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Bronx’s historic post office building, set for transformation, gets new owners

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The building is in contract for more than $70 million

Nathan Kensinger

Last October, it was revealed that developer Youngwoo and Associates were selling the landmarked Bronx General Post Office building, just three years after purchasing it from the United States Postal Service for $19 million in 2014. The building is in the process of being redesigned to offer retail, restaurants, office space, and a community hub. Per the New York Post, the five-story building is now in contract to sell to MHP Real Estate Services and Banyan Street Capital for more than $70 million.

Construction on the building, located at 558 Grand Concourse, is still underway but expected to wrap up before closing in the first quarter. The Post notes that this is the first purchase in the Bronx for both MHP and Banyan Street Capital.

So far, it’s been revealed that the owners of La Marina are occupying the top floor of the building with a new restaurant called Zona de Cuba, that will feature a rooftop bar. The block-long building will also offer 40 valet parking spaces.