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 the former Madison Square Presbyterian Church designed by architect Richard Upjohn on the southeast corner of 24th Street, while the Metropolitan Life North Building replaced the 1906 replacement church on the northeast corner of 24th Street and Madison designed by Stanford White and demolished in 1919. Nearby, on Madison Avenue between 26th and 27th Streets, on the site of the old Madison Square Garden, is the 40-floor, high New York Life Building, built in 1928 and designed by Cass Gilbert, with a square tower topped by a striking gilded pyramid. Also of note is the statuary adorning the Appellate Division