Apple's 'Amazing' Grand Central Station Deal Outlined in New Report
New details have emerged regarding Apple's huge contract with the Metropolitan Transportation Authority (MTA) to put an Apple Store in New York City's Grand Central Station.
The New York Post reports that Apple will not have a revenue-sharing model in place with MTA - something that makes the deal with Apple especially sweet (for Apple) given that the tech giant is projected to take in $100 million annually at this high-profile location.
The Post reports that Apple’s $60-a-square-foot lease is "well below what many other tenants are paying" — including a future Shake Shack burger establishment, which will pay more than $200 a square foot.
As MMi previously noted, the store will cover a massive 23,000 square-foot range - roughly 3,000 square feet more than Apple's current biggest stores. That's a whole lot of space to accommodate the huge flow of traffic that passes through Grand Central Station - particularly during the holidays.
Apple's biggest - and possibly most profitable - store will (finally) open in Grand Central Station next weekend.
Source: New York Post