Special Report: Third Manhattan Apple store to dwarf them all
Confirming AppleInsider's preliminary investigations, a New York Post journalist has found that Apple will indeed rent out a high-profile space at 401 W. 14th Street, a recently upscaled building at the heart of the Meatpacking district.
The company will tap brokers R.K. Futterman & Associates and property owner Taconic Partners for a combined 32,000-square-foot slice of the 52,605-square-foot, three-story complex. Apple's share will extend up to the second floor and should consume all but a sliver of the space available on each level the firm will occupy, leaving the third and final level to penthouses, a terrace, and smaller third-party retailers or restaurants.
Apple's choice will also give it nearly all of the 125 feet of storefront visibility along 14th Street and an additional 108 feet along 9th Avenue, guaranteeing that it will stand out among other luxury goods dealers in the area such as Jeffrey, La Perla, and Stella McCartney.
More important, however, is the sheer scope of the proposed store in comparison with Apple's two existing Manhattan-area retail presences — if not the world. The space will easily outsize both the 21,577 square feet of Apple Store SoHo and the yet-larger 25,000 square feet of the subterranean Fifth Avenue location. Property allotted to the third store will be so large, in fact, that its showrooms alone should dwarf the total area given to either of the present-day Apple stores.
The current leader, London's just-expanded Regent Street store , should also have its 28,000 square feet edged out by the new midtown Manhattan offering.
The Meatpacking district store has a further record-setting potential as one of Apple's single most expensive properties to date. While news sources from the initial announcement have pegged the yearly rental per square foot on the ground floor at $300, new details suggest that this figure has climbed to $400 since the departure of earlier tenants. For reference, the SoHo store's overall cost per square foot was listed as just short of $95 in mid-2004.
With these figures in mind, it quickly becomes evident that Apple is taking its greatest risk yet, betting that an expansive boutique at one of the premier intersections in New York City will only serve to accelerate the breakneck pace of the company's growth in recent months.
72 Comments
And the beat goes on ...
And the beat goes on ...
Guys/Gals,
If anyone is in the area of the Meatpacking district today and can snap a photo of the proposed location listed in the article, it would be greatly appreciated. You can mail me at: kasper (at) appleinsider.com.
Best,
K
Look forward to seeing a picture. Hey Kasper, so you are like a 'Linden' then ... Honored to meet you sir
according to tuaw, its likely this building
add in some photoshop, and you have:
according to tuaw, its likely this building
add in some photoshop, and you have:
And at $300.00 per square foot ?
Maybe some less expensive sites, in areas where Mac's can't be purchased / seen with great ease, would make more sense!
I mean, hell a store in Portland, Maine (Maine has some of the highest number of Mac's per person in the country) - would cost maybe $45.00 per square foot ? maybe Mac's could come down in price if they start doing business like any other business person / company, and looking at the bottom line, instead of the glory of the location.
Yes New York city has more people then the whole state on Maine, but the point is - let's do this for less, and save or pass on the savings.
Heck you know and I know, there ARE places all across America where Apple could set up shop, and do very well, for a whole hell of a lot less money!
And beside that, not everyone lives in, or visit's NY, or many of the other locations they are setting up shop.
Hell if they insist on being in these high rent districts, they should surely see the benefits of locating in some others areas for much less money.
Hell how about Conway, NH - Settlers Green Mall is a zoo many times throughout the year as folks are there shopping, skiing, vacationing ? SPENDING money. Conway is just 30 minutes from Lake Winnipesaukee - which has hundreds of VERY rich folks (many of the homes here START at 2 MILLION dollars: (and some cost $35 MILLION to build
- http://www.ideatoreality.com/residen...tial-appe4.htm
- http://www.winnipesaukee.com/photopo...eCamp18AsW.jpg
- http://www.winnipesaukee.com/forums/...ead.php?t=2355
There are several area's like this, that work VERY well, for ALL the other MAJOR retailers.
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