Apple inks 10-year deal for world’s largest Apple Retail Store in Grand Central Terminal

“Tech giant Apple has inked a 10-year deal with the MTA to open its largest store in the world in Grand Central Terminal,” Jennifer Fermino reports for The NY Post.

“The 23,000-square-foot store will take up Grand Central’s north and northeast balconies, displacing Charlie Palmer’s Metrazur restaurant, according to MTA documents,” Fermino reports. “The MTA is estimating that the deal will bring it a minimum of $5 million in profits.”

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Fermino reports, “The transit agency will ask its financial committee to approve the deal Monday. If it passes as expected, the deal will go to the agency’s board of directors Wednesday for a final OK.”

Read more in the full article here.

MacDailyNews Take: I give [Apple] two years before they’re turning out the lights on a very painful and expensive mistake.David Goldstein, Channel Marketing Corp. President, commenting on Apple’s opening of retail stores, May 21, 2001

Related articles:
RUMOR: Apple backs out of rumored Grand Central Terminal retail store – March 19, 2011
Apple to construct most massive Retail Store yet in Grand Central Terminal – February 17, 2011
Apple targets Manhattan for fifth Apple Retail Store, evaluating Grand Central Terminal – February 8, 2011

25 Comments

  1. Great for Apple, all of us Mac’rs and the new guys the Terminal users will draw.

    Now if only Apple could create stores in every major airport, particularly the internationals. For surely, flight delays would be a joy, that is if they could build them large enough.

    And Apple, if there was one fantastic spot to place another flagship it would be in Toronto’s Dundas Square. Guaranteed to outdraw the Cube in New York or the Cylinder in Shanghai. Perhaps a (raised) Pentagon to accommodate its irregular shape* and to compliment the Circle in Cupertino.

    And for those that suggest an Igloo, you really don’t know much about your best neighbors.

    * http://en.wikipedia.org/wiki/Yonge-Dundas_Square

  2. It is probably the most prominent location in the terminal, on the eastern balcony (the western being still occupied by the “Michael Jordan’s Stakehouse”), overlooking the main lobby with the famous clock. If you’re waiting for a train, you’re waiting in that main lobby. While the place was “Metrazur”, nobody really bothered walking up those stairs to go in there (unless you actually were NOT waiting for a train, but looking for an upscale dinner). For an Apple store, there isn’t a more prefect location; even if you have only 10 minutes before your train leaves, and it is on tracks 19 through 31, you can take a quick look on that balcony.

    I have no doubt, this one will be generating the most traffic (and, consequently, highest revenue per sq.ft.) of them all, including the current flagship, 5th Ave store.

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