The future of a historic building in the Bronx is up in the air after developers pulled out of a deal that would have remodeled the inside with restaurants and shops.

The landmark building along the Grand Concourse was all set for a 21st century makeover - until the deal to revamp it fell through. The property was purchased in 2014 for about $19 million.

Marlene Cintron with the Bronx Overall Economic Development Corporation says though the inside of the building is uncertain, the opportunities to fill the space are endless.

MORE: Grand Concourse post office to be transformed into shopping, dining space 

"There is a lot of space, there is a lot of flexibility in this building," says Cintron.

Currently, a small portion of the building's first floor is occupied by a post office, which wouldn't change with any renovations.

Bronx residents had varying ideas for what should go there, from a youth center to a supermarket. Cintron says the property could be a good spot for a local business.

"There are a lot of dreamers, a lot of amazing developers out there and I have no doubt that someone will see it, fall in love with it, like we already have as Bronxites and just give it a brand new life," says Cintron.