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 were held in restaurants such as Delmonico's. Nearby, huge dry-goods emporia such as Siegel-Cooper in the Ladies' Mile district brought daytime crowds of shoppers. No longer primarily residential, Madison Square was still a thriving area. At the western side of Madison Square Park, on an island bordered by Broadway, Fifth Avenue, and 25th Street, stands an obelisk, designed by James Goodwin Batterson which was erected in 1857 over the tomb of General William Jenkins Worth, who served in the Seminole Wars and the Mexican War, and for whom Fort Worth, Texas was named, as well as Worth Street in lower