The sweet deal Apple wrangled out of the MTA in order to open a megastore in Grand Central Terminal will be probed by a powerful state Assembly panel.
The Committee on Corporations, Authorities and Commissions — which oversees the MTA — has begun compiling documents on the controversial store, which opens tomorrow, Assemblywoman Linda Rosenthal said.
“It is important for us to determine if the MTA got the best possible deal from Apple, and that it negotiated the best possible deal for the MTA ridership,” Rosenthal said about the rental agreement. “Those are fiscal funds.”
It’s the second probe since The Post reported on the 10-year leasing deal, expected to net Apple $100 million in sales a year.
As The Post exclusively reported, Apple did not enter into a revenue-sharing agreement with the MTA, and is the only retailer among the 100 or so in Grand Central to have wiggled out of that provision.
And the $60-a-square-foot rent that Apple negotiated is well below that of several of its neighbors, including Michael Jordan’s Steakhouse, on an opposite balcony from the new store.
Following that report on Nov. 30, State Comptroller Thomas DiNapoli immediately launched an investigation into the deal.
The MTA insists everything is aboveboard.
“This is the best possible deal for the MTA, quadrupling the rent we receive and bringing foot traffic to Grand Central Terminal that will increase revenue for all of our retailers,” an MTA spokesman said.
MTA brass said finding a tenant was difficult because the site is landmarked.
Apple also agreed to pay $5 million to the previous tenant, Metrazur restaurant, to leave the space eight years early, as well as another $2.5 million for renovations.
Documents show that the MTA actually paid the $5 million to Metrazur, but agency officials yesterday said they received the funds from Apple.
Reactions to the shop’s arrival were mixed.
“If Jackie Onassis were alive right now, she’d be disgusted,” said Ben Asem, referring to Onassis’ saving the terminal from near destruction decades ago.