Apple Gets Planted in Grand Central Station

Everything is bigger in New York City-the buildings, the crowds, the traffic congestion, and now Apple’s newest retail store. According to the Wall Street Journal, Apple opened a new store in the Grand Central Terminal in Manhattan, New York last week at 10am on Friday, December 9th. This makes the fifth Apple store in New York City and one of three-hundred worldwide. It overlooks the main concourse on the east and northeast balconies. According to Apple, 2,500 people awaited the store’s grand opening and had received nearly 4,000 visitors before noon. To date, this is the biggest of Apple’s stores; spanning 23,000 square feet.

While the store itself has all the necessities of your typical Apple store, aesthetically it’s conformed to the style of the historical landmark. One feature very unique to this store would be the fifteen minute” express classes” on the use of Apple’s products. These classes are intended for commuters who are looking to kill time between departures. Also offered through iPhone apps are self-checkout and personal pick-up services for the customers on the go.

Even though Apple is not sharing revenues (unlike other venders in the building) with the Metropolitan Transit Authority- the company owning the Grand Central Terminal- they believe Apple’s presence quadruples rent and will strongly increase foot traffic to other retailers in the same area. Apple is shelling out $180 per square foot over their ten year lease on the space. Apple’s bill for the commercial space also includes paying $5 million to buy out the lease of the prior tenant, $1.1 million for yearly rent, and $2.5 million for construction. This is certainly a big bite for the big apple! The next time you’re experiencing the enormous grandeur of the city that never sleeps, stop by Grand Central and see Apple’s huge new store for yourself!

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