An IKEA may come to Lower Manhattan.
The Scandinavian furniture giant seems to have bought 529 Broadway in Soho for $ 219 million, according to real estate records. The seller was a joint group with Wharton Properties, the company of billionaire Jeff Sutton.
The building is a commercial building of 58,000 square feet, six floors on the corner of Broadway and Spring Street, according to BKSK, the architect of the building. The space is currently occupied by Nike.
The Sutton company bought the building for $ 146.9 million in 2013, according to real estate records.
Neither Sutton nor the American press office of Ikea immediately responded to requests for comments.
It is unclear whether IKEA is planning to open a new store location or whether the furniture company has various designs for the building. The property is considerably smaller than the company’s already operational stores. The Red Hook location, built in 2007, is more than 336,000 square feet. That location is zoned for Big-Box Retail, while the Broadway location has been zoned for more traditional retail, according to City Property Records.
But it would also not be Ikea’s first attempt to fit in a tight space.
In 2019, the company opened a “Planning Studio” on 999 Third Avenue, in a room of 17,000 square foot, Deducted reported. But that only lasted three years. A store of 115,000 square feet in Rego Park, Queens, was Likewise of short duration.
Ingka Group, which owns the most IKEA stores worldwide, unveiled an IKEA “customer meeting” last year that would convey 80,000 square feet over two basement levels of 570 Fifth Avenue, between West 46th and 47th Streets. But the tower, developed by Extell Development Company, is not planned to open until 2026.
The most important North -American office of the company is located in conshuhocken, Pennsylvania. The company, although founded in Sweden, now has its global headquarters in the Netherlands.
IKEA holds a “housewarming” party elsewhere in Lower Manhattan on Tuesday evening and promises interactive experiences and meatballs.
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