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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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- ◦Development
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