Economic Stimulus

Apple Store in Grand Central Boosted Neighbors’ Sales by 7.5 Percent

Basically, we've found a fix for the economy.
hanging apple arch e1323274440905 Apple Store in Grand Central Boosted Neighbors Sales by 7.5 Percent

This white Apple apple shines out over commuters, visible from every corner of the terminal.

The Apple store in Grand Central Terminal is almost a retail take on the open kitchen, as it consists of a series of displays along the East balcony and no doors. Looking up from below, it’s as if the atmosphere is dotted with white boxes floating up toward the painted constellations.

The majestic ambiance is having an impressive effect on customers, reports the Daily News, as neighboring restaurants and shops have seen their sales between December and March go up 7.5 percent compared to the same period last year. At least some of that is attributable to Apple, MTA officials said at a public meeting.

The extra bump is due to increased foot traffic from Mac fans, store owners told the New York Post. “Especially tourists.”

“Apple has been a super thing for tenants and the overall public,” said¬†Nancy Marshall, director of Grand Central development at the MTA. “The tenants couldn’t be happier.”

In other words, the generous terms of Apple’s lease, which did not include the normal revenue-sharing the MTA usually demands of Grand Central tenants, served as a stimulus package in disguise for the 100-some businesses renting in the terminal (you’re welcome, Cipriani Dolci!). But perhaps the MTA is a bit optimistic in attributing the station’s good fortune to the Apple store. What about those cool Art of Shaving ads?

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