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 (1890) third Madison Square Garden at Eighth Avenue and 50th Street, which was the first to be located away from Madison Square. Madison Square Garden II, as it has come to be called in retrospect, was designed by noted architect Stanford White, who kept an apartment there. In 1906 White was murdered in the Garden's rooftop restaurant by millionaire Harry Kendall Thaw over White's affair with Thaw's wife, the well-known actress Evelyn Nesbit, whom White seduced when she was 16. The resulting sensational press coverage of the scandal caused Thaw's trial to be one of the first Trials of the Century.