Apple Store To Open in Grand Central Terminal

Apple has signed a ten year deal with New York's Metropolitan Transportation Authority to open a huge Apple Store within Grand Central Terminal.

Apple will pay the MTA (Metropolitan Transit Association) $800,000 in rent annually for the station's north and northwest balconies, nearly three times as much rent as Charlie Palmer's Metrazur restaurant was paying. In ten years, Apple's rent will go up to a million dollars annually.

Apple will be paying to refurbish the space, and must work with New York's Landmarks Preservation Commission to get any changes to the interior of the city landmark approved. The store is expected to open in November in time for Christmas.

A new Midtown Manhattan Grand Central Terminal store, located at 42nd Street and Park Avenue, would capitalize on tourist and commuter traffic using the station. Apple's highest density of retail stores is already centered in Manhattan, where the company currently operates four stores: GM Building Fifth Ave location, an Upper West Side store on Broadway, a SoHo store, and one in the Meatpacking District on West 14th Street.

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