Approval Expected For World's Biggest Apple Store In New York

It seems a deal is about to be done to create the biggest Apple Store in the world - in Grand Central Terminal in New York.

The project has been rumoured for some time, but the New York Post reports that Apple is poised to sign a deal with the Metropolitan Transport Authority, which runs Grand Central.

The 23,000-square-foot store will take up Grand Central's north and northeast balconies, displacing Charlie Palmer's Metrazur restaurant, according to MTA documents.

Apple will initially pay rent of $800,000 a year, nearly half a million more than Metrazur paid.

After 10 years, the rent will balloon to more than $1 million annually.

The company will also pay to refurbish the space.

The MTA is estimating that the deal will bring it a minimum of $5 million in profits.

The MTA is due to make a decision on Wednesday, July 27.  Currently, the world's biggest Apple Store is at Covent Garden, London.

(Source: New York Post)

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