IKEA in Brooklyn? Pass THe Sweedish Meatballs!
By Luke Constantino, Residential/Commercial Real Estate Brooklyn NY
(Brooklyn/Manhattan Real Estate)
IKEA is about to realize its dream of building its first store in New York City next to the loading docks of Red Hook, Brooklyn. Last week, the Swedish furniture manufacturer and its brokers announced that IKEA has purchased a 48-acre Brooklyn waterfront site from U.S. Dredging Corp. for $31.25 million. The retail giant plans to build a 346,000 s/f store and 1,400 parking spaces on the land, in addition to creating a waterfront esplanade and providing ferry service to and from Manhattan. "IKEA Red Hook is poised to become one of the most important economic development projects in Brooklyn in decades, and we can't wait to invest in the borough, its residents and its future," proclaims the promo on the company's official Red Hook website. But while IKEA executives must be overjoyed to f...
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