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 Madison Square Garden Madison Square Garden, colloquially known as The Garden or in initials as MSG, is a multi-purpose indoor arena in the New York City borough of Manhattan. Located in Midtown Manhattan between 7th and 8th Avenues from 31st to 33rd Streets, it is situated atop Pennsylvania Station. It is the fourth venue to bear the name "Madison Square Garden"; the first two (1879 and 1890) were located on Madison Square, on East 26th Street and Madison Avenue, with the third Madison Square Garden (1925) further uptown at Eighth Avenue and 50th Street. The Garden is used for professional