toggle

AAPL Stock: 132.54 ( + 1.15 )

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

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Notti smart lamp from Witti

Perhaps you've already seen our review of the Dotti LED display from Witti Design. Meet Notti, Dotti's "sibling". Notti is a softb ...

Seagate Personal Cloud (2-Bay)

When it comes to backing up files, many users are now looking to the myriad of cloud storage solutions available. There is no doubt th ...

Leitz Icon Label Printer

When you say the words "label printer" to people, they either just really don't care, or they get incredibly excited. This is one o ...

toggle

Most Commented