New York state officials are looking into Apple’s “sweet deal” for a new store in Grand Central Terminal in the Big Apple, according to “The New York Post” (http://macte.ch/YUaPf).
State Comptroller Thomas DiNapoli has reportedly launched an investigation into whether the Metropolitan Transportation Authority gave Apple overly generous terms on its lease for the shop, which is slated to open next week. The probe comes in response to yesterday’s exclusive report by “The Post,” which noted that the cash-rich tech giant will be the only retailer among the 100 or so in MTA’s Grand Central Terminal not required to make revenue-sharing payments to the agency landlord.
What’s more, Apple’s 10-year lease for a space on the northeast balcony of the historic commuter hub overlooking the Main Concourse is well below the rate being charged to many neighboring tenants, according to “The Post.” Apple’s lease amounts to approximately US$800,000 for the first year.
