By about November 1, Princeton’s branch of the United States Post Office (USPS) should be relocated to the rear of the former West Coast Video store at 259 Nassau Street. But the fate of its longtime home on Palmer Square has yet to be finalized, according to information provided at a public hearing during a meeting of Princeton Council on September 15.

Greg Lackey, a representative of the USPS in Washington, D.C., said that certain easements need to be granted before the sale of the building can be completed. LCOR Ventures, based in Oakland, California, is the buyer, and has indicated that a retail or restaurant operation would be likely to take over the building. “The buyer can’t purchase until the title issues are resolved,” he said. “At this point, the buyer is not obligated to buy it. We could possibly have to go back and solicit a new buyer.”

Council plans to introduce an ordinance at its next meeting regarding the easements necessary for the building to be purchased. The Postal Service has proposed paying Princeton $10,000 in return for new easements that are needed for certain features of the property including steps and window wells, which spill over onto land that is owned by the town. Easements granted back in the 1930s dictated that they would expire if the post office ever sold the property. The buyers need to have the existing easements extended, and some new ones conveyed before the sale is finalized.

Council members Heather Howard and Jenny Crumiller said they have spoken with representatives of LCOR Ventures regarding the proposed sale. While the buyer said they don’t yet have a tenant for the space, “We can say with pretty much certainty that it’s going to be either a retail establishment or a restaurant,” Ms. Howard said. She added, “We said please come to the community when you know more, because this is a community that wants to know. This is such an important part of town.”

The building has been a fixture on Palmer Square since the area was redeveloped in the 1930s. Among its historical features is “Columbia Under the Palm,” a mural painted in 1939 depicting Native Americans reacting to the arrival of European colonists. The mural has caused controversy in recent years because some consider it to be racist.

Mr. Lackey said that the USPS owns the mural, and it is not part of the sale. But the purchaser takes over the care of the mural for the postal service.

Selling the post office building is a part of a nation-wide downsizing effort by the postal service. The new location at 259 Nassau Street will be approximately 2,300 square feet, down from the current building’s 12,000 square feet.