Redevelopment play in the South Bronx
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.