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 replaced it was a Beaux-Arts structure designed by the noted architect Stanford White. White kept an apartment in the building, and was shot dead in the Garden's rooftop restaurant by millionaire Harry K. Thaw over an affair White had with Thaw's wife, the well-known actress Evelyn Nesbit, who White seduced when she was 16. The resulting sensational press coverage of the scandal caused Thaw's trial to be one of the first Trials of the Century. Madison Square became known as "Diana's little wooded park" after the huge bronze statue of the Roman goddess Diana by Augustus Saint-Gaudens that stood atop