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 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 by Ian Bruce Eichner's Continuum Company. When completed it will be the tallest building between Midtown and the Manhattan Financial District. It was the second skyscraper to be built on that block, the first being One Madison. Demolition began on the buildings occupying the lot in April 2014, and was finished by July 2014.