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The lease backfills more than 40% of upcoming vacancy at Paramount's 29-story Midtown Manhattan tower.

The company is scaling back its real estate presence because of flexible work schedules.

The combined company will have an enterprise value of $50 billion.

The buildings' large, flexible floorplates, floor-to-ceiling windows and energy-efficient mechanical systems will allow BioMed to convert them to life science uses.

Demand is now just 9% below pre-pandemic levels.

If Biden's proposals become reality, a lot of product would be put on the market. Then the market could freeze.

Prospective tenants are looking to get more square footage or more amenities for the same price.

"It'll be part of the 'sausage making' of negotiating legislation that can pass."