Apple Store, Grand Central Station, Retail Localization

Grand Central’s Apple store will be open by Black Friday

Apple Store, Grand Central Station, Retail Localization

Manhattan’s getting close to having another "Big Apple."

The enormous Apple Store in Grand Central Terminal is set to open in time for Black Friday, and could possibly open sooner, a source told 9to5mac.com.

The store, Apple’s fifth in Manhattan, will be one of the company’s biggest in the world, taking up some 23,000 square feet in the highly trafficked terminal. (Up to 700,000 commuters trek through every day.) The deal was finalized this summer.

Apple — which certainly has no shortage of cash — will pay about $1.1 million in the first year of its 10-year lease, with the rent increasing every year. The deal was first announced this summer, with construction estimated to take 120 days — putting a November opening date right around schedule.

Apple’s not the only new tenant for GCT. Everyone’s favorite stand-in-line-for-an-hour burger joint Shake Shack is also moving in. Its lease, which also runs 10 years and increases yearly, starts out at $435,000 plus a share of profits.

The MTA declined to comment. Apple didn’t return calls.

[via AM New York]

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