BP MARKOWITZ APPLAUDS MTA ANNOUNCEMENT THAT 370 JAY STREET IN DOWNTOWN BROOKLYN AMONG PROPERTIES TO BE LEASED OR SOLD

“I am thrilled that the MTA is going ahead with the sale or lease of nine properties—four of them in Brooklyn, including 370 Jay Street in Downtown Brooklyn, something I have been vocally advocating for since 2008 along with the Downtown Brooklyn Partnership and our elected officials. The selling or leasing of superfluous and underused properties and the consolidation of offices has been one of my primary recommendations to the MTA to close budget gaps during this difficult fiscal crisis. Moreover, the rest of Downtown Brooklyn has undergone tremendous and transformative growth, yet 370 Jay Street has remained a virtually vacant eyesore—at times obstructed by sidewalk scaffolding and an unsightly black scrim to protect passersby from the building’s crumbling facade. The MTA has recently renovated the property’s adjacent subway station, Jay Street-Metro Tech, and now the City can finally move forward with plans to transform 370 Jay Street into a job-creating economic anchor in Downtown Brooklyn, supporting the growth of neighboring Class A tenants and existing academic and cultural institutions.”