Law firm fills part of Sony gap in CBS Bldg - Wachtell, Lipton, Rosen and Katz leases commercial space at CBS Inc. headquarters; Sony Music Entertainment Inc

Real Estate Weekly, July 29, 1992

A Midtown law firm has leased 165,000 square feet at the CBS, Inc. headquarters building at 51 West 52nd Street.

The lease equals more than half the number of square feet that Sony will vacate next year when it moves out of the 14 floors it currently occupies at 51 West 52nd Street and moves to it new headquarters building at 540 Madison Avenue.

Wachtell, Lipton, Rosen & katz signed a 16-year lease for seven tower floors of the 36-story building, with options to extend for an additional 15 years, with building owner CBS, Inc.

The law firm will move in after an extensive renovation of the space they will occupy. CBS personnel currently working in the law firm's future space will move into space now occupied by Sony Music Entertainment (formerly CBS Records.)

Wachtell Lipton is relocating from 299 Park Avenue.

CBS was represented by John Malino, vice president, Real Estate at Loews Corporation, which has a stake in CBS. Goldman Sachs and Company represented Wachtell Lipton.

In view of the number of large tenants in the market looking for space, Malino said he predicts they will land another large tenant for the remainder of the Sony space.