Apple lands 10-year Grand Central Terminal store deal

Apple has already reached a deal for its Grand Central Terminal store. The Metropolitan Transportation Authority confirmed to the NY Post that Apple will have the location for 10 years and is refurbishing the space. Apple will start paying rent of $800,000 per year, or almost three times the $300,000 a year of the outgoing Metrazur restaurant.
MTA officials anticipated the store turning a profit for itself of about $5 million per year through the shoppers visiting the bus and train hub.
A formal approval from the MTA's financial committee is expected Monday, followed by a board of directors approval on Wednesday. Apple hasn't said when construction will start or when it expects the store to ... »read more

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