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IKEA’s Manhattan expansion includes SoHo and Midtown sites
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amNewYork
The former Nike outlet at 529 Broadway in SoHo, where IKEA plans to open its second Manhattan store.
Ingka Investments purchased the building for $213 million.
The upper floors will be converted into offices, with Ingka Investments operating the entire 53,000-square-foot property, according to the group.
“This marks Ingka Investments’ fourth acquisition of prime commercial real estate to support IKEA’s growth in the world’s leading cities,” said Peter van der Poel, managing director of Ingka Investments, in a statement.
Brooklyn remains the only borough with an operational IKEA store, offering a free weekend ferry from Manhattan to Red Hook.