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New York

This month in RE history: MSG opens above Penn Station, CBS buys Ed Sullivan Theater … & more

Farah Halime

The Garden’s 19,000-seat arena built in 1968 was its fourth incarnation.
The Garden’s 19,000-seat arena built in 1968 was its fourth incarnation.

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From the February issue: A “lavish” new Madison Square Garden replaced its “grimy” predecessor in the form of a $150 million complex atop Pennsylvania Station 48 years ago this month. The fourth incarnation of the arena, known simply as The Garden, opened at its current venue on 33rd Street and Eighth Avenue just as the final pieces of furniture were moved out of its former building further north on 50th Street, according to the New York Times. Mayor John Lindsay said in a farewell statement, “The old Garden was an institution; the greatest arena of them all. For two generations, performing at the Garden meant reaching the top.” [more]

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Real Estate History