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Fixed Assets, Net | 9 Months Ended
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Sep. 30, 2025
Property, Plant and Equipment [Abstract] |
Fixed Assets, Net | Fixed Assets, Net Fixed assets, net consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024
Leasehold improvements, furniture and fixtures, and other fixed assets | $ | 263,869 |  |  | $ | 254,337 |
Software, including software development costs | 72,788 |  |  | 64,680 |
Computer and communications equipment | 43,246 |  |  | 41,144 |
Total, cost | 379,903 |  |  | 360,161 |
Accumulated depreciation and amortization | (222,826) |  |  | (193,432) |
Total, net | $ | 157,077 |  |  | $ | 166,729 |
Depreciation expense was $9.9 million and $9.6 million for the three months ended September 30, 2025 and 2024, respectively, and $35.5 million and $30.3 million for the nine months ended September 30, 2025 and 2024, respectively. Newmark recorded impairment charges of $0.1 million and $1.1 million for the three months ended September 30, 2025 and 2024, respectively, and $6.6 million and $3.1 million for the nine months ended September 30, 2025 and 2024, respectively. Impairment charges are included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations. Capitalized software development costs were $2.1 million and $2.1 million for the three months ended September 30, 2025 and 2024, respectively, and $6.3 million and $5.2 million for the nine months ended September 30, 2025 and 2024, respectively. Amortization of software development costs totaled $2.0 million and $0.9 million for the three months ended September 30, 2025 and 2024, respectively, and $6.0 million and $2.7 million for the nine months ended September 30, 2025 and 2024, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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