Purported Revenue for Apple’s Fifth Avenue Store: $440M

New York Post realty columnist Steve Cuozzo, regarding Fifth Avenue retail space:

The real mind-boggler, though, is Apple.

Before the GM Building was sold to a Boston Properties partnership last year, a prospectus shown to possible purchasers revealed the Apple store under the famous glass cube was doing an incredible $440 million a year. By comparison, sources said, Apple’s outpost at Prince and Greene streets does $100 million. (The uptown Apple is larger, but not by much — it has an estimated 10,000 square feet of selling space compared with 8,500 feet in SoHo.)

As a quick point of reference, Palm had $1.3 billion in revenue for 2008. So Palm’s entire worldwide revenue was just three times more than the revenue Apple booked from this one 10,000 square foot store.

★ Wednesday, 3 June 2009