NY Comptroller Investigates Apple Store Deal with MTA

New York state regulators are probing Apple's deal to open a store at Grand Central Terminal in Manhattan.

According to an articleon The New York Post, State Comptroller Thomas DiNapoli has launched an investigation into the deal signed by Apple with the Metropolitan Transportation Authority to determine whether the terms of the deal were extremely favourable to Apple or not.

The investigation comes after the NY Post published an article that claimed Apple is going to be the only retailer that won't share its revenue with the agency landlord.

It was also reported that Apple is paying a lot less lease rent to the authority per year as compared to most of the tenants in the station. As per Apple's deal with the authority, it would have to pay $800,000 in the first year.

"The article in the New York Post about the MTA's contract with Apple in Grand Central Terminal is a cause for concern. This is a prime property, and I intend to make sure that the MTA hasn't given away the store," DiNapoli said in a statement.