Apple Signs Deal for 23,000 Square-Foot Grand Central Terminal Store [Update: Rendering]

by

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
124 months ago
Im most excited for the Vatican Apple Store.
Score: 10 Votes (Like | Disagree)
jinjo235 Avatar
124 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
124 months ago
Oh no! Look out NY more Grand Central traffic headed your way.:D
Score: 2 Votes (Like | Disagree)
shartypants Avatar
124 months ago
Would love to see it when its done!
Score: 2 Votes (Like | Disagree)
dmbfrontier Avatar
124 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
124 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

iphone 5s black slate

Images of Unreleased iPhone 5s in Black and Slate Shared Online

Sunday January 17, 2021 9:47 am PST by
Twitter user @DongleBookPro has today shared images of a prototype iPhone 5s in an unreleased Black and Slate color. The iPhone 5s was launched in September 2013. The device featured Touch ID, a 64-bit processor, and a True Tone LED flash for the first time. Other new features included a five-element lens with an f/2.2 aperture, a 15 percent larger camera sensor, Burst Mode, and Slo-Mo...
iP12 charge airpods feature 2

Hidden iPhone 12 Hardware Feature Could Still be Unlocked

Thursday January 14, 2021 2:51 am PST by
All iPhone 12 and iPhone 12 Pro models purportedly have a hidden reverse wireless charging feature, according to an FCC filing. The feature has not yet been activated, but could yet be unlocked for an upcoming Apple accessory. The FCC filing suggests that iPhone 12 models contain the hardware for Wireless Power Transfer (WPT) to accessories: In addition to being able to be charged by a...
Top Stories 43 Feature

Top Stories: MacBook Pro, iMac, Mac Pro, and iPhone Rumors, Best of CES 2021

Saturday January 16, 2021 6:00 am PST by
This week was sure a busy one in the Apple world, with a flurry of announcements out of CES early in the week followed by a rash of Mac- and iPhone-related rumors later in the week. The new rumors this week included details on updated MacBook Pro, iMac, and Mac Pro models, as well as a few other tidbits, so make sure to read on below to get caught up! Kuo: New MacBook Pro Models to...
foldable iPhone concept feature

Apple Testing In-Display Fingerprint Sensor for iPhone 13, Foldable iPhone Also in the Works

Friday January 15, 2021 1:46 pm PST by
Apple has started "early work" on an iPhone that has a foldable display, according to a new report from Bloomberg's Mark Gurman. Though testing of a foldable iPhone has begun, Apple has not committed to releasing a device that has a foldable display. Development has not yet expanded beyond a display and Apple does not have full foldable iPhone prototypes in its labs. Like foldable...
16inchmacbookpromain

Kuo: New MacBook Pro Models to Feature Flat-Edged Design, MagSafe, No Touch Bar and More Ports

Thursday January 14, 2021 9:32 pm PST by
Apple is working on two new MacBook Pro models that will feature significant design changes, well-respected Apple analyst Ming-Chi Kuo said today in a note to investors that was obtained by MacRumors. According to Kuo, Apple is developing two models in 14 and 16-inch size options. The new MacBook Pro machines will feature a flat-edged design, which Kuo describes as "similar to the iPhone 12" ...
macbook pro flexgate

Apple Extends 13-Inch MacBook Pro Backlight Repair Program

Sunday January 17, 2021 10:31 am PST by
Apple this week extended its worldwide 13-inch MacBook Pro Display Backlight Service Program, authorizing coverage for eligible notebooks for up to five years after the original purchase date or up to three years after the start date of the program, whichever is longer. The previous cutoff was four years after the original purchase date. Apple launched the program on May 21, 2019 after...
iphone x camera close

iOS 14.4 Will Introduce Warning on iPhones With Non-Genuine Cameras

Thursday January 14, 2021 8:07 am PST by
In the second beta of iOS 14.4 seeded to developers and public testers this week, MacRumors contributor Steve Moser has discovered code indicating that Apple will be introducing a new warning on iPhones that have had their camera repaired or replaced with aftermarket components rather than genuine Apple components. "Unable to verify this iPhone has a genuine Apple camera," the message will...
Apple TV Ray Light 2 Triad

Apple Extends Free Apple TV+ Trials Until July

Friday January 15, 2021 10:50 am PST by
Apple is once again planning to extend its free Apple TV+ trial subscriptions, this time until July. When Apple TV+ launched in November 2019, Apple offered free Apple TV+ subscriptions to those who purchased a new Apple device in or after September 2019. Those free subscriptions were set to expire in November 2020, but in October 2020, Apple announced that it was extending free trials...
mac pro mini feature

Apple Working on Two New Mac Pro Desktops, One of Which Will Be Reminiscent of Power Mac G4 Cube

Friday January 15, 2021 10:23 am PST by
Apple is developing two versions of the Mac Pro to succeed the Mac Pro that was first released in December 2019, according to a new report from Bloomberg. The first updated Mac Pro is a direct successor to the current Mac Pro and it will use the same design. It may also be equipped with Intel processors rather than Apple silicon chips, and it could be one of the sole machines in the Mac...
macbook pro magsafe

MagSafe is Coming Back to the Mac: A Look Back at Apple's Original Magnetic Charging Technology

Friday January 15, 2021 12:16 pm PST by
Surprise late night rumors last night provided us with our first in-depth look at what we can expect from the new MacBook Pro models that are coming in 2021, and there are some significant changes in the works. Along with additional ports, a new flat-edged design, and the removal of the Touch Bar, Apple's updated MacBook Pro machines will readopt MagSafe. MagSafe in the 2021 MacBook Pro...