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 Park Tower It has a fitness center on the second through fourth level featuring a basketball court, a golf studio, private training facilities, and a fitness center. Also there is a children's playroom, a library, and a club with a private dining room on the fifty fourth floor. It contains a small garden outside the building. Madison Square Park Tower Madison Square Park Tower, previously 45 East 22nd Street, is a skyscraper completed in 2017 located between Broadway and Park Avenue South in the Flatiron District neighborhood of Manhattan New York City. The building was designed by Kohn Pedersen Fox and developed