IKEA Attempts to Open in Manhattan for the Third Time

Ikea, the furniture retailer giant, is set to open a Manhattan location in 2028 after two failed attempts in the last twenty years. An Ikea in the heart of the city seems oxymoronic given the brand is known for its warehouse sized stores filled with hundreds of staged rooms, but the company is showing renewed determination to tap into the urban market.

“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,” said Javier Quiñones, CEO of IKEA U.S., in a press release from Ingka Group, Ikea’s largest retailer.

Ingka Group represents around 90 percent of Ikea retail sales. They are partnering with Extell Development Company to establish 570 Fifth Ave., the mixed-use commercial building on West 46th St. where Ikea will occupy 80,000 square ft. Ingka Investments will hold a one-third stake in the project while Extell will hold the remaining two-thirds.

The announcement comes very early in the rebuild process as Ikea doesn’t plan to open until about four years from now in 2028. Currently, the greater New York metro area is home to three stores: the 350,000-square-foot location in Red Hook, Brooklyn, and the 227,000-square-foot location in Nassau County Long Island and another big box store in Paramus, NJ.

The future Manhattan store will be a fraction of the size, posing questions about its efficacy as this is Ikea’s third attempt at a smaller-scale store in the city. The 1995 effort was a 7,400-square-foot showroom on East 57th St. that shut down quickly due to lack of stock. Though the 2019 attempt at 999 Third Ave. was larger at 17,000 square feet, it shut down in just three years most likely due to the pandemic.

It’s safe to say Ikea has tried and failed to capitalize on an urban market, despite the fact that one may exist.

“I would go to the new Ikea,” said Elise, a Manhattan resident sitting in Bryant Park just blocks from Ikea’s future location.

“I don’t have a car right now, so it’s very difficult for me to go to the suburbs where the larger stores are. This new one seems very convenient.”

Adora, a young native New Yorker from Queens, agreed that convenience constitutes most of the new Ikea’s allure.

“If it’s incorporated well into the city I think it could be great for people for furniture purposes because it would be so easy,” she said.

“Delivery, if they could make that work, would be great. I don’t see a problem with it. Especially if it's accessible via transit. I’m into it.”

Her friend added that delivery options would be essential to “help people actually get their products home,” particularly considering many New Yorkers rely on public transit to compensate for not owning a car.

Hopefully the third attempt at a Manhattan hub can avoid construction delays and open at least by 2028.