Madison Square Garden | The Real Deal New York

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Madison Square Garden

4 Penn Plaza
New York, NY 10001
Other
Madison Square Garden
Madison Square Garden is an indoor sport and entertainment arena at 8th Avenue between 31st and 33rd streets in Midtown Manhattan. With a seating capacity near 20,000 for most events, it is home to the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. It opened on February 11, 1968, but previously there were two other arenas called Madison Square Garden, the first from 1879-1890 and the second from 1925 to 1968, both located at the intersection of 5th Avenue and 23rd Street. The current structure is built on top of Pennsylvania Station. Madison Square Garden is currently on a 10-year permit to stay in that spot, one the owners had hoped would have been extended to perpetuity in 2013. The City Planning Commission called for a 15-year permit, but City Council Speaker Christine Quinn and a group of activists were able to reduce the timeframe to 10 years. Madison Square Garden has had a property tax exemption since 1982, one that now saves MSG tens of millions of dollars each year. The owners originally won that exemption from City Council by threatening to move the teams to New Jersey in the face of rising operational costs, but it is now the subject of much debate and whether or not MSG will be able keep that exemption in the future is unclear.
  • Address 4 Penn Plaza
  • neighborhood Midtown
  • borough Manhattan
  • owner Vornado Realty Trust
  • owner entity VORNADO NEW YORK ONE
  • block and lot 1-00781-0001
  • BIN 1082908

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09/14/16
...he was just 10 years old, Jason Silverstein would go to Madison Square Garden and get schooled in the art of haggling 101. His dad...

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08/31/16
It may be tricky to keep up with Kim Kardashian and Kanye West on this one — unless you can convince Airbnb to let you...

Howard Lorber
07/28/16
Bucking the notion that the real estate market is softening like butter on a balmy day, Douglas Elliman sold $6.4 billion worth of real estate...

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06/20/16
State officials have selected the three construction teams that can compete for a chance to redevelop the Jacob K. Javits Center. Gov. Andrew Cuomo on Monday announced...

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06/16/16
If a Brooklyn developer gets his way, New Yorkers will soon hear screams coming from Penn Station. Tags: james a. farley post office, Moynihan Station,...

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05/18/16
Tishman Construction can’t bid on the expansion of the Jacob K. Javits Center — but that doesn’t mean it won’t work on the project. Tags:...

monroe
05/04/16
As Marilyn learned, no skirt is safe over a blustery subway grate. Not even, it turns out, when it’s on a building. Tags: 2 penn...

mohiyan
05/03/16
Vornado Realty Trust is teaming with the Related Companies and Swedish construction giant Skanska on a bid to redevelop the James A. Farley Post Office...

05/03/16
...whether some $70,000 paid to Gov. Andrew Cuomo's former aide turned Madison Square Garden executive led to special treatment for a developer and civil...

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05/03/16
If the redevelopment of Penn Station is going to move forward, Mayor Bill de Blasio and Gov. Andrew Cuomo will need to start playing nice....

Rendering Penn Station Mitchell Moss thumb
04/26/16
...the redeveloped Penn Station (Flickr / GovernorAndrewCuomo) (inset: Mitchell Moss) Moving Madison Square Garden a few blocks away to make for the redeveloped, above-ground...

Penn station rendering feature
04/22/16
Some of the city’s most prominent developers and designers are vying for a challenge put forth by Gov. Andrew Cuomo: Make Penn Station less hellish....

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03/09/16
TRD Special Report: A year into his second term, Gov. Andrew Cuomo is a man with a limited legacy. Well before fiascoes like the Moreland...

B70067
02/19/16
...its fourth incarnation. From the February issue: A “lavish” new Madison Square Garden replaced its “grimy” predecessor in the form of a $150 million...

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02/17/16
UPDATED, Feb. 17, 11:32 a.m.: As part of its mission to revamp its Penn Plaza portfolio, Vornado Realty Trust plans to combine its One and Two...

knicks-game thumb
02/08/16
...last year, Elliman entered into a multi-year sponsorship deal with Madison Square Garden for the right to slap its grey-and-blue logo on an...

Farley rendering feature
01/22/16
The freshly released solicitation for the massive overhaul of Penn Station and the Farley Post Office shows that architecture firm Skidmore, Owings & Merrill is...

TrainHall feature
01/06/16
Gov. Andrew Cuomo hit the restart button on the long-delayed Moynihan Station project on Wednesday, meaning that Related Companies and Vornado Realty Trust are —...

Penn station food court thumb
12/22/15
A plethora of eateries associated with world famous chefs is coming to Vornado Realty Trust’s 2 Penn Plaza, above Penn Station. Tags: 2 penn plaza...

NYC-2016FB
12/07/15
When Oct. 21, 2015 finally rolled around earlier this year, few could resist comparing how accurately the movie “Back to the Future” envisioned the world of today...

235 West 35th Street ft
11/17/15
...-room hotel at 235 West 35th Street, one block north of Madison Square Garden, on Nov. 5, according to property records filed with the city...

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11/04/15
...issue: Worshipers attending the Mass celebrated by Pope Francis at Madison Square Garden received more than a blessing. They also got a handout...

St. Patrick's Cathedral
09/30/15
...St. Patrick's Cathedral As droves of people gathered at Madison Square Garden last week to celebrate mass with Pope Francis, volunteers distributed...

images-2
09/20/15
...Charles Dolan and Madison Square Garden This week, the Dolan family, which controls Madison Square Garden...

featured
09/19/15
The world’s skylines are constantly changing. Some of the most historically stunning architectural gems are now gone forever, thanks to new constructions, natural disasters, and political...
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comm-market
New York office leasing improved significantly over the past year. But the steady pace of deals wasn’t enough to fill all the large blocks of...
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