Apple is reportedly planning to open its largest-ever retail store in New York's Grand Central Terminal.

Citing "a source close to the company," Cult of Mac today said it confirmed Apple will make an internal announcement in the next month or so about the new retail location. Apple is said to have chosen Grand Central to celebrate the 10th anniversary of its first store opening.

The store, which will open in the fall, will reportedly be the largest Apple store in the world when completed. Currently the company's largest retail store is the Regent Street store in London at about 25,000 square feet, according to ifoAppleStore.com.

Grand Central is host to 68 shops--including Kenneth Cole, Banana Republic, and Swatch--and has 35 places to eat.

Apple currently has four retail locations in New York City: Fifth Avenue, SoHo, Upper West Side, and West 14th Street. The company has over 300 stores worldwide.