Apple Signs Deal To Open Store In Grand Central Terminal

Grand Central Terminal

Photo: (cc) Daniel Morris via Flickr

Apple has signed a deal with New York’s MTA to open a new retail store in Grand Central Terminal, according to the New York Post.The 10-year agreement will cost Apple $800,000 per year to lease 23,000 square feet in space, plus the costs of rennovation.

However, the deal isn’t final. It must be approved by the MTA’s financial committee and board of directors this week. The New York Post says both are expected to approve.

The MTA is notoriously strapped for cash, and an Apple Store in Grand Central Terminal is estimated to bring the Authority $5 million in profits over the course of the deal.

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