Recently unearthed documents have revealed that Apple is planning to open a retail outlet in New York’s Grand Central Terminal, which will be the biggest Apple Store in the world when it opens.
Citing certain Metropolitan Transit Authority documents, The New York Post has revealed that the store will cover a massive 23,000 square-foot area and will utilise the station’s north and northeast balconies.
The new Apple Store will replace celebrity chef Charlie Palmer's Metrazur restaurant. The company will be taking up the cost of the store’s re-modelling and will be paying $800,000 rent for the first ten years. Palmer used to pay less than half of that.
After the first ten years are up, the rent will be increased by more than a million dollars annually. The MTA’s financial department will approve the deal on Monday, after which it will appear before the transit authority’s board of directors for the final approval on Wednesday.
“We have received a proposal from Apple that has the potential to bring a great new shopping destination to iconic Grand Central Terminal and significantly increase revenues for the MTA's transportation system,” an MTA spokesperson said.