As the news from Apple's upcoming Worldwide Developers Conference will be winding down, the company will be gearing up for its next major retail opening in New York City, officially scheduled for June 13, and AppleInsider has exclusive photos of the store.
Located at 940 Madison Ave. on Manhattan's Upper East Side, the new Apple Store is set to open in two weeks. The June 13 grand opening will fall after the last day of WWDC, Apple's annual developer event where it will reveal the next-generation versions of iOS and OS X.
This week, Apple updated the facade outside its store with banners revealing the location will open on Saturday, June 13. AppleInsider reader Ryan, of Traced, Inc., visited the location and snapped pictures of the signs, which also feature local photos of the city snapped on iPhone 6 and iPhone 6 Plus.
The area of New York's Upper East Side where Apple's latest store is set to open is currently under a great deal of construction, with a number of high-end shops coming to the booming Manhattan neighborhood.
Construction on Apple's Upper East Side store began over a year ago. The retail outlet will be located in a 93-year-old historic bank, made of limestone and marble.
Located at the corner of East 74th Street and Madison Avenue, it was first occupied in 1921 by the United States Mortgage and Trust Company. Designed by architect Henry O. Chapman, the original building cost an estimated $600,000, which comes out to more than $7 million after adjusting for inflation.
While the exterior of the new Apple Store is largely complete, the interior of the Upper East Side location remains largely a mystery. This week, security guards were located outside, preventing passersby from taking pictures inside the store, but tables do appear to be already set up ahead of the June 13 launch.
The Upper East Side Apple Store will be the company's seventh in the city, joining retail locations in Manhattan on Fifth Avenue, at Grand Central, in SoHo, on the Upper West Side, and in the borough of Staten Island. Apple is also working on New York City retail locations at One World Trade Center, as well as in the borough of Queens at the Queens Center Mall.
26 Comments
Looked for 940 Madison avenue on Maps. This app is still a catastrophe. It showed me a store called "avenue" in St. Louis. Seriously. BTW I live in Europe and the map was initially centered on my town.
Anyone knows what the monthly/ yearly lease is on this? just wondering...
[quote name="Beluga" url="/t/186482/apples-upper-east-side-store-in-manhattan-to-open-amidst-wwdc-on-june-13#post_2728698"]Anyone knows what the monthly/ yearly lease is on this? just wondering... [/quote] Easy, it's exorbitant. Last year the average in that area was around $3000 per square foot. Apple was probably able to get a better rate, but it's still pretty high.
Its 9000 square feet... thats $27million (per year I presume)... I think thats much too high... In another article its quoted that
"The building offers a 95-foot wide storefront, and a total of 9,000 square feet of space – including the original bank vault. While some of that space will of course be reserved for storage and back office functions, 9,000 feet of Apple retail space would typically generate a cool $54M per year."
I don't think generating $54mil per year and having to pay $27mil for rent and another $20mil for everything else maybe (payroll, ect).. leaves much room for profit.. any thoughts?
Looked for 940 Madison avenue on Maps. This app is still a catastrophe. It showed me a store called "avenue" in St. Louis. Seriously.
BTW I live in Europe and the map was initially centered on my town.
What may be a catastrophe is your lack of knowledge of American history; "Madison", being the 4th President of the United States, is an absurdly popular American street name, not quite up to "Washington" standards (4,974 named for him...), who, btw, was the first President of the United States, but in the running. So add an "NYC" and ONE building is located, the correct one, absent that, well, big list....