Kasowitz Benson shrinks space at Paramount Plaza

On the heels of their big deal with Warner Music Group, Beacon Capital Partners and Paramount Group are closing in on a 20-year renewal for law firm Kasowitz, Benson, Torres & Friedman at Paramount Plaza.

The law firm has already spent two decades at the 225,000-square-foot space inside the 48-story, 2.53 million-square-foot tower at 1633 Broadway, between West 50th and West 51st streets. It plans to reduce its space by 25,000 square feet among the 20th through 24th floors. Asking rents at the space start in the $70s per square foot. 

Ted Koltis and Peter Brindley represented Paramount in-house, while Newmark Grubb Knight Frank broker Mark Weiss represented the tenant.

Last month, Warner Music Group took 288,250 square feet in the building for $250 million, as The Real Deal reported. [Crain’s] — Mark Maurer