Durst Organization

Say farewell to 4 Times Square.

Say farewell to 4 Times Square.

Biglaw is getting less big when it comes to office space. As we recently mentioned, law firms are spending less on their real estate. They’re renting smaller spaces, often outside the central downtown areas they’ve traditionally favored. As the American Lawyer put it, “[a]s a result of tightening market conditions, some firms are gravitating to ‘unorthodox’ locations in areas right outside the central districts they usually prefer.”

Consider the move that Skadden Arps just announced for its Manhattan headquarters. It’s going to an area that is certainly “unorthodox,” perhaps downright icky….

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The people building 1 World Trade Center still seem to be having trouble attracting big-time tenants. Especially law firms. Previous reports have indicated that Mayer Brown and Morgan Lewis have backed out of deals to take up residency in the new tower.

The latest law firm deal to fall through appears to be that of Chadbourne & Parke. In January, the New York Times reported with much fanfare that Chadbourne & Parke would be a “prime tenant” a 1 WTC. But this week, the New York Post is reporting that the deal has fallen through.

Chadbourne, currently housed at 30 Rock, doesn’t have to go downtown, but it can’t stay where it is. So where will Chadbourne be going?

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