Apple Signs 20 Year Net Lease in Manhattan

iPodNN - December 19, 2005

Apple has found yet another retail store location in Manhattan, after it was unable to obtain approval for a location in Flatiron district earlier this year. Apple has reportedly "net-leased the entire, 30,000-foot five-story building from Jeff Sutton of Wharton Realty and his partner, SL Green Realty Trust," according to a report in the New York Post.

The upcoming retail location on West 34th street will be the third retail location in the lucrative Manhattan market, as the company finalized a second location earlier this year. Apple next spring will open a second 20,000-square-foot retail store in the underground concourse of the General Motors building near Midtown. That lease was finally signed after Jobs negotiated to keep the giant $9 million 32-foot hollow glass cube that he designed, following the expiration of the 20-year store lease. Sphere: Related Content