MTA May Sell 370 Jay St. to NYU, For Higher Pricetag

MTA's new chairman is on board with the deal to move NYU's new campus into the old office building downtown, but sources say the agency wants more money.

At his confirmation last week, new MTA chairman Joseph Lhota said he was on board with the plan for New York University to open their Center for Urban Science and Progress at 370 Jay St., a mostly-vacant building owned by the MTA, reports the Daily News. The only problem is that the cash-strapped agency needs more money for the building than NYU officials were originally planning to spend.

NYU officials planned to build the new center with $20 million in city money, but the MTA wants $30-60 million for the building, sources told the Daily News. The report says that there are communications and systems equipments currently housed in the building that would need to be moved or replaced.

When the MTA decided to put the Jay St. building , the move was hailed by Borough President Marty Markowitz and state Sen. Daniel Squadron, D-Brooklyn, who called the office building "a blight on Downtown Brooklyn."

NYU's proposed Center for Urban Science and Progress would partner with technology companies like IBM to and more energy efficient.


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