Art Deco post office in the Bronx hits market for $75M

A developer has decided to say farewell to a landmarked post office that has been the focus of dreams about the turnaround of the South Bronx.

Chelsea-based Youngwoo & Associates, which helped transform a dilapidated Manhattan cargo warehouse into the food hall complex Pier 57, has listed 558 Grand Concourse for about $75 million.

In 2014 Youngwoo paid $19 million for the 4-story, 175,000-square-foot government property, public records show. Afterward it invested $40 million to renovate the upper floors of the full-block, Art Deco site, which besides housing a small postal facility is also home to Zona de Cuba, a five-year-old Cuban restaurant.

"While development plans are to be unveiled at a future date, [Youngwoo] intends to build upon the property's legacy as a trophy of the...