The New York Post reports that Apple and the Metropolitan Transportation Authority (MTA) have signed a deal to bring a 23,000 square-foot Apple retail store to Manhattan's historic Grand Central Terminal. The initial ten-year deal will reportedly see Apple paying $800,000 per year in rent, and potential extensions after the ten-year period would see the annual rent increase to over $1 million.

Tech giant Apple has inked a 10-year deal with the MTA to open its largest store in the world in Grand Central Terminal.

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.

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

The MTA's financial committee is said to be set to add the final seal of approval to the deal today.

grand central metrazur
The report's claim regarding the store being Apple's largest in the world is a bit fuzzy, as Apple's Regent Street store in London is said to check in at approximately 25,000 square feet. It is a bit difficult to make strict comparisons, however, as different reports use differing standards for reporting square footage. Some reports may refer to gross square footage while others may use the smaller assignable square footage, while some reports may count only publicly-accessible retail floor space in contrast to others that may include back-of-house support space or even regional corporate offices occasionally located on-site at flagship retail store locations.

Update: In an article on the MTA's board meeting today regarding the deal, The Wall Street Journal includes a pair of renderings showing what visitors can expect, with Apple's traditional light wood tables and black stools appearing under the soaring ceiling and stone work of Grand Central Terminal. Apple is paying current tenant Metrazur $5 million to vacate its spot eight years before its lease was to run out, and the company will begin construction immediately with a goal of opening the new store four months from now.

grand central terminal apple store

Top Rated Comments

toddybody Avatar
131 months ago
Im most excited for the Vatican Apple Store.
Score: 10 Votes (Like | Disagree)
jinjo235 Avatar
131 months ago
800k a year? I know there's some factors that take into account like brand exposure but isn't that too much? Obviously a study was made and probably is money well spend.

Trust me, this store will probably make $1 million/week. And if you think I'm lying, look at Apple's latest quarterly earnings then, look at home much the retail sector brought in, then divide that among the number of currently open Apple Stores. Ya, easily $1 million/week. And after rent, paying employees, etc., this could easily be the most profitable Apple retail store yet.
Score: 2 Votes (Like | Disagree)
silentnite Avatar
131 months ago
Oh no! Look out NY more Grand Central traffic headed your way.:D
Score: 2 Votes (Like | Disagree)
shartypants Avatar
131 months ago
Would love to see it when its done!
Score: 2 Votes (Like | Disagree)
dmbfrontier Avatar
131 months ago
Its coming!

This morning I noticed that the restaurant was shut down. There is a sign that says "Pardon the mess. We are working on a new shopping experience" or something of that nature. Wasn't able to take pic, but when the Apple signs show up, I will!
Score: 2 Votes (Like | Disagree)
iPadPublisher Avatar
131 months ago
I have no doubts this store will make a ton of money. Kind of like an airport location, they'll make a killing with the traffic in there. How convenient on your daily grind to swing in, get the replacement headphones you wanted, or finally check out an iPad, etc. This is a largely car-less group of people going through here -- putting a store right in their daily path exposes many many more people to the products.
Score: 1 Votes (Like | Disagree)

Top Stories

REC ASA CODE2016 20160601 205816 2745

Elon Musk Reportedly Demanded to Become Apple CEO as Part of Potential Tesla Acquisition [Update: Musk Denies]

Friday July 30, 2021 9:04 am PDT by
Tesla CEO Elon Musk reportedly once demanded that he be made Apple CEO in a brief discussion of a potential acquisition with Apple's current CEO, Tim Cook. The claim comes in a new book titled "Power Play: Tesla, Elon Musk and the Bet of the Century," as reviewed by The Los Angeles Times. According to the book, during a 2016 phone call between Musk and Cook that touched on the possibility of ...
General Apps Messages

Android iMessage Competitor Puts Pressure on Apple

Friday July 30, 2021 3:15 am PDT by
Google and the three major U.S. carriers, including Verizon, AT&T, and T-Mobile, will all support a new communications protocol on Android smartphones starting in 2022, a move that puts pressure on Apple to adopt a new cross-platform messaging standard and may present a challenge to iMessage. Verizon recently announced that it is planning to adopt Messages by Google as its default messaging...
iPhone 13 Always On Feature

iPhone 13 to Bring Over a Major Feature From the Apple Watch

Wednesday July 28, 2021 2:21 am PDT by
Apple's upcoming iPhone 13 lineup will feature an always-on display akin to the Apple Watch Series 5 and Series 6, according to recent reports. In his weekly Power On newsletter, Bloomberg journalist Mark Gurman, who often reveals accurate insights into Apple's plans, said that the iPhone 13 may feature an Apple Watch-inspired always-on mode. The Apple Watch Series 5 and Apple Watch...
duracell battery bitter coating

Apple Says Don't Buy AirTag Replacement Batteries With Bitter Coating

Wednesday July 28, 2021 11:08 am PDT by
Since AirTags were just released earlier this year and are expected to have a year-long battery life, it may be some time yet before AirTag users need a replacement battery, but when the time comes for a refresh, Apple is warning customers not to buy batteries with a bitter coating. AirTags use coin-shaped CR2032 batteries, which happen to be a size that's easy to swallow. Some battery...
a15 chip

iPhone 13 and Redesigned MacBook Pro Chip Production Hit With Gas Contamination

Friday July 30, 2021 5:44 am PDT by
The most important TSMC factory that manufactures Apple's chips destined for next-generation iPhone and Mac models has been hit by a gas contamination, according to Nikkei Asia. The factory, known as "Fab 18," is TSMC's most advanced chipmaking facility. TSMC is Apple's sole chip supplier, making all of the processors used in every Apple device with a custom silicon chip. Industry...
apple rtp land

Apple Preparing to Occupy 200,000 Square Feet of Temporary Space Ahead of New $1 Billion North Carolina Campus

Thursday July 29, 2021 9:14 am PDT by
Back in April, Apple announced a $430 billion investment over the next five years to create more than 20,000 new jobs as the company continues to expand. One significant piece of that plan is a new engineering and research center in North Carolina where Apple will be investing over $1 billion and hiring at least 3,000 employees. Assemblage of seven properties in Research Triangle Park owned by ...
Apple Leak Feature

Apple Demands Leaker Reveals Sources Under Threat of Being Reported to Police

Wednesday July 28, 2021 6:53 am PDT by
Apple has sent a cease and desist letter to a leaker based in China as part of its continuing attempts to curtail leaks of unreleased products, according to Vice. A Chinese citizen who shared images of stolen Apple prototypes on social media was sent a warning letter from Fangda Partners, Apple's law firm in China, on June 18, 2021. An extract from the letter read:You have disclosed without ...
macos monterey tidbits feature copy

Apple Releases New macOS 12 Monterey Public Beta

Wednesday July 28, 2021 10:19 am PDT by
Apple today seeded the third public beta of the macOS 12 Monterey beta to public beta testers, allowing non-developers to test the new macOS Monterey software ahead of its public release. The third beta comes two weeks after Apple released the second macOS Monterey public beta. Public beta testers can download the macOS 12 Monterey update from the Software Update section of the System...
iOS 15 General Feature Purple

Apple Releases New Public Betas of iOS 15, iPadOS 15, watchOS 8, and tvOS 15

Wednesday July 28, 2021 10:16 am PDT by
Apple today seeded the third betas of iOS and iPadOS 15 to public beta testers, allowing non-developers to download and test the new updates ahead of their fall release. The third public betas come two weeks after Apple released the second public betas. Public beta testers who have signed up for Apple's beta testing program can download the iOS and iPadOS 15 updates over the air after...
nothing ear 1 buds 1

Nothing 'Ear (1)' True Wireless Earbuds Launch to Take on AirPods Pro With ANC and Unusual Design for $99

Tuesday July 27, 2021 7:57 am PDT by
Nothing, a new brand from OnePlus founder Carl Pei, has today officially launched the "Ear (1)" true wireless earbuds after months of anticipation around the company's AirPods Pro rival. The Ear (1) features an in-ear design, Active Noise Cancelation, Bluetooth 5.2, IPX4 water resistance, and a charging case with Qi-compatible wireless charging and a USB-C port. Fast pairing is supported on...