Ikea buys Soho building from Jeff Sutton for $213M
Ikea may be coming to Lower Manhattan as the Scandinavian furniture giant purchases 529 Broadway in Soho for $213 million from Wharton Properties and billionaire Jeff Sutton's firm.
Ikea, known for its affordable and trendy furniture, has its sights set on Lower Manhattan as the company purchases 529 Broadway in Soho for $213 million. The property records show that the seller was a joint group that included Wharton Properties, Jeff Sutton's firm.
The building, a six-story commercial property at the corner of Broadway and Spring Street, spans 58,000 square feet and was designed by BKSK. Currently, the space is occupied by Nike.
In 2013, Sutton's firm purchased the building for $146.9 million, according to property records. Requests for comment from both Sutton and Ikea's U.S. press office have gone unanswered, leaving the plans for the space unclear.
Originally reported by The Real Deal: https://therealdeal.com/new-york/2025/09/30/ikea-buys-soho-real-estate-from-jeff-sutton-for-213m/