Apple Store coming to Grand Central in NYC

Apple has just signed a 10-year deal with the MTA to open the largest Apple Store ever in New York City’s Grand Central Terminal. The maker of the iPhone and iPad have a few locations in NYC already, including the iconic cube store on 5th Avenue, but the coming Apple Store location at Grand Central is poised to be the most trafficked and possibly even the most attractive, given previous rumors regarding Apple’s plans for the 23,000 square-foot store.

Here are some quick facts presented by the New York Post:

Apple will initially pay rent of $800,000 a year, nearly half a million more than Metrazur paid.

After 10 years, the rent will balloon to more than $1 million annually.

The company will also pay to refurbish the space.

The MTA is estimating that the deal will bring it a minimum of $5 million in profits.

A minimum of $5 million in profits for the MTA? Oh, great, then maybe we’ll see fewer issues with timely and regular train services, along with cleaner and improved facilities. And maybe some cars that are properly warmed and cooled during the winter and summer seasons, respectively. But I wouldn’t hold my breath.

At any rate, this is a big deal for Apple, whose sales and profits are largely being dominated by the iPhone and iPad. Just this past quarter, Apple beat estimates by selling 20.34 iPhone units, 9.25 million iPad tablets and earned $28.57 billion in revenue over the past quarter. What separates Apple from its competitors in the same space is that it has its own retail stores where it can service iPhone, iPad and Mac products.

Being a New York City resident, I’m excited to see this Apple Store open up in the future – and when it does, you can bet we’ll be live-blogging the hell out of it. Any other New Yorkers out there excited to see another Apple Store pop up in our fair city?

[Via: NY Post]

  • Anonymous

    I got $31.68 for a XBOX 360 and my mom got a 17 inch Dell laptop for $95.84 being delivered to our house tomorrow by FedEX. I will never again pay expensive retail prices at stores. I even sold a 46 inch HDTV to my boss for $650 and it only cost me $53.79 to get. Here is the website we are using to get all this stuff

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