Furniture giant Raymour & Flanigan has spent $5.5 million on a major Ithaca real estate purchase, according to The Ithaca Voice. The deal adds another high-profile commercial property transaction to the city’s growing development scene.
Details about the company’s plans for the site have not yet been fully outlined, but the purchase signals continued investment in Ithaca’s retail and commercial market. Raymour & Flanigan operates dozens of furniture stores across the Northeast and has steadily expanded its footprint in New York.
The acquisition comes as Ithaca continues to see large-scale housing, retail, and mixed-use development projects reshape key corridors across the city and surrounding towns.
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