toggle

AAPL Stock: 98.15 ( -0.23 )

Printed from http://www.macnn.com

MTA committee details Grand Central Apple Store proposal

updated 04:35 pm EDT, Mon July 25, 2011

Apple expected to pay $1.1m for annual rent

Committee members from New York City's Metro Transit Authority have provided further details surrounding the Grand Central Apple Store proposal, which was confirmed earlier today following a number of leaks. Previous reports suggest Apple will face $800,000 for annual rent as part of the agreement, however the yearly charge is said to jump by an additional $300,000 after the first ten years.

Although Apple has yet to release official images of the proposed store's architecture, The Wall Street Journal's Rob Bennett has created a mockup showing one potential layout in the terminal's main concourse.

The store will be built in the same location as a restaurant, Metrazur, which was said to have been offered $5 million to voluntarily depart early in its lease. Aside from the restaurant space, the company has also secured an adjoining balcony.

While some board members simply highlighted the new addition to the station, others took the opportunity to gloat over Apple's decision to seek out Grand Central rather than Penn Station.

"It makes the Penn Station customers no longer second-class citizens, it makes them third-class citizens," said board member Mitchell Pally.






by MacNN Staff

toggle

Comments

  1. iphonerulez

    Joined: Dec 1969

    0

    Penn Station? Where's that?

    The GCT board members must really be yukking that up. Apple knows the best sites with the highest foot traffic and they picked an absolute winner in GCT.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Adesso Xtream S3B Bluetooth speaker

Finding a speaker purpose-built for a specific need is challenging. Even when a Bluetooth speaker can be paired with a mobile device, ...

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

toggle

Most Commented