The store is due to open next weekend and is expected to generate more than $100 million in sales. Apple retail workers at the Grand Central store in New York are unionizing with the Communications Workers of America (CWA) rather than Workers United as originally planned. There’s no doubt that an Apple Store within the Grand Central building will boost numbers within the space but State watchdogs are making sure it is all above board. They are effectively paying $180 per square foot over the 10 years of the lease, almost 10 times the previous tenant.”
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“The MTA moved proactively to maximize revenue and quadrupled the rent we receive for this unique space. He acknowledged that the MTA has worked to the Comptroller’s recommendations: Apple is also reported to have paid $5 million to the previous occupants of the space to move from the location. However, MTA spokesman Aaron Donovan moved quickly to state that Apple has helped to develop the Terminal’s infrastructure, introducing elevators to assist customers with their navigation throughout the store. “This is a prime property, and I intend to make sure that the MTA hasn’t given away the store.” “The article in the New York Post about the MTA’s contract with Apple in Grand Central Terminal is a cause for concern,” DiNapoli said in a statement yesterday.
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State Comptroller Thomas DiNapoli has launched a probe into whether the MTA gave Apple favourable treatment for its lease: The store, which is expected to open next weekend is said to be costing Apple $60 per-square-foot, whereas other retailers are expected to pay $200 for the same area. Apple is also reported to have escaped having to share any of its revenue with Grand Central’s operator, the Metropolitan Transportation Authority, as the sheer presence of an official retail store will drive customers to other retailers and increase footfall within the Terminal itself. Watchdogs were alerted by a previous report which suggested that Apple had obtained favourable terms on its Grand Central store lease, which was found to be more than three times less than other retailers in the building’s retail areas. Black Friday falls on November 25th this year, and Apple is said to possibly be shooting for a grand opening on November 12th, in line with the previously-reported four-month construction timeframe with respect to last month's project approval.The store is said to be subject to a State probe after details of a favourable lease secured by Apple for its new retail store in New York’s Grand Central Terminal caught the attention of authorities, the New York Post reports. In addition, Apple has reportedly indicated that it is planning to open the store in time for the "Black Friday" shopping rush, which falls on the day after Thanksgiving in the United States and represents the kickoff to the holiday shopping season.
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We've been told by an employee at Grand Central Terminal that crews have already demolished the kitchen area of the former Metrazur restaurant and are working to turn it into a storage room for the Apple retail store. As noted at last month's approval for the project, Apple will be able to move forward on a very tight construction timetable due to the fact that only minimal changes to the building itself are permitted.Įarlier this month, one MacRumors reader passed along a photo showing the closed off stairway to the former Metrazur restaurant where the Apple retail store is being constructed, suggesting that at least preparatory work was underway to close the restaurant and turn the site over to Apple's contractors.Īnother reader has now passed along new photos showing work underway, and while the view from the concourse below the store is primarily of scaffolding and plastic tarps, it is clear that things are moving forward. Work has begun on Apple's massive new retail store in Manhattan's historic Grand Central Terminal as the company works quickly to try to open the store in time for the holiday shopping season.