"Nike opened its sprawling SoHo store in 2016, taking over 55,000 square feet of space in the building. According to Women's Wear Daily, a leading fashion industry publication, the building was constructed in 1853 and originally housed the Prescott House Hotel. amNewYork previously reported that while IKEA will open a store in the building, it will not be as massive as Nike's former retail space."
"Ingka Group, which owns many of the big-box retailer's stores, said the 529 Broadway location will occupy the first and second floors, with the lower level used for storage and other back-office facilities, covering approximately 25,000 square feet. Through property ownership, we can secure IKEA presence at the most important retail hubs while keeping affordability at the core, Peter van der Poeel, managing directo of Ingka Investments, said in an October press release."
Nike shuttered its decade-old flagship store at 529 Broadway in SoHo on Jan. 10, ending a 10-year run that began in 2016. The SoHo location originally occupied about 55,000 square feet within a building constructed in 1853 that formerly housed the Prescott House Hotel. Ingka Group purchased the building for $213 million and plans a smaller IKEA occupying the first and second floors with the lower level used for storage and back-office facilities, covering about 25,000 square feet. The upper four floors will be renovated into premium office space. Nike's New York City store count is now nine. The IKEA opening date is unclear.
Read at www.amny.com
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