One of the world's biggest Apple stores is opening at New York City's Grand Central Terminal.
The 23,000-square-foot business will start selling to the public Friday.
The owner of the space is the Metropolitan Transportation Authority, which runs the city's transit system. It says Apple Inc. is paying $180 per square foot -- slightly less than the $200-per-square-foot going rate at the iconic Manhattan train hub.
By leasing to Apple, the MTA says it's quadrupling the rent for Grand Central's east balcony overlooking the main concourse, with basement storage. It says the draw of the Apple name promises to increase foot traffic to other businesses at the terminal.
Cupertino, Calif.-based Apple signed a 10-year lease with the MTA for the space once occupied by Charlie Palmer's Metrazur restaurant, which got $5 million from Apple to clear out early.
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