Maddd Sold Bronx Post Office to CUNY for $200.9M After 434 Days

Maddd Equities bought the landmark Bronx General Post Office in July 2025, held it 434 days, and sold it to the City University of New York for $200,920,880, about 4.57 times what the building last traded for.

Why it matters

The City Register record shows a deed dated September 10, 2026 and recorded September 18, conveying Bronx block 2443, lot 1002, from BPO Master Tenant LLC to The City University of New York for $200,920,880. The same block carries a deed dated July 3, 2025 for 558 Grand Concourse, from Bronx Landmark LLC to BPO Owner LLC for $44,000,000. ACRIS does not name Maddd on either document. Bisnow reports that Maddd Equities, a Bronx developer, paid about $44 million for the 175,000-square-foot building in July 2025 and that CUNY holds the purchase, so the link between the LLCs and Maddd rests on that reporting, not on the deed. The two deeds are also filed on different tax lots: the 2025 sale on the base lot 400, the 2026 sale on lot 1002, which is a condo unit within the building’s address range, so the two prices may not cover identical square footage. Press accounts describe the university’s purchase as a commercial condo in the building.

The numbers

Between the two deeds the recorded price rose by $156,920,880, from $44 million to $200.9 million, a 4.57x multiple over 434 days. The July 2025 sale was financed: a $31,000,000 mortgage from Lexington PC Concourse LLC, borrower BPO Owner LLC, was recorded the same day as the deed. Later filings on the block, recorded July 2, 2026, show further BPO Owner LLC borrowing from the same lender, including a $2,900,000 mortgage and a $2,100,000 mortgage, and a $36,000,000 agreement. An August 2026 assignment moved a Lexington PC Concourse interest to Lexington MF Concourse LLC. Bisnow separately reports that CUNY first signed a lease in September 2025 that included an option to buy during the first five years, which means the university’s price was likely set by that option rather than a fresh bidding process, an inference we could not confirm from the deed.

What’s next

Bisnow and other trade coverage report that CUNY plans to use the four-story building for allied health and natural science programs from its nearby Hostos Community College, including nursing and surgical technology. The record does not show a CUNY mortgage on the deed, and ACRIS has not yet shown whether the lender interests on the block were satisfied at closing. For developers watching the Concourse, the deal is a data point for how quickly a public buyer with a purchase option can reprice a landmark conversion, and more on the borough sits in our New York market coverage.