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New York & Tri-State  + Uptown/Bronx  + Retail  | 

Bronx Post Office Revamp Changing Hands

Bronx Post Place, the redevelopment of the historic post office at 558 Grand Concourse, is reportedly trading to a partnership of MHP Real Estate Services and Miami-based Banyan Street Capital. The project is reportedly under contract for north of $75 million.

Youngwoo & Associates and the Bristol Group acquired the 191,701-square-foot, circa-1935 property from the U.S. Postal Service in 2014, with plans to redevelop it for office, dining and retail use. The five-story building is in a Qualified Opportunity Zone.

The New York Post first reported the deal, which was marketed by CBRE. Sources said construction should be completed prior to the sale’s closing, which is slated for the first quarter.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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