Cravath, Swaine & Moore has confirmed that it is moving its New York headquarters to a new office tower, Two Manhattan West, in five years, a significant change for the Wall Street firm, which has been at its current location at Worldwide Plaza in Midtown for 30 years.

The move means Cravath is moving to a somewhat smaller footprint, in line with legal industry trends that favor reducing attorney office space and eliminating space for huge law libraries. In a Friday announcement, Cravath said it will anchor the building, occupying 13 full floors at Brookfield Properties' Two Manhattan West—floors 25 through 37—covering about 481,000 square feet.

According to a 2013 Morningstar ratings report about the firm's current location at Worldwide Plaza, Cravath has leased about 617,135 square feet there, paying an estimated $54 million in annual base rent. Cravath has been in the building at 825 Eighth Ave.—reportedly dubbed "the Death Star" by associates in the past—since 1989, and its lease expires in 2024.