Andre Yoskowitz
27 Oct 2011 23:06
According to multiple sources, the upcoming massive Apple Store in Grand Central is set for launch before Black Friday, the official start of the holiday shopping season.
Construction on the store will end on November 11th.
Apple bought out the space currently rented by Charlie Palmer's Metrazur restaurant for $5 million, ensuring Palmer breaks his lease 8 years early.
The MTA says Apple will pay $1.1 million rent per year, a significantly higher amount than Metrazur, which was paying $263,997.
Besides the space in the east balcony, Apple will take the vacant, adjacent balcony, as well. Overall, the company will occupy 23,000 square feet, making Grand Central its 3rd largest store.