Apple is planning a new retail store inside Grand Central Station in New York. The company paid the current tennants of the spot $5 million to leave their slot early and will pay $1.1 million a month in rent, the Wall Street Journal reports.

Now the Metropolitan Transit Authority has released some renderings that show us what the new Apple Store in Grand Central will look like.

OB OW314 0725ny G 20110725130301 520x346 Heres what Apples gorgeous new store in Grand Central will look like

The planned store will take the place of the Metrazur restaurant inside the station as well as an adjacent balcony. Construction will begin immediately and take a bout 4 months, the MTA said.

Metro-North Railroad President Howard Permut said that the addition of the store would maintain Grand Central as “the iconic structure and place that it is.”

In addition to the new Apple Store, Grand Central will also be gaining a branch of the popular east coast burger franchise Shake Shack. MTA Real Estate Director Jeffrey Rosen, who announced the coming o the stores said ““I can’t imagine why any kid in Westchester would want to do anything other than go into Grand Central and shop at Apple and eat at Shake Shack.”

They couldn’t resist taking swipes at cross-town Penn Station either, as board member Mitchell Pally said “It makes the Penn Station customers no longer second-class citizens, It makes them third-class citizens.”OB OW317 0725ny D 20110725130540 220x146 Heres what Apples gorgeous new store in Grand Central will look like

The new store actually looks really great and should be a nice addition to Grand Central, although its unlikely to make the already hectic station any less crowded.