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 on December 24, 1912, an event which is commemorated by the illuminated Star of Hope on a tall pole, installed in 1916 at the southern end of the park. Today the Madison Square Park Conservancy continues to present an annual tree-lighting ceremony sponsored by local businesses. Author Willa Cather described Madison Square around 1915 in her novel "My Mortal Enemy" (1926): Madison Square was then at the parting of the ways; had a double personality, half commercial, half social, with shops to the south and residences to the north. It seemed to me so neat, after the raggedness of our