Business

Apple MTA deal draws new call for probe

Apple’s controversial deal with the Metropolitan Transportation Authority to open a chic new store at Grand Central Terminal is drawing fresh scrutiny.

In addition to state Comptroller Thomas DiNapoli, who told The Post he would look into Apple’s sweetheart lease, State Sen. Tony Avella also called for an investigation yesterday.

Regardless, iPads are coming to Grand Central a week from today — probe or no probe. Confirming a Post report, Apple said yesterday it will open its store inside the Big Apple’s historic commuter hub Dec. 9.

Under the 10-year deal, Apple will be the only retailer among the 100 or so in GCT who won’t be required to share with the MTA a portion of its revenues above a certain threshold.

In addition, brokers said the $60-a-square-foot lease falls well below the average rate paid for retail space at the historic transportation hub.

Williams Jackson Ewing, the property firm that manages Grand Central for the MTA, told The Post in May 2009 that sales at the terminal average $1,800 a foot, with most rents at $200 to $300 a foot — or higher, depending on size and location.

The MTA has said Apple was the only company to respond to its request for bids in May, even though sources said the MTA did a poor job of advertising the space.

“Nobody I know even saw that it was available, and I had some clients who probably would have taken a look at this space,” said Jeffrey Roseman, principal at Newmark Knight Frank.

“There is no lack of demand for prime retail space in Grand Central Terminal,” added Kim Mogull, president and CEO of Mogull Realty. “If the MTA is not receiving competing bids at fair market rents on coveted retail such as the Apple space, perhaps the current marketing process should be revisited.”