While no official announcement has been made, the New York Post reports that Apple’s Grand Central Station retail store will be opening next weekend – and that Apple has negotiated their way into only paying a third as much rent as other retailers!
The new retail space is reportedly costing Apple just $60 per square foot, compared to the $200 per square foot rate paid by other retailers for the same space.
Apple has also dodged having to share any of their retail revenue with the Metropolitan Transportation Agency (Grand Central’s operator), as the presence of an Apple Retail Store will drive significantly more customers to other retailers, making more money for the terminal as a whole.
Apple has recently removed boards from the store’s perimeter, and the store face now shows a digital ticker, which displays memos about Apple’s products and promotions, and announces that the store will be opening soon.
