FPUs$50,770 $56,647 $74,544 $109,871 
(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.
Compensation expense related to the issuance of Newmark or BGC Class A common stock and grants of exchangeability on Newmark Holdings and BGC Holdings limited partnership units to Newmark employees is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Issuance of common stock and exchangeability expenses$125 $— $2,606 $2,719 
Newmark recognized compensation expense related to these limited partnership units that were not redeemed as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Limited partnership units amortization$4,902 $5,239 $12,808 $16,618 
Compensation expense related to these limited partnership units held by Newmark employees was as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Issuance of common stock and exchangeability expenses$13,118 $17,499 $19,062 $36,952 
Compensation expense related to Newmark and BGC RSUs are as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
RSU amortization$3,404 $1,413 $9,315 $3,172 
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 UnitsBGC Units
Balance, January 1, 201944,733,487 (1)61,870,969 
Issued13,813,204 319,586 
Redeemed/exchanged units(2,487,885)(3,938,134)
Forfeited units/other4,742,046 (2,198,720)
Balance, December 31, 201960,800,852 56,053,701 
Issued6,811,808 1,064,781 
Redeemed/exchanged units(1,798,651)(2,217,536)
Forfeited units/other(82,945)(40,451)
September 30, 2020(2)
65,731,064 54,860,495 
Total exchangeable units outstanding(2):
December 31, 201910,108,598 24,692,695 
September 30, 202010,017,066 25,047,827 
(1)Includes the pre-IPO Newmark employees share-equivalent limited partnership units in BGC Holdings.
(2)The Limited Partnership table above also includes partnership units issued for consideration for acquisitions. As of September 30, 2020, there were 5.2 million partnership units in Newmark Holdings outstanding, of which 2.0 million units were exchangeable, and 9.2 million partnership units in BGC Holdings outstanding, of which 4.5 million were exchangeable. As of December 31, 2019, there were 5.3 million partnership units in Newmark Holdings outstanding, of which 1.4 million units were exchangeable, and 9.5 million partnership units in BGC Holdings outstanding, of which 2.9 million were exchangeable.

The Limited Partnership Units table above includes both regular and Preferred Units. The Preferred Units are not entitled to participate in partnership distributions other than with respect to the Preferred Distribution (see Note 2 — “Limited Partnership Interests in BGC Holdings and Newmark Holdings” for further information on Preferred Units). A summary of the BGC Holdings and Newmark Holdings limited partnership units held by Newmark employees is as follows:
 Newmark
Units		BGC
Units
Regular units61,301,972 53,247,827 
Preferred Units4,429,092 1,612,668 
Balance, September 30, 202065,731,064 54,860,495 
Schedule of units redeemed
A summary of units held by Newmark employees redeemed in connection with the issuance of Newmark or BGC Class A common stock (at the current exchange ratio) or granted exchangeability for Newmark or BGC Class A common stock is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
BGC Units34,893 87,566 225,725 379,191 
Newmark Units25,419 63,594 194,072 208,969 
Total60,312 151,160 419,797 588,160 
Schedule of limited partnership units with a post-termination payout Limited partnership units with a post-termination payout held by Newmark employees are as follows (dollars in thousands):
 September 30, 2020December 31, 2019
Notional Value(1)
$257,517 $261,025 
Estimated fair value of the post-termination payout(2)
$62,992 $51,378 
Outstanding limited partnership units in BGC Holdings5,265,878 6,251,816 
Outstanding limited partnership units in BGC Holdings - unvested1,008,934 1,508,510 
Outstanding limited partnership units in Newmark Holdings18,904,604 17,097,639 
Outstanding limited partnership units in Newmark Holdings - unvested9,268,547 9,357,822 
(1)Beginning January 1, 2018, Newmark began granting stand-alone limited partnership units in Newmark Holdings to Newmark employees.
(2)Included in “Other long-term liabilities” on the accompanying unaudited condensed consolidated balance sheets. Liability balance also includes $6.8 million of post-termination units issued as consideration for acquisition.
Schedule of grant of conversion rights
 September 30, 2020December 31, 2019
Notional Value$206,851 $194,995 
Estimated fair value of limited partnership units (1)
$199,149 $182,800 
(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
Stock
Units		Weighted-
Average
Grant Date
Fair Value
Per Share		Fair
Value
Amount		Weighted-
Average
Remaining
Contractual
Term (Years)		Restricted
Stock
Units		Weighted-
Average
Grant Date
Fair Value
Per Share		Fair
Value
Amount		Weighted-
Average
Remaining
Contractual
Term (Years)
Balance, January 1, 2019219,887 $13.52 $2,973 2.28168,675 $9.77 $1,619 0.98
Granted4,766,611 7.42 35,344 — — — 
Settled units (delivered shares)(109,007)11.70 (1,275)(107,820)9.38 (1,011)
Forfeited units(193,920)8.67 (1,681)(14,048)10.02 (141)
Balance, December 31, 20194,683,571 $7.55 $35,361 5.6946,807 $9.97 $467 0.25
Granted6,748,717 $8.28 $55,904 7,912 $3.69 $29 
Settled units (delivered shares)(895,909)$7.90 $(7,080)(45,544)$9.95 $(453)
Forfeited units(156,190)$7.98 $(1,246)(1,153)$10.62 $(12)
Balance, September 30, 202010,380,189 $7.99 $82,939 5.918,022 $3.81 $31 2.42
(1)Beginning January 1, 2018, Newmark began granting stand-alone Newmark RSUs to Newmark employees with the awards vesting ratably over the two- to eight-year vesting period into shares of Newmark Class A common stock.
(2)    RSUs granted to these individuals generally vest over a two to four year period.