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Apple's 'stunning' Grand Central Station store: By the numbers
The tech giant opens a gleaming retail space within the Beaux Arts landmark. But did the government landlord give Apple too sweet of a deal?
 
Apple's new Grand Central Station store opened to the public last week, reportedly welcoming 4,000 people on the New York City location's first day.
Apple's new Grand Central Station store opened to the public last week, reportedly welcoming 4,000 people on the New York City location's first day.
Spencer Platt/Getty Images

On Friday, thousands lined up for the opening of the new Apple store at Grand Central Station in New York City. The new location is one of Apple's largest in the world. Here, a brief numerical guide to the "stunning" new store:

23,030
Square footage of the new Apple store at Grand Central Terminal, making it one of the largest Apple stores in the world, and the second-biggest tenant at Grand Central. The largest space is the 25,000-square-foot Oyster Bar & Restaurant.

315
Employees working in the store

2,500
People waiting in line before the store first opened on Friday, according to Apple

4,000
People who visited the store on its first day, according to Apple

300 million
People around the world who have visited an Apple store this year, according to Apple

60 million
People who visited Disney's four biggest theme parks last year

$2.5 million
Amount Apple reportedly spent renovating the space at Grand Central
 
$5 million
Amount Apple reportedly paid to buy out the previous tenant. The restaurant, Metrazur, wasn't due to move out for eight years. The Metropolitan Transportation Authority may have actually ponied up the $5 million, though agency officials insist that the funds came from Apple

More than 400
Percentage increase in annual rent the MTA will reportedly collect from this space now that Apple has replaced Metrazur

$60
Amount per square foot that Apple is paying for the space, according to some reports. That's well below many of Apple's Grand Central neighbors, prompting a probe by the state Assembly. 

$180
Amount
 per square foot that Apple is paying, according to Aaron Donovan, an MTA spokesman. Apple is "quadrupling the rent we receive and bringing foot traffic to Grand Central Terminal that will increase revenue from all of our retailers," he says.

$86.86
Amount per square foot that upscale restaurant Cipriani pays at Grand Central. Apple may be paying a premium rental price because it did not agree to share revenue with the MTA, unlike all of the station's other 99 tenants.

750,000
People who are expected to pass by the store each day

$100 million
Sales the new store is expected to net for Apple each year

70
Percent that Apple's retail sales, not including online sales, increased in 2010

4.5
Percentage growth for the overall retail industry during that same period

Sources: Daily News, Mashable, New York Post, Wall Street Journal, Yahoo

 

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