Law Firm Wants One-Third of Port Authority Bus Terminal Tower

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.