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 relentlessly moving uptown, had reached the Madison Square area. Initially, the houses around the park were narrow, crowded and dark brownstone rowhouses with small rooms easily subject to becoming cluttered. Today, the only remnant of these brownstones is a single building at 14 East 23rd Street. Despite this beginning, through the 1870s, the neighborhood became an aristocratic one of brownstone row houses and mansions where the elite of the city lived; Theodore Roosevelt, Edith Wharton and Winston Churchill's mother, Jennie Jerome, were all born here. Madison Cottage was torn down in 1852 to make way for Franconi's Hippodrome, which lasted