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 Western cities; so protected by good manners and courtesy—like an open-air drawing-room. I could well imagine a winter dancing party being given there, or a reception for some distinguished European visitor. In the early part of the 20th century, the neighborhood around Madison Square Garden became known for the number of clothing manufacturers who had set up shop there, as well as industrial concerns such as the Lionel Train Company, which had its headquarters there, where it displayed its first model train layout. Lionel's competitor, the A. C. Gilbert Company, set up its New York "Hall of Science" in the