The Real Estate

Apple Is Building on 34th, But Will It Set Up Shop?

Another Manhattan cousin for Fifth<br />Avenue Apple store?
forbescreative via flickr.
Another Manhattan cousin for Fifth
Avenue Apple store?

Apple has applied for a building permit at 21 West 34th Street, listing plans for a two-story 19,000-square-foot retail structure on the site, owned by SL Green.

So will this be the next iStore?

Maybe, maybe not.

The retailer signed a lease with SL Green over a year ago, though in a conference call with investors last year, SL Green executive Andrew Mathias said that Apple is mandated to build something there by the lease, but it may sublease its space.

“We have had some conversations with Apple and they're exploring their alternatives,” Mr. Mathias said, according to a transcript. “They have not made a formal decision yet either to go ahead and build their building or to sublease the space. They do have an obligation under the lease to build a brand-new building there.

When asked about the site and why a building permit application listed Apple as the developer, an Apple spokeswoman said that the company has not made any announcements at that location.

An SL Green spokesman, Rick Matthews, did not comment on Apple’s plans beyond the construction, but said SL Green is currently demolishing the site and developing two retail shops adjacent to the Apple parcel.

“Apple will build a store—SL Green will then build and develop the rest of the combined parcel,” Mr. Matthews said.

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Comments
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Constable Odo (not verified) says:

It's been said that Manhattan can easily support the number of stores that Apple already has. That is, keep them filled with customers. Still, I wonder how many stores Apple really needs here. A slight downturn in the economy and you'll have a bunch of stores devoid of customers, but dozens of concierges or geniuses. Seems like an awful lot of overhead. All fine and dandy if people continue to buy Macs and record rates. I sure hope this is the case. Maybe they should put up a store in one of the outer boroughs such as Brooklyn or Queens.

Anonymous (not verified) says:

This would be the 4th planned Apple Store. 5th Avenue, Soho, Meatpacking, UWS and 34th Street. Will be interesting to see what they build on 67th and Broadway where the Victoria's Secret is currently located.

Yurtdisi Egitim (not verified) says:

does anyone knows if there is any other information about this subject in other languages?

Anonymous (not verified) says:

Hate to sound like a spoiler to you Mac Heads out there, however the site has a for lease sign along the scaffolding. Too bad, Apple would make a killing in that location.

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