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 Garden (1925) Square Garden was torn down, there was a proposal to build the world's tallest building on the site, prompting a major battle in the Hell's Kitchen neighborhood where it was located. Ultimately, the debate resulted in strict height restrictions in the area. The space remained a parking lot until 1989 when Worldwide Plaza, designed by David Childs of Skidmore, Owings and Merrill, opened on the site of the old Garden and French Polyclinic Hospital across the street. Madison Square Garden (1925) Madison Square Garden (MSG III) was an indoor arena in New York City, the third bearing that name. It