Skadden Arps may be staying put.
Reports that the law firm – one of the city’s largest and most prestigious – is moving to Brookfield’s Manhattan West office tower are just rumors, the New York Post reported. The newspaper claims it has confirmed that Skadden has not signed a letter of intent and is merely exploring its options, which include tenancy at Brookfield’s West Side property, heading downtown to 3 Hudson Boulevard or sticking around at the Durst Organization’s 4 Times Square.
Skadden’s lease runs through 2020 and includes the option to renew for five years, which must be exercised two years before expiration, giving the firm at least four years to make a final decision, the tabloid reported. [NYP, 1st] – Tom DiChristopher