Madison Square Garden in the city and a roof garden cabaret. The building cost $3 million. Madison Square Garden II was unsuccessful like the first Garden, and the New York Life Insurance Company, which held the mortgage on it, decided to tear it down in 1925 to make way for a new headquarters building, which would become the landmark Cass Gilbert-designed New York Life Building. A third Madison Square Garden opened in a new location, on 8th Avenue between 49th and 50th Streets, from 1925 to 1968. Groundbreaking on the third Madison Square Garden took place on January 9, 1925. Designed by the
Madison Square and Madison Square Park at about the same location to honor the city's war dead. Thomas Hastings designed a triple arch which cost $80,000 and was modeled after the Arch of Constantine in Rome. Once again, a bid to make the arch permanent failed. The park was the site of an unusual public protest in 1901. Oscar Spate, a displaced Londoner, convinced the Parks Commissioner, George Clausen, to allow him to pay the city $500 a year to put 200 cushioned rocking chairs in Madison Square Park, Union Square, and Central Park and charge the public 5 cents for their use. Free benches were