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MHP Real Estate Services buys 558 Grand Concourse

Redevelopment play in the South Bronx

Old post office at 558 Grand Concourse in the Bronx (Evan Bindelglass)

MHP Real Estate Services and Banyan Street Capital have signed a contract to acquire 558 Grand Concourse from Yungwoo & Associates + Bristol Group for over $70 million, according to the NYPost. The nearly transformed South Bronx building is located between 149th and 150th Streets.  

What comes next: The sellers converted the old post office into a mixed-use property, which consists of retail space (70,507 square feet), and an office component (104,809 square feet). A small post office will be located on the ground and main floors.

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