Grand Central Apple Store to Open December 9th

Grand Central Apple Store to Open December 9th

Apple has officially announced that their Grand Central Terminal retail store will be opening on Friday, December 9th, reports TheNextWeb, confirming previous rumors. Apple has updated the storefront marquee to reflect the store’s opening date.

Also interesting is that, according to the New York Post, Apple’s lease terms, which we reported yesterday were significantly better than terms offered to other stores in the terminal, are now being investigated by the State of New York to determine whether the arrangement is actually fair.

Of course, despite Apple having gotten a pretty good deal on the retail space, they are still paying four times the amount paid by the space’s previous occupant, and have significantly invested in improving the space by adding features like an elevator.

Further, considering that Apple paid around $5 million to buy out the previous occupant’s lease, their real cost is more like $180 per square foot rather than the $60 per square foot argued earlier.

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