AppleInsider Staff
Apple is preparing to boost its presence in New York with a space in the upcoming World Trade Center site mall and a nearly century-old converted bank building, both of which are scheduled to open in 2015.
According to a report by New York real estate publication The Real Deal, Apple is on the list of high-end retailers expected to open up shop in the upcoming World Trade Center mega mall.
Developed by Westfield Group, the 365,000-square-foot, multi-level mall will feature a striking central structure designed by fame architect and sculptor Santiago Calatrava. Seen above in an artist rendering, the skeleton-like building will house tenants both above and below ground.
Apple was first reported to be nearing a lease agreement in September of last year, but confirmation of a deal has been pending. Sources now say Apple, which is expected to lease an underground space, did not take kindly to the rib-like columns of Calatrava's design that extend downward into the lower levels of the building.
Source: The Real DealOther retailers have expressed similar concern over the structures, which are said to block storefront space that could be used for signage and product displays. Apple apparently offered an alternative design, but was rebuffed by developers.
As seen in the image above, the WTC Apple Store will take residence in what looks to be a corner space adjacent to Michael Kors and across from John Varvatos.
Source: Museum of the City via ifoAppleStoreA separate report from ifo Apple Store claims another Manhattan Apple Store project is currently underway in a 93-year-old bank building on the Upper East Side.
Sources say Apple has started renovations to a historic limestone and marble building on the corner of East 74th Street and Madison Avenue first occupied in 1921 by United States Mortgage and Trust Company. Designed by architect Henry O. Chapman, the original build cost is estimated to be around $600,000, which comes out to more than $7 million after adjusting for inflation.
Aside from minor renovation, the interior of the building has seen surprisingly little change after changing hands from various banks, an art gallery and the current occupant, high-end handbag maker VBH.
According to the publication, floor pace stands at 4,000 square-feet at the ground level, a 1,000-square-foot mezzanine and a 4,000-square-foot basement. Considering the current construction schedule, Apple's sixth Manhattan store could open by the end of 2015.
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22 Comments
Looking at the other brands in the mall directory, it looks like Apple is joining some very nice company.
At the mall near me they have the Apple Store one floor above and directly across from Victoria's Secret Pink. When Pink opened it was on the same day as an Apple launch (iPad I think). So you had two huge line-ups at the same time, with one line having a large number of tech geeks and the other one mostly made up of "babes". And watching all the guys at Apple looking over at the girls at Pink. Then the Microsoft Store opened and it happens to be directly across from Victoria's Secret, who have several large video walls with scantily clad models parading up and down. It's funny when the store isn't busy and the guys are standing around staring across at the models. When I saw this new mall I noticed Victoria's Secret was also listed and made me think it would have been funny if it was right by the Apple Store.
Does Apple try to buy any of the space it puts up its Apple Store? I've read that McDonald's has so much property that it's the largest real estate holder in the world that isn't sovereign nation and they have large department simply for maximizing investment properties. Could Apple be doing the same thing? There will never be Apple Stores the way there are McDonald's but I'd think that Apple's long-term outlook could make such properties increase profits simply buy being owned.
[quote name="SolipsismX" url="/t/179080/apple-store-reportedly-confirmed-for-wtc-mall-as-work-begins-on-6th-manhattan-outlet#post_2528498"]Does Apple try to buy any of the space it puts up in Apple Store? I've read that McDonald's has so much property that it's the largest real estate holder in the world that isn't sovereign nation and they have large department simply for maximizing investment properties. Could Apple be doing the same thing? There will be Apple Stores the way there are McDonald's but I'd think that Apple's long-term outlook could make such properties increase profits simply buy being owned.[/quote] That's a very good question. I wish AppleInsider would dig into that, instead of the usual click bait editorials :)
Hope that Longines, Montblanc and Breitling don't get too angry if Apple launches a watch... Would be funny to see what happens. Maybe one of those spaces becomes free for Burberry's...