Apple Signs 10 Year Deal For World's Biggest Apple Store In NYC

By  at Sunday, July 24, 2011  

Apple Retail has seriously kicked off in the previous years. With the company opening 33 new Apple retail stores over the next two months, the retail end of Cupertino is doing really well. And now, the company has signed a 10 year deal for the world's biggest Apple store at Grand Central Terminal in New York City.

Grand Central Terminal is one of the most busiest locations of New York City. A terminal that sees hundreds of thousands of visitors each day, it seems only logical for Apple to build their shrine of high tech gadgets right in the middle of Grand Central Terminal.

The New York Post reports:
Tech giant Apple has inked a 10-year deal with the MTA to open its largest store in the world in Grand Central Terminal. The 23,000-square-foot store will take up Grand Central’s north and northeast balconies, displacing Charlie Palmer’s Metrazur restaurant, according to MTA documents. Apple will initially pay rent of $800,000 a year, nearly half a million more than Metrazur paid.
 When this ten year lease expires, Apple will have to pay increased rent of over $1 million per annum. On the other hand, Apple is also going to pay for refurb of the location. This might as well be dubbed as the most expensive Apple Retail Store ever, in terms of rent and running costs.

We can't wait for Grand Central Terminal Apple Store to start functioning. Fingers crossed for an early and equally grand opening.

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