A Ginormous 80,000-Square-Foot IKEA Is Expected To Open On Fifth Avenue
After numerous IKEAs across the NYC area shuttered one after the other, there’s finally some hopeful news for the furniture and meatball-loving shoppers! Rumor has it a new Ikea is likely to takeover 570 Fifth Avenue after Ingka Investments, owner of the majority of Ikea locations worldwide, has invested in the Class A retail and office tower from Extell Development Company—the largest development on Fifth Avenue in six decades.
“Investing in Fifth Avenue goes beyond just growing our footprint; it’s about changing the way we engage with consumers and playing a part in creating strong, sustainable economies and business communities,” shared Peter van der Poel, Managing Director of Ingka Investments.
According to CSA, the new Ikea would span 80,000-square-feet. That’s 35,000-square-feet smaller than the old Queens Ikea outpost, for reference. It will cover two cellar levels with a corner entry for customers 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, CEO and chief sustainability officer, Ikea U.S. “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.”
But before you get too excited, note that 570 Fifth Avenue isn’t planning tenant delivery until 2028, so we’ve got some time before we’ll be able to shop.
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