Madison Square Garden
Previous Gardens
A third Madison Square Garden) opened in a new location, on Eighth 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 noted theater architect Thomas W. Lamb, it was built at the cost of $4.75 million in 249 days by boxing promoter Tex Rickard; the arena was dubbed "The House That Tex Built". The arena was 200 feet (61 m) by 375 feet (114 m), with seating on three levels, and a maximum capacity of 18,496 spectators for boxing.
Previous Gardens
Demolition commenced in 1968 after the opening of the current Garden, and was completed in early 1969. The site is now the location of One Worldwide Plaza.
Current Garden
In February 1959, former automobile manufacturer Graham-Paige purchased a 40% interest in the Madison Square Garden for $4 million and later gained control. In November 1960, Graham-Paige president Irving Mitchell Felt purchased from the Pennsylvania Railroad the rights to build at Penn Station). To build the new facility, the above-ground portions of the original Pennsylvania Station) were torn down.
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