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Apple works Fifth Avenue, in New York, should finish this semester

We are back with more news related to Apple stores around the world. It is one of the possibly most iconic related news. Let's go to the news!

End of works on Apple Fifth Avenue

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Victor Elihimas

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Victor Elihimas

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Works on Apple Fifth Avenue in December 2018 | Photos: Victor Elihimas

In mid-2017, we commented that the renovation of the most famous store in New York (and probably the world) could be completed in October / November. That's because, at the site itself, there was a sign saying exactly that. Well, the deadline was not met for other people's reasons (after all, no work is ready on time).

Now, John Powers, CEO of Boston Properties (co-owner of the General Motors building, where the store is located), informed that the store should be ready by the end of this semester, such statement was made during the company's financial conference, as informed by the Seeking Alpha.

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Victor Elihimas

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Victor Elihimas

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Apple store in New York | Photos: Victor Elihimas

In the meantime, Apple continues with its temporary store next door. Apparently, when Ma leaves this place, Under Armor will take over the space.

As we already informed, Apple Fifth Avenue doubled in size (from 2,972 to 7,153 square meters) entitled to a supposed stadium for the Beats 1 radio. The renovation of the space started in January 2017, that is, it has been more than two years of works. ?

Apple Michigan Avenue changing ownership

Not long ago, one of the most beautiful Apple stores opened in Chicago. The location, however, is at Ma: the company signed a 15-year lease, which justifies the total investment of more than US $ 80 million to build such a beautiful structure.

To give you an idea, in 2018 the company will disburse no less than US $ 2.5 million to Walton Street Capital, owner of the space which rises 10% per year during the contract period, as informed by the Crain?s Chicago Business.

Apple Michigan Avenue

I mean, ex-owner: Walton Street Capital bought the space in August 2017 on a $ 360 million deal (which also involves a 35-story office tower next door, at N. Michigan Ave, 401); a few months later, however, she is selling the store and a small waterfront space that is currently rented to Shoreline Sightseeing, which offers boat trips on the Chicago River and Lake Michigan and the office tower remains under her command. The price? $ 79 million.

Invesco will pay $ 3,900 per square foot, which makes the deal the fifth most expensive property sale in Chicago, according to Real Capital Analytics (a New York research firm).

Imbrglio in Melbourne

As we already talked about here, Apple had plans to build a new store in Federation Square, in Melbourne (Australia) which plan found resistance and was revised. The idea was for the construction to start now in early 2019, but everything ended up being postponed for a year after two ministers who managed the agreements with Apple were removed from the project.

New Apple Federation Square project in Melbourne, AustraliaNew Apple Federation Square project in Melbourne, Australia

Now, a new attempt is being made to demolish the Yarra Building, where the new Ma store will be erected. The request was made by the administration of the square, which argued that the building to be demolished is not in accordance with the other projects. construction of the enclosure. There are, however, critics suggesting that management is doing all of this in a hurry to demolish the building before the possibility of it being recognized for its historical value is something that would prevent demolition.

The place was under temporary patrimonial protection until recently; soon, there will be a deliberation on the possible permanent protection of the region, which could disrupt Apple's plans once and for all.

Apparently, a lot will still happen until this store actually leaves the paper. Or no.

via AppleInsider; Cult of Mac: 1, 2