The Bronx General Post Office has finally sold for $44 million.

It comes after a deal to sell the property fell through about five years ago.

Maddd Equities bought 558 Grand Concourse, the building the spans an entire city block.

The real estate developer has built more than 5,000 affordable housing units across the city, according to its website.

Maddd Equities has not released what it plans to do with the building.

Jorge Madruga, the CEO of Maddd Equities, released the following statement:

“The Bronx General Post Office is a true gem of the South Bronx and fits perfectly with our company’s longstanding commitment to restore and revitalize significant, historic buildings and bring them to life for the benefit of the community."

The Bronx General Post Office was built in 1935 and has since been marked a historic landmark, so the outside has to remain untouched.

The murals inside the building are interior landmarks, so they also need to be preserved-making it difficult for buyers to transform the building.

News 12 spoke with Julio Pabón, the co-founder of the South Bronx Community Association.

Pabón says he used to work in the post office as a teenager during the holiday rush.

He says the community would be better with something that builds up the area.

"To try to get good, wholesome food here. This is a food desert. If you turn around, you see, all you see is Burger King, Popeye's and also all these little businesses that are surviving out of their apartments could have easily rented a stall here and helped us. And we helped them," said Pabón.

The hope is that the entirety of the building is finally put to use to benefit people who live in the area and preserve the history the post office brings.