The New York post has confirmed it. Apple is bringing an Apple Store to the famous Grand Central Terminal. The store has long been rumored. We reported the negotiations way back on Feb. 7, long before most even knew the negotiations were taking place. But, since then there’s been quite a bit of speculation about the deal falling through and being taken off the table by Apple.
It seems like Apple and the New York Metropolitan Transportation Authority (MTA) people in New York City have been working on a deal all along to bring a massive Apple Store to the Grand Central Terminal. It’s looking like a done deal now.
The store is rumoured to be 23,000 square-feet, and space rental is expected to fall somewhere between $800,000 and $1,000,000 per year. According to the NY Post the deal hasn’t been finalized just yet, but the MTA financial committee is expected to green-light it on Monday. The contract sounds like it will have a duration of 10 years.
It’s pretty clear from the New York Post article that the MTA expects the Apple Store to bring renewed shopping interest around the Grand Central Terminal, and the MTA is expecting to make approximately $5,000,000 for the agency. Not exactly petty change.