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 of Broadway and 23rd Street, with the address of 5 East 22nd Street, is the Madison Green condominium apartment tower. While not architecturally notable, the building is significant as one of the first signs that the area was rebounding. The 31-story building was first announced in the mid-1970s, but was not constructed until 1982. Near the other end of the 22nd Street block between Broadway and Park Avenue South is the Madison Square Park Tower at 45 East 22nd Street, a 64-story residential skyscraper which topped-out in 2017 and is expected to open in 2018. Madison Square can be reached