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Apple Officially Signs On for Grand Central Store

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According to the New York Post, Apple has officially signed on to open their 23,000 square foot megastore in Grand Central. They'll be paying $800,000 a year for the first ten years, with rent ballooning to $1 million per annum thereafter. It's going to be Apple's responsibility to refurbish the place, but we doubt they're too upset with the terms of this deal. It's not 100% yet, "The transit agency will ask its financial committee to approve the deal Monday. If it passes as expected, the deal will go to the agency's board of directors Wednesday for a final OK." Their minimum of $5M in profits is sure to make the MTA happy, but commuters are in for a treat whenever a new iPad or iPhone is released. Don't mind the tent city of nerds, Westchester commuters, they'll be gone soon.
· Apple Store Coming to Grand Central [NYP]
· Apple Store Coverage [Curbed]