updated 05:15 pm EDT, Wed July 20, 2011
Store fate to be decided at monthly board meeting
Grand Central Terminal management is reportedly ready to approve Apple's proposal for a retail outlet in the 42nd Street terminal station. The Metropolitan Transportation Authority, which handles the leasing arrangements for the building, is expected to allow an Apple Store to be added on the balcony overlooking the main hall, unnamed sources have told The New York Times.
The station is said to be going through a significant transition, as many long-term shop owners are driven out of the building by competition from retailers placing strong bids for retail space. The transportation authority is also holding retailers and food vendors to higher standards, requiring approval for design plans and materials.
Some rumors suggest Apple's lease may represent the company's largest brick-and-mortar store and the largest lease in the terminal station, however other reports point to a different location that may be smaller than the company's other Manhattan stores. The recent sources claim Apple submitted its bid in linen-lined boxes.
The final decision is said to be set for a monthly board meeting scheduled next week.