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WSJ: Apple still eyeing Grand Central terminal for new retail store

Grand Central  Station

Last week, The New York Observer claimed an anonymous source within the Metropolitan Transit Authority confirmed that Apple has killed plans to lease space within New York's Grand Central terminal. Today, the Wall Street Journal refutes that report with its own sources that suggest Apple is still considering the lucrative retail space.

According to the WSJ, the MTA has spoken with Apple and is hopeful the retail giant will bid on a balcony space, which will be available this summer. The site is the current home of the Métrazur restaurant, which is closing July 1st. Owned by celebrity chef Charlie Palmer, the restaurant has a lease on the spot until 2019, and any prospective bidder would have to pay Palmer a lump sum to vacate his lease.

It's a small location with a mere 15,000 square feet of retail space. Apple may also find it difficult to customize the site to its liking as Grand Central Station is a historic landmark, and all renovations require approval from the Landmarks Preservation Commission. Despite these limitations, the retail space is a high-profile location with tens of thousands of visitors each day.

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