In Lawyerly Lairs, we follow the real-estate moves of leading lawyers and law firms. The focus is typically residential. For example, last year we visited the Park Avenue apartment of this year's commencement speaker at Georgetown Law, Joel Klein.
But every now and then, we go commercial, and write about law firm offices. E.g., Cleary Gottlieb; Gibson Dunn; Cravath.
Today's featured tenant: Paul Weiss. From the New York Observer:
High-powered law firm Paul, Weiss, Rifkind, Wharton & Garrison is in negotiations with Vornado Realty Trust for more than one-third of the tower planned for atop the Port Authority bus station, a move that, if cemented, would extend the legal establishment’s apparently inexorable drift westward from the white-shoe stronghold of midtown.A source close to the negotiations confirmed that Paul, Weiss is in serious, though early, negotiations to take 500,000 square feet in the middle of the 42-story building slated to rise from a platform atop the seedy bus terminal.
Seedy is right -- but there are advantages to being based at Port Authority. Check out this list of shops and restaurants. It will be easy for beleaguered associates to slip away to Duane Reade, to fill that prescription for anti-anxiety medication. And lavish lunches at Munchy's Gourmet -- second floor, South Wing -- will seal the deal for PW recruits.
Meanwhile, another top law firm is venturing beyond midtown. Also from the Observer (which covers the commercial real estate world as thoroughly as we cover Biglaw):
The largest tenant in the GM Building is relocating a portion of its operations from the gilded midtown tower to the decidedly humbler environs of downtown Brooklyn.Weil, Gotshal & Manges, a global law firm with a New York staff of 1,300, has signed a lease for 35,000 square feet at Brooklyn’s 15 Metrotech Center, owned by Forest City Ratner.
Over the past few years, Brooklyn has been booming, growing increasingly attractive as a residential option for young professionals. But if you're a Manhattan snob and Weil associate, have no fear. The Brooklyn digs will house information systems, finance, and operations; the lawyers will stay in the GM Building.
P.S. Speaking of the GM Building, here's a digression on "safe email." One ATL tipster likes to email us, using a non-work email account, from a computer in that building's Apple store.
But you don't need to be quite that cloak-and-dagger. It's usually safe to email us, from a non-work account, using the web browser on your wireless device (like a Blackberry or iPhone); that traffic doesn't pass through your law firm's servers.
Of course, to be ultra-cautious, wait until you get home, and email us from your personal computer. Thanks.
Law Firm Nears Lease Atop Bus Terminal [New York Observer]
Big Manhattan Law Firm Exits GM Building for ... Downtown Brooklyn [New York Observer]
Terminal Information & Services [Port Authority of New York and New Jersey]