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Ingka, owner of the majority of IKEA stores worldwide, has just invested in a massive retail tower at 570 Fifth Avenue by 47th Street in midtown Manhattan alongside city developer Extell, announcing that part of the mixed-use building will be used to debut a new IKEA "meeting point" shop, a destination for customers "making larger and more complex purchases," according to Pix11.
The 1-million-square-foot property will be open for commercial tenants sometime in 2028.
According to a press release, the iconic Swedish brand will take over 80,000 square feet of space over two large cellar levels, with a corner entrance on Fifth Avenue.
“This next phase of our investment and expansion in the U.S. signals our commitment to bring IKEA closer to people in city centers,” said Javier Quiñones, the CEO and Chief Sustainability Officer of IKEA, in a statement. “While we are in the very early stages of planning for the IKEA location, we can promise to deliver an experience that is full of inspiration and designed to meet the home furnishing dreams of the many New Yorkers.”
At the moment, there only two IKEA stores in the New York area: one at 1 Beard Street in Brooklyn, right by Red Hook Park, and the other on Long Island, in Hicksville.
Back in 2022, the first and only-ever brand shop in Queens shuttered less than two years after first opening—making this upcoming debut by the Diamond District in Manhattan an even more exciting piece of news.
Although not a traditional type of IKEA concept, we're sure New Yorkers will be taking advantage of the new location when trying to furnish or revamp their apartments.