Former York Post Office back on the market for $1.79MRSDC seeks buyer to redevelop historic building
One of York City's most notable historic buildings is back on the market - for a limited time.
ROCK Commercial Real Estate LLC listed the former Post Office on 200 S. George St. for $1,795,000 this past week.
After six months of negotiation, York development firm Royal Square Development & Construction (RSDC) entered into an equitable ownership agreement for the property with its current owner, Hashempour & Sons LLC.
Under the agreement, RSDC takes an ownership stake in the building through Aug. 31 while it looks for a potential buyer with intentions of redeveloping the South George Street property, said Dylan Bauer, RSDC's president of development. Bauer declined to discuss other details of the deal.
"It is not our goal to acquire the building. We want to make it available for someone else’s vision," he said.
Currently, the building is being used as storage for Washington, D.C.-based furniture store Persiano Gallery, as well as a local roofing company, Bauer said.
But RSDC hopes to find a new tenant that will be interested in redeveloping the one-of-a-kind building for a more impactful use on the community, Benjamin M. Chiaro, brokerage advisor for ROCK, said.
Built in 1911, the 57,428 square-foot, two-story historic building features marble floors and large columns. Chiaro also noted that there is space for between 50 and 100 parking spaces behind the building depending on how the lines are drawn. When the building was a Post Office, the lot was mostly used for larger trucks.
"This grandiose and stately building anchors the southern gateway to York’s central business district," he said. "It would be ideal for an entertainment, hospitality or event space, brewery or pub ... or something for the public."
The Post Office relocated to 160 W. Market St. in 2013. York businessman Themi Sacarellos bought the vacated property, under the company Molt LLC, from the Postal Service for $350,000. After performing some renovations, Sacarellos sold the building for $795,000 in 2015 to Hashempour.
According to assessor’s records, the building has been assessed at $699,600.
Chiaro noted that history center officials paid $1.75 million to purchase the York County History Center and expect to spend $12 million in renovations. In addition to the South George Street property’s geographic location as well as interior and exterior conditions, the value is there, he said.
This is not the first time York City has tried to find a new use for the historic building. In fact, several years ago Downtown Inc held a masquerade ball there, said Silas Chamberlin, CEO of the downtown improvement organization for York.
"In my mind, I think a corporate office would make the most sense," he said, adding that he could envision potential spin-off developments taking place as a result. "It would receive the highest and best use on a daily basis while adding employees and feet to the downtown."