The cash strapped MTA announced a plan today to wring additional revenue from their crown jewel real estate holding, Grand Central Terminal.
APPLE will open another of its iconic retail shops up on the mezzanine formerly occupied by Charlie Palmer’s Metrazur Restaurant.
WSJ.com
According to the Wall Street Journal, Metrazur paid $263,997 a year whereas APPLE will pay over four times that, about $1.1 million.
APPLE also reportedly paid Charlie Palmer a $5million fee to vacate his prime lease early. APPLE retails in over 300 locations worldwide.
Also part of the announcement included a triumph for Danny Meyer’s SHAKE SHACK, with plans to open one of their very popular hamburger stands near the Oyster Bar.
madisonsquare.org
Shake Shack currently operates in 5 New York locations, plus Westport Connecticut, Miami Beach, Washington DC, Saratoga Springs, Dubai in United Arab Emirates and Kuwait.
"I can't imagine why any kid in Westchester would want to do anything other than go into Grand Central and shop at Apple and eat at Shake Shack," said Jeffrey Rosen, the MTA's real estate director.
Indeed.
Kids of all ages.
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