A piece of USPS history built in 1937 has new owners once again.
The former post office located in the Bronx, New York – just north of midtown Manhattan – hasn’t operated as a post office since 2012.
The former USPS location in the Bronx, New York hasn’t operated as a post office since 2012Credit: Google Maps
Since USPS closed the location, the historic property has changed hands several times (stock image)Credit: AFP
The building’s exterior was landmarked in 1975 and a portion of the building’s interior was landmarked in 2013.
Since the post office ceased business at that location, the property has changed hands several times.
Now, a community college has bought the historic location to the tune of $201million.
The City University of New York acquired the property to be used for educational purposes.
USPS sold the historic property in 2014 for $19million. The investors put $60million into the building to redevelop it into a food hall, retail, and office space.
Those investors put it back on the market for $75million in 2024, and a year later it was acquired by another developer for $44million.
CUNY stepped into the picture when it struck a deal to lease space last year. The educational institution signed a 35-year lease to use as a community college outpost – specializing in nursing, radiology, dental hygiene, and other programs.
According to Bisnow, when CUNY agreed to pay about $550million in rent over the length of the lease. The deal also had a provision allowing CUNY to buy the property within the first five years of the lease.
The publication reports that CUNY acquired the entire four-story building, except for a portion of the basement and ground floors – which was split into a separate commercial condominium unit.
With the acquisition of the former post office space, the community college hopes to double the number of graduates from last year’s 2,500 science, technology, engineering, mathematics, and health degree recipients.
