Massive Bronx Post Office building back on market

The Bronx General Post Office is back on the market, five years after a deal to sell the stately structure fell through.

Youngwoo & Associates is again seeking a buyer for the landmarked building at 558 Grand Concourse, which fills the whole block between 149th and 150th streets in Concourse Village.

MHP Real Estate Services and Banyan Street Capital walked away from a $70 million deal to buy the 173,000-square-foot building in 2019.

The developer is hoping to fetch a mid $70 million price, said Avison Young broker James Nelson, who is handling the sale. The building is zoned for commercial and residential use, so redevelopment options include a medical building, school, hotel or apartments.

“There’s a real trend where end users are buying their buildings and I think this is an excellent candidate for that,” Nelson said.

Current tenants include a rooftop Cuban restaurant and a U.S. Postal Service operation that occupies 8,000 square feet. The four-story building also has underground parking for 39 cars and the potential to accommodate up to 176, according to the listing.

Youngwoo purchased the building from the postal service for $19 million 2014 and announced plans for a retail and office hub. He started renovations but never completed them. Studio V remains the architect of record.

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

Bryan Woo of Youngwoo & Associates referred questions to Nelson.

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