Apple Inc. (NASDAQ:AAPL) is preparing to open their new store in the Grand Central Terminal in New York. It would be opened in the backdrop of the train station’s night-sky ceiling and the four-sided information clock. The Apple store would be 23,000 square feet and will have 315 employees.
The interior of the retail store will be similar to all the other Apple retail stores. There will be tables set up for testing out products and there is express purchasing. The Genius Bar will be in the southwest corner of the store.
This is Apple’s fifth retail store in New York City and now the company has over 300 stores worldwide. Over 12 million visitors have been in the Apple retail stores in New York this year alone. Over 300 million people have been inside Apple stores worldwide this year.
Apple reportedly signed a 10 year lease for the Apple retail store and they paid Metrazur restaurant $5 million to clear out early. Apple will not be sharing revenue with the transit authority through the deal that they have landed. Apple is paying $180 per square foot and that is less than the other tenants in the area, but the MTA said that $5 million payment to the restaurant makes up for it. Apple is also putting $2.5 million in capital investment in the space and a $1.1 million annual rate.
The daily foot traffic in New York’s Grand Central Terminal is about 750,000 people. The Grand Central Apple retail store has a personal pick up service as well. This way commuters can buy Apple products through the Apple Retail Store app their iPhone, iPad, or iPod Touch and immediately pick it up from the store.
The Grand Central Apple Retail Store will have 15-minute express classes for Apple products for commuters looking to pass some time. The Grand Central Store will be opening on December 9 at 10AM EST.