Photo courtesy of Ingka Investments

Soho is getting an IKEA. The Scandinavian furniture retailer purchased a six-story commercial building at 529 Broadway from billionaire Jeff Sutton’s firm, Wharton Properties, for $213 million, according to property records . Ingka Group, which owns most IKEA stores worldwide, plans to open a 25,000-square-foot store on the building’s first and second floors, as The Real Deal first reported, continuing its push for smaller-format locations .

“This marks Ingka Investments’ fourth acquisition of prime commercial real estate to support IKEA’s growth in the world’s leading cities,” Peter van der Poel, managing director of Ingka Investments, said in a press release .

“Through property ownership, we can secure IKEA presence at the most important ret

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