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Escrow and Custodial Funds
12 Months Ended
Dec. 31, 2023
Deposit Assets Disclosure [Abstract]  
Escrow and Custodial Funds Escrow and Custodial Funds
In 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 $1.1 billion and $1.0 billion, as of December 31, 2023 and 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.