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 Ball Club, one of the first professional baseball teams, are in Madison Square. Amateur players began in 1842 to use a vacant sandlot at 27th and Madison for their games and, eventually, Alexander Cartwright suggested they draw up rules for the game and start a professional club. When they lost their sandlot to development, they moved across the Hudson River to Hoboken, New Jersey, where they played their first game in 1846. On May 10, 1847, the Madison Square Park, named after President James Madison, opened to the public. Within a few years, the tide of residential development, which was