Get a Sneak Peek of the New Planned Apple Store in Grand Central Terminal
- Posted on August 15, 2011 at 2:56pm by
Christopher Santarelli
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The iconic transportation hub of Grand Central Terminal (commonly called Grand Central Station) hosts thousands of travelers everyday. Now, within the structure’s lofty main concourse and under its elaborately decorated star ceiling, a pack of “geniuses” will soon be swarming people playing with iPads everyday.
The Metropolitan Transportation Authority announced the planned leasing of Grand Central Terminal retail space to Apple in July. Apple will be paying almost four times the rent of the restaurant presently renting the space, and the MTA desperately needs the money. Apple will also be paying the restaurant $5 million to vacate its space on the terminal’s east balcony more than eight years before its lease expires. Apple will be making improvements to part of the leased property at its own cost.
Apple plans to start building the gadget shop immediately and construction is expected to take about four months. The 23,000-square-foot property on the terminal’s east balcony will be rented for 10 years at $1.1 million per year.
(H/T: The Real Deal)
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Gill
Posted on August 16, 2011 at 8:50amI am 70 years old and I have been using a MAC for over 25 years… and will be upgrading this years to the latest…. APPLE rocks….
Report Post »dave88
Posted on August 16, 2011 at 8:23amYou’ve got to have flash to sell that trash.
Report Post »gillfish
Posted on August 16, 2011 at 10:15ami have had every brand of pc all were crap because of windows I switched to an apple a year ago and i will never go back to a PC I love my apple
Report Post »stumblemouth
Posted on August 16, 2011 at 1:10amWhy do a story on Apple renting an expensive space (a redundant term in NYC) in Grand Central? This is the kind of story that appeals to people who subscribe to the New Yorker or other frufru elitist publications.
Report Post »LowTechBackup
Posted on August 16, 2011 at 12:08ammy bad. i left out the $5,000,000 cost to buyout the existing tenant.
Report Post »$5,000,000 spread over 10 years is $500,000 per year.
$500,000 / 365 days = $1,370 per day.
Total cost: $3,014 per day + $1,370 per day = $4,384 per day.
Brizz
Posted on August 16, 2011 at 3:43pmMany companies have flagship stores all over the world. Some even pay $eriou$ just to have their name on a stadium.
Report Post »LowTechBackup
Posted on August 15, 2011 at 11:57pmSurely i’ve read this wrong. Rent of $1.1 million per year? If there are still 365 days in one year, then Apple is only paying $1,100,000 / 365 = $3,014 per day in rent for likely one of the best locations in the country. Perhaps this explains why Apple is now in competition with Exxon-Mobil for the largest company in the U.S.
Report Post »therealamerica
Posted on August 16, 2011 at 12:04amnot in competition. surpassed.
Report Post »currently #1.
apple has more cash on hand, than the US Gov. truth.
Wild_Woody
Posted on August 15, 2011 at 10:26pmWelcome to the church of Apple.
Report Post »Pontiac
Posted on August 15, 2011 at 10:09pmWe sure got lots of stores selling Chinese made products, though I’m still not sure where the US manufacturing is.
Report Post »kralspaces
Posted on August 15, 2011 at 8:38pmWhat’s going on with the new corporate headquaters in Cupertino CA. At least Apple is not headquartered in Zug, Switerland like so many other American Companies to avoid taxes.
Report Post »Baikonur
Posted on August 15, 2011 at 5:59pmGorgeous space for a store. NYC is stunning.
Report Post »avenger
Posted on August 15, 2011 at 6:39pmIs this owned by china ? one of the fake stores….
Report Post »Bebedog
Posted on August 15, 2011 at 5:54pmApple Rocks!!!!! This is true Capitalism!! See a need and fill it! And by the way, I’m 62 and have been a Mac Head for over 20 years and so are my 3 Grandsons!!! Go Steve Jobs, show them how it’s done!!!
Report Post »Ookspay
Posted on August 15, 2011 at 5:26pmApple products suck! They have a socialist mentality, they “take over” your devices, then share it.
Report Post »therealamerica
Posted on August 15, 2011 at 5:55pm@ookspay
haha!
amazing. it must be so exhausting to live your life this paranoid.
what happen to your and Glenn’s strong belief in Capitalism?? Damn those “elitist electronics”.
Report Post »Blackop
Posted on August 15, 2011 at 5:56pmHAHA! You’re funny.
Report Post »They’re the top of the heap of our capitalist system. You need new glasses, I suspect.
Echelon
Posted on August 15, 2011 at 7:02pmWelcome to our world; there‘s room for dork’s like you. Apple has done what no other company has done to date, reinvent itself. If you’re that paranoid, don’t hit the Blaze web-site because their using web cookies to read your mind! Better yet, MSNBC is using your monitor to watch you!
Report Post »Ookspay
Posted on August 15, 2011 at 9:43pmLMFAO, I see the Geek Squad is in full attendance, I call for a quorum!
Report Post »effenmontero
Posted on August 16, 2011 at 3:14pm@ ookspay – so don’t buy their products. There are a lot of people that love their products, myself included. I see them all over the place on the trains, on the subway, on the streets of Manhattan. I’ve been working on Apple products for at least 15 years, back when there were over-priced and under-delivered. They have improved exponentially.
If you are afraid of, or don’t like, being tracked (all manuf are doing this) then you’re doing shyt your not supposed to be doing and you have good reason to be afraid.
Report Post »timej31
Posted on August 15, 2011 at 5:19pmThere will be a day in which they will see this as a day they wish they could do over. Dumb. Dumb. Droid
Report Post »DrFrost
Posted on August 15, 2011 at 5:26pmSomeone comes along who’s willing to pay you more rent and pay your current occupant a large sum of money to leave. I don’t see any problem here…
Report Post »Old Truckers
Posted on August 15, 2011 at 5:18pmI guess I am too old and too many miles on my odometer to understand this business model.
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