Apple Signs Deal to Open Store in New York City's Grand Central Terminal -NY Post

Apple AAPL has signed a deal with New York's MTA to open a new retail store in Grand Central Terminal, according to the New York Post. The 23,000-square-foot store will take up Grand Central's north and northeast balconies, displacing Charlie Palmer's Metrazur restaurant, according to MTA documents. Apple will initially pay rent of $800,000 a year, nearly half a million more than Metrazur paid. After 10 years, the rent will balloon to more than $1 million annually.