Image capture Sep 2024 @Google

J. sent this over: Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, announced that it has purchased 529 Broadway, at the corner of Spring, for an IKEA store and offices. The Real Deal reports that they spent $213 million on the building.

From the company’s press release:

“Ingka Investments will operate the entire building, comprising of five and half floors plus a lower level, totaling 53,000 square ft. Built in 2016, it is one of very few newly constructed properties in SoHo, designed to complement its historic surroundings while offering modern retail and office spaces. The IKEA store will occupy the first and second floors, with the lower level used for storage and other back-office facilities, covering approximately 25,000 sq ft. The upper four floors will be renovated for premium office use.”

Very exciting!