Law firm passes on new Vornado Port Authority tower, renews at 1285 Avenue of the Americas

Law firm Paul Weiss Rifkind Garrison & Wharton, rumored last year to have been negotiating for a spot in Vornado Realty Trust’s new 42-story tower atop the Port Authority Bus Terminal, has decided instead to renew and expand its current space at 1285 Avenue of the Americas, also known as the Paine Webber Building. The firm had a lease expiring in 2010, and inked a 15-year deal that will give the building’s already-largest tenant two additional floors. The new lease, which has not yet been signed, will bring the firm’s total there to 550,000 feet. Moshe Sukenik and Barry Gosin of Newmark Knight Frank represented Paul Weiss in the transaction. [Post, 1st item]