The $900 million lease deal

Cravath Swaine & Moore, which routinely reports profits per partner of more than $3 million (it's the third most-profitable law firm in the U.S.), is shelling out close to a billion dollars to renew its NY lease, according to Bloomberg News (via Crain's NY Business). That's $100 per square foot for 600,000 square feet of space over 15 years. No L.A. angle - just one heck of deal.