Flagship New York Apple Store site may get even bigger

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Apple's Fifth Avenue retail store opens in New York City.
Apple wants to expand its space in New York. It just doesn't want to pay full price to do it.
Photo: Apple

It may not have been the first Apple Store, but Apple’s Fifth Avenue New York retail outlet (a.k.a. the big glass cube) is almost certainly the most famous Apple Store in the world — and it may be about to get even bigger and more impressive.

According to a new report, while Apple is overhauling its iconic New York store it plans to occupy the nearby 61,000 square foot FAO Schwarz space in the GM Building, and may even consider keeping this space permanently in addition to its existing site.

The only problem is that Apple doesn’t want to pay full price for the real estate. That’s because it is arguing that it is “entitled” to the space due to making the site a global tourist draw. As such, it’s asking for a reduction on the space which normally charges costs of $2,700 to $4,450 per square foot.

While Apple’s certainly not struggling for cash right now, and its Fifth Avenue site is a big money spinner, it’s hard to disagree that the existence of the store has made it something of a pilgrimage site for Apple fans. In fact, so popular is the Apple Store that it has become New York City’s most photographed landmark.

Does that make it worthy of a discount on rental prices? I guess we can wait and see.

Source: New York Post