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Newmark Reports Steep Declines in Second-Quarter Profit, Transaction Revenue

Deal-Making Plunges as Businesses Hit Pause During Pandemic
Newmark Knight Frank represented the seller in the $728.5 million trade of the Fidelity building in Boston. (CoStar)
Newmark Knight Frank represented the seller in the $728.5 million trade of the Fidelity building in Boston. (CoStar)
CoStar News
August 6, 2020 | 5:53 P.M.

Brokerage Newmark Knight Frank's parent company Newmark Group said net income and revenue from sales and leasing declined sharply in the second quarter, as the coronavirus pandemic and ensuing economic downturn caused U.S. businesses to hit pause on real estate deals in the spring.

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News | Newmark Reports Steep Declines in Second-Quarter Profit, Transaction Revenue