Apple pulls plug on plans for store near Empire State Building
Apple has canceled plans to open an triple-decker retail store near the Empire State Building in New York City at the request of chief executive Steve Jobs, the New York Post is reporting.
The Cupertino-based company signed a 15 year lease for 21-25 West 34th Street between Fifth and Sixth avenues back in 2006 for nearly $6 million in annualized rent.
Previous reports indicated that Apple would build a two- or three-story retail store in 18,000 square foot space, which sits diagonally across from the Empire State Building.
Renderings published last October showcased a potential design for what would have been Manhattan's fourth flagship Apple shop -- a three-story outlet with glass and steel facade, marked with a large white Apple logo.
However, the New York Post now claims that Apple is looking to sublease the space, which has sat vacant for the past two years, beginning in April.
The paper cited an unnamed source as saying that Jobs looked at a run-down building across the street and said, "This is not for Apple."
The claims are similar to those published last year by the Forbes/Slatin Real Estate Report, which noted that Mac maker was having second thoughts about the location's "coolness" and was considering putting the site up for sublease.
Ismael Leyva's proposed design for an Apple retail store at W. 34th Street.
"Apple had doubts about the compatibility of its leading-edge image with that of middle-America 34th St., at least as it currently stands," the report said. It noted that while retailers like Gap, American Eagle Outfitters and Forever 21 are happily situated along the row, "unfortunately, a lot of the old 34th Street -- third-rate tourist merchants and rip-off artists -- still remain."
Apple declined to comment on the latest report, saying it has made "no announcement about that location."
The Cupertino-based company signed a 15 year lease for 21-25 West 34th Street between Fifth and Sixth avenues back in 2006 for nearly $6 million in annualized rent.
Previous reports indicated that Apple would build a two- or three-story retail store in 18,000 square foot space, which sits diagonally across from the Empire State Building.
Renderings published last October showcased a potential design for what would have been Manhattan's fourth flagship Apple shop -- a three-story outlet with glass and steel facade, marked with a large white Apple logo.
However, the New York Post now claims that Apple is looking to sublease the space, which has sat vacant for the past two years, beginning in April.
The paper cited an unnamed source as saying that Jobs looked at a run-down building across the street and said, "This is not for Apple."
The claims are similar to those published last year by the Forbes/Slatin Real Estate Report, which noted that Mac maker was having second thoughts about the location's "coolness" and was considering putting the site up for sublease.
Ismael Leyva's proposed design for an Apple retail store at W. 34th Street.
"Apple had doubts about the compatibility of its leading-edge image with that of middle-America 34th St., at least as it currently stands," the report said. It noted that while retailers like Gap, American Eagle Outfitters and Forever 21 are happily situated along the row, "unfortunately, a lot of the old 34th Street -- third-rate tourist merchants and rip-off artists -- still remain."
Apple declined to comment on the latest report, saying it has made "no announcement about that location."
Comments
Probably a safe bet to keep the store-openings to a minimum at the moment. Besides, it looks like an ugly facade anyways.
Good riddance...looked like the back of an air conditioner.
If you think that's ugly- Meatpacking looks like a fluorescent garage.
If you think that's ugly- Meatpacking looks like a fluorescent garage.
I thought Meatpacking looked cool in the photos. Seems like they really needed it to be BIG. I haven't been to that one in person though.
Six million a year in rent and they let it sit empty for two years? Are the shareholders OK with that kind of waste? Are consumers wondering how much of the cost of their iMac or Macbook Pro is attributable to wasteful spending like that?
It's not ideal, but the amount of money they make that's a drop in the bucket.
I'm getting a new apple store in Miami though at Dadeland mall, opens saturday! So now the greater Miami area will have 4 stores! We are on the Apple map
ahhh....anyway
If Apple wants a high profile, cutting edge location, when are they going to open a store in Times Square? They've advertised fairly often with billboards there in the past. Can't get much higher profile than the "Crossroads of the World." They can even sponsor the New Year's Eve ball drop and have it changed to a modernized version of the apple design used in the 1980s.
Times Square is such a super tourist spot they would probably have more stolen goods than sold
If Apple wants a high profile, cutting edge location, when are they going to open a store in Times Square? They've advertised fairly often with billboards there in the past. Can't get much higher profile than the "Crossroads of the World." They can even sponsor the New Year's Eve ball drop and have it changed to a modernized version of the apple design used in the 1980s.
TSQ is a little wacky.
For the last ~6-ish years, it's becoming even more like a Las Vegas strip than it's been for awhile. I've been through many^many times and lately, it's an absolutely dizzying place.
For better or worse, the Meatpacking district or Soho are more of a fit for the brand.
@teckstud: -yeah the UWS would be most logical based on where they are already.
It's not ideal, but the amount of money they make that's a drop in the bucket:
I realize that, but it's the idea that bugs me. If they are that cavalier about 12 million dollars lost, what ELSE are they wasting money on?
Yes, the profits are good, and they have a large cash surplus, but I just can't help wondering if they might have the same profits and surpluses with lower prices (especially on the mobiles) if they were more frugal with this kind of spending.
I realize that, but it's the idea that bugs me. If they are that cavalier about 12 million dollars lost, what ELSE are they wasting money on?
Yes, the profits are good, and they have a large cash surplus, but I just can't help wondering if they might have the same profits and surpluses with lower prices (especially on the mobiles) if they were more frugal with this kind of spending.
There is wasteful spending and financial business mistakes made all the time. If the most we can find on Apple is $100k to support No on Prop 8 and $12M on an unused building that was leased prior to an economic collapse, I think Apple is doing well.
they already have three, retailers that aggressively expand their retail operations suffer an early demise.
retailers that aggressively expand their retail operations suffer an early demise.
I wouldn't say that. I'd say that retailers that unintelligently expand their retail operations, aggressively or otherwise, suffer from poor sales sq ft. Gateway suffered this fate by not having product in store and by buying in cheap areas with poor foot traffic.
We know that Apple stores started out getting more revenue per sq ft than any other retailer. Despite their growth they have increased that lead. It seems that NYC Apple Stores are very busy, perhaps enough to warrant another one without lessening the average revenue per store, at least before the economic situation took hold.
I look forward to sales results after the holiday quarter.
There is wasteful spending and financial business mistakes made all the time. If the most we can find on Apple is $100k to support No on Prop 8 and $12M on an unused building that was leased prior to an economic collapse, I think Apple is doing well.
Except that Apple's support of the No stance against prop 8 is not a negative. I thought we'd (you'd) laid that one to rest
For Apple being such a liberal company, why are they building so many stores where there's good public transportation? How about building stores so people drive less? Where's Al Gore speaking up about this??????