Daily News from New York, New York • 516

QUOTE OF THE DAY 'Consumers In New York want choices. They want alternatives to the same old poor service and high rates ROBERT CEJSLER, of the Citizens Utility Board, on the proposed NYNEXBell Atlantic merger. yfty'i i I -J fi Drl FrTnS Fl fn Eatery eyes bldg. iii' -f I I Swiss firm bolting The North American arm of Um world's second largest reinsurance company announced yesterday that it would move most of It oertions, and some KA) jobs, Irom mid town to a bucolic rorporut campus setting in Armonk. Swiss He America, which Is In the business of Insuring Insurance companies, said it has purchased a 127-acre Nile, where It will build a square foot office building.

"We re going to have picnic areas, jogging truth and a day cure center," suid Sara Fox, a senior vice president. "Our motivation is to improve the quality of life for our employes Swiss He, which has bated its North American operations in the city since ISJiO, plans to move its life and casualty reinsurance divisions to Westchester by early UfM The company will maintain its investment banking divisions in the city. Those divisions, witn 150 employes, will probably be moving to 150,000 square feet of space in I'ark Avenue I laa. at 55 52d St, according to real estate industry sources. Ictcr Grant 1 i vs n- T' II X2u--in I Si: 1 a -ft- By PETER GRANT The high-flying restauran-teur who founded Planet Hollywood is planning to open a new theme restaurant in the building that used to house the legendary Paramount Theater.

Robert Earl has reached a tentative agreement to lease 43.000 square feet in the landmark Paramount Building where he plans to open a restaurant with over 500 seats. It will likely have a musical theme, probably rock and roll, sources said. Under the deal, the landlord of the building, which is at Itroadway and 43d St, will recreate the famous marquee under which bobbysoxers used to wait all night to catch a glimpse of Frank Sinatra who regularly performed there. "We got the old pictures of what it looked like and we're going to try to recreate it," Jeff Gural, the building's managing agent, said yesterday. The new restaurant is just the latest new attraction to commit to the Times Square area, which is beginning to enjoy the fruits of a 15-year revi-talization effort.

It follows a long list names in entertainment and retail including Walt Disney, Madame Tus-sauds, AMC and IIMV Records. Karl, whose high profile business partners include The firm, which has been scouting the real estate market for about 650.000 square feet all year, has narrowd its options to rewer than five buildings. Valla said. Other possibilities include staying in place and moving downtown. Skadden Arps' lease at 019 Third expires in the year 2000.

The firm decided to begin looking for space now to take advantage of the still-soft real PLANET LANDING? Paramount Building, where a young Sinatra (inset) made "em swoon, may house new music theme restaurant. stars like Sylvester Stallone, Arnold Schwarzenegger and Bruce Willis, already is involved in two other Times Square projects. In December, he debuted the Official All-Star Cafe on Broadway and 45th St. A joint venture of Planet Hollywood, Earl's company that went public in April, and Marvel Comics are planning to open a 23,000 Marvel Mania restaurant in the old Times Square Theater on 42nd St "He has a voracious appetite for tying up big locations for theme restaurants in New York City," said Robert Fut-terman, senior managing director of Garrick Aug Store Leasing. "He must feel that now is a good time to make deals because in two or three estate market, Yaffa said.

But he noted that the firm's decision "might very well be to wait." Conde Nast announced in May that it would be the anchor tenant in the 47-story tower that will be named after the publishing company. Work is expected to begin on the $200 million development later this summer. Peter Grant years rents will be impossible." Earl, who was in Seattle yesterday opening a new restaurant, could not be reached for comment The Paramount Building, at 1501 Broadway, which was built in 1926, housed the historic theater until it closed in 1965 and was carved up into office space. The theater was best known for its Sinatra performances especially the one that provoked a riot on Columbus Day 1944 after thousands were unable to get in. 4 Besides restoring the marquee, the landlord is planning to replace the famous clock on the top of the building which has not worked for more than 20 years.

"We've tried to fix it a couple of times but it kept on breaking," Gural said. "We're going to have to replace it with new technology." The building's owner, an investment group, also is planning to relight the ball on top of the building which was blackened during World War II for security reasons. It has not shone since then. ATsT VburTrue Choice 1 li in mHiw'4' SikadMeini Mrps eyes Hew lnoeise "We got the old pictures of what it looked like and we're going to try to recreate it." JEFF GURAL, Paramount' managing agent Skadden Arps Slate Meugher tt Flom, the city's Idri'st law firm, may join Con-cle Nast in the city's first new office skyscraper or the fcarle Yulfa. the firm's managing partner, conrirmed yesterday that it was "seriously considering" relocating its 558 attorneys from 019 Third Ave.

to the new oll'ice building the Durst Organization Is planning at 42d St. and Broadway. 1 1 mm earn rMimtt vd te. thmnf LI i i ED 13 EI E3 El E3 ED ED i E3E3EO" Call The World On Your Card. 3 CaNiig trie o'ld is cr.y a-id sime'e usmq your card bu can do it (rom any telephone, tg over 100 countries.

Just didl 1 800 CALl At l(l 800 225-5288) and a voice will rejl you exactly vrjt to do. wni rmiium Ivrma ipr1 to vow ctmM CMrt oihmr long cfwnc conpany cwkng caid aictuded AT4T..