The Real Deal New York

Youngwoo picks up landmarked Bronx post office

Activists and lawmakers opposed sale of historic property; retail complex planned for site
September 04, 2014 09:00AM

It’s official: The Bronx General Post Office is off the market. Developer Youngwoo & Associates is buying the property.

The landmarked 175,000-square-foot building — located at 558 Grand Concourse at East 149th Street — has been on the market since January. The developer expressed interest in the site in February, saying it would turn the building into a retail complex with a marketplace.

It’s unclear how much the Manhattan-based developer paid for the building, but the property’s value has been estimated at $14 million, the New York Daily News reported.

The four-story building was built in 1935 and became a landmark in 1976, according to the Daily News. Residents, activists and lawmakers tried to prevent the sale. Inside the building, the lobby contains 13 original Depression-era murals.

According to the newspaper, the U.S. Postal Service will keep a retail presence at the site and will be responsible for the preservation of the murals. [NYDN] — Claire Moses