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 Garden (1890) importance to the New York cultural scene in the early 20th century, Madison Square Garden II was never any more of a financial success than the original Garden was, and the New York Life Insurance Company, which held the mortgage on it, decided to tear it down to make way for a new headquarters building, which would become the landmark Cass Gilbert-designed New York Life Building. Construction on the new building began in 1926, and was completed in 1928. Madison Square Garden (1890) Madison Square Garden (1890-1926) was an indoor arena in New York City, the second by that name,