Port Authority Bus Terminal

High-octane law firm Paul, Weiss, Rifkind, Wharton & Garrison is in negotiations with Vornado Realty Trust to occupy space in the skyscraper that the real estate giant plans to build on top of the Port Authority Bus Terminal.

A source close to the negotiations said that the law firm, which now occupies 400,000 square feet at 1285 Avenue of the Americas, wants to take 500,000 square feet in the tower, which isn't expected to be complete until 2012.

More on this in Wednesday's paper.

The West 41st Street passage that bisects the Port Authority Bus Terminal will reopen to traffic again starting tomorrow, marking the end of roughly $100 million in security measures, including stronger exterior columns and a reinforced parking structure. The street, which runs at grade but is covered by part of the station, has been closed since Sept. 11, 2002.

The Port Authority, in announcing the move in a press release today, said that restoring the street between Eighth and Ninth avenues would “alleviate some traffic congestion in the surrounding area by providing another westbound artery for motorists.”  read more »