By Samantha Stamler, CNN

New York (CNN) -- Apple Inc. has submitted plans to New York's Metropolitan Transportation Authority Board to open a new store in Grand Central Terminal, potentially bringing in $5 million in revenue for the MTA, officials said.

"Our four stores in Manhattan are incredibly popular with customers and we are excited to bring the Apple retail experience to this incredible location," said Apple spokesman Nick Leahy.

The submitted proposal would allow the use of more than 23,000 square feet, and the takeover of both the north and northeast balconies, making it Apple's largest store worldwide.

Apple's current flagship store in New York City is inside a large glass cube on Fifth Avenue.

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