Politics & Government

NYU 'Close' to Making Deal For 370 Jay St.: Report

Underutilized 'blight' on Downtown Brooklyn put on the market last year.

The Metropolitan Transit Authority, the owner of a long-dormant slice of prime Downtown Brooklyn real estate, might be close to making a deal with New York University to sell 370 Jay St., according to a report in Crain's New York Business.

Crain's reports that talks on creating a multi-million dollar Center for Urban Science and Progress between the two parties would likely accelerate during the new year—most likely driven by the MTA's increasingly dire financial situation, which the transit agency hopes to alleviate by the sale of underused properties across the city.

The MTA's move to put  was quickly hailed by Borough President Marty Markowitz and state Sen. Daniel Squadron, D-Brooklyn, who called the building with 400,000 square feet of office space "a blight on Downtown Brooklyn."

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 to Deputy Mayor for Economic Development Robert Steel and senior officials at the MTA suggesting that “pursuing 370 Jay Street would be a major step forward in the resurgence of Downtown Brooklyn.”


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