This week Apple’s future Grand Central store has been getting a lot of attention. From rumors about Apple bidding for space in the Grand Central terminal to a rumor stating that their bid had been approved. Today, The Wall Street Journal has posted some gorgeous renderings of what the Apple Store in the Grand Central would look like.
In addition, more details have emerged about Apple’s future store in the Grand Central terminal. Their bid should be approved on Wednesday and Apple will begin construction immediately. A construction time of 4 months is estimated. Also, Apple is paying $5 million to Charlie Palmzer’s Metrazur restaurant to vacate its space on the terminal’s east balcony more than eight years before their lease expires. Crazy, but I guess that’s type of power an insanely large cash pile will offer a company!
Apple is paying Charlie Palmer’s Metrazur restaurant $5 million to vacate its space on the terminal’s east balcony more than eight years before its lease expires. The MTA will get significantly higher annual rent: $1.1 million from Apple vs. $263,997 from Metrazur.
The Apple Store will be located adjacent from the current vacant balcony on the northeast side of the terminal. Not only did the MTA (Metropolitan Transportation Authority) mention an upcoming Apple Store, but also announced that a Shack Shack was going to open in the Grand Central terminal. The MTA is very excited about the Apple Store and Shack Shack.
In addition to the space currently occupied by Metrazur, Apple will move into an adjacent, currently vacant balcony on the northeast side of the terminal.
I can’t imagine why any kid in Westchester would want to do anything other than go into Grand Central and shop at Apple and eat at Shake Shack,Rosen said.
I can’t even imagine the impact this store will have on Apple’s iconic Fifth Avenue store. In four months, this store will probably leave the Fifth Avenue eating its own dust.