The NY Post reports:
The deal is expected to fly through the MTA finance committee on Monday and the agency’s board of directors Wednesday for a final OK. At the end of the decade lease, the rent will move to more than $1M annually. Apple will also pay to refurbish the space.
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.
It is seriously entertaining watching Apple outdo itself time and time again. Putting a half acre plus store in one of the World’s iconic train terminals is putting Apple without peer in either electronics or retail.
