Beam it Manhattan
Earn rewards as you ask and share your Manhattan favorites
Already a member?      Sign in | Join Now

      Bonus points if you can assign it to a specific neighborhood or category
      Back to all Manhattan Questions

      • Grand Central Apple Store boosts business for others in the station!

        Nickolai  • 1284
      other      All     
      Not only does the Apple store inside Grand Central Terminal mean you can buy an iPad on your way to or from work, but other businesses are seeing a boost from the tech store's presence. Other GCT stores saw a 7.5 percent increase in profits since the world's largest Apple store opened there in December 2011 through March compared to the same time period a year earlier. The boost had already been observed at the adjacent Michael Jordan's The Steakhouse in February. "It's definitely bringing in more people, especially tourists," Carlo Meneghin, manager at Grande Harvest Wines, said. When Apple's lease with the MTA was first announced, State legislators were concerned over the lack of revenue-sharing payments from Apple, but the MTA pointed out that the increase in foot traffic would increase revenue from all other retailers. Turns out they were right. The extra profits other businesses are enjoying thanks to the Apple store may also enable the MTA to charge higher rents from future tenants.
      Nickolai  • 1284
      2Badge  1Badge  242Badge
      Log in to comment or register here.