Where Ideas Take Shape

Apple to open Apple Store in Grand Central Terminal

The last time we heard evidence of a Grand Central Apple Store was back in May, when the Wall Street Journal reported that the Metropolitan Transport Authority (MTA) was contacted by Apple who was interested in retail space. Today, according to the New York Post, Apple will open a 23,000 square-foot store in the terminal’s north and northeast balconies. Affected is the Metrazeur restaurant, bought out in the apparent deal. Apple’s rent will initially cost $800,000 for the retail space during a ten-year lease.

It should be noted that the deal isn’t finalized yet: the MTA still has to ask their financial committee to approve the deal on Monday before receiving a final okay from the board of directors on Wednesday. With the deal likely to rake in $5 million in profits (at minimum), and with the renter being Apple, the MTA is undoubtedly going to vote “yes”. I don’t think there’s any question there.

[via NY Post]

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