Squadron: Come On, Guys, Let's Put 370 Jay to New Use

Plans to re-purpose the former MTA headquarters at 370 Jay Street in Downtown Brooklyn—which the city owns but the MTA has a long-term lease on and wants a lot of money ($50-60 million, reportedly) to accept a buyout of the lease from the city—were in the news a lot over the winter, but there hasn’t been much word about the negotiations in some time. Despite the fact that NYU was a bridesmaid when it came to the city’s big tech campus plans for Roosevelt Island, the university still seems intent on revamping the structure and using it as a tech-oriented grad school. Yesterday State Senator Daniel Squadron sent out a press release on the matter, perhaps to bring it back into the limelight: “For years, the nearly-abandoned former MTA headquarters at 370 Jay Street has limited Downtown Brooklyn’s extraordinary potential,” said Senator Squadron in the release. “The MTA-EDC announcement of RFPs for seven other underutilized MTA properties throughout the City is a reminder that now is the time to finally make full use of 370 Jay. I’ll continue to push to make NYU-Poly’s Center for Urban Science & Progress a reality – which would put 370 Jay to use, allow Downtown Brooklyn to continue to grow and thrive, and move New York forward on its path of innovation.” Of course the plan does sound like a no-brainer and as though it would have enormous potential to continue Downtown Brooklyn’s revitalization, but the money’s the rub.
Negotiations Continue for NYU Takeover of 370 Jay [Brownstoner] GMAP
Politicians Rally for NYU’s Overhaul of 370 Jay Street [Brownstoner]
NYU’s Plans for 370 Jay Street May Still Happen [Brownstoner]
Details About NYU’s Designs on 370 Jay [Brownstoner]