The cash-strapped Metropolitan Transportation Agency should sell a valuable piece of property in Downtown Brooklyn to private investors, a local development corporation says.

Michael Burke, of the Downtown Brooklyn Partnership, says 370 Jay St. is worth tens of millions of dollars, despite being vacant for years. He says the MTA should sell the building so it can house small businesses instead of going forward with a $184-million renovation project.

The MTA plans to turn the building into a business services center where 450 employees would work.