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Madison Square Garden

4 Penn Plaza
New York, NY 10001
Other

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
  • Event Office Leasing
  • Building Name Madison Square Garden
  • Address 2 Pennsylvania Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 1,600
  • Publication Date 01/01/2004
  • Event Date 11/22/2003
  • Party 2 Madison Square Garden Store
notes
Temporary Xmas store sells sports items

04/01/2017
Kamco, which filed a mechanic’s lien for the work in April 2015, claims that Nastasi used payments from the general contractor and property owner to pay other companies, when the money should have gone to the material supplier. The class-action lawsuit is open to those who provided work or materials to Nastasi on several projects, including Madison Square Garden, Trump Tower, 200 Park Avenue and 10 Columbus Circle, according to court documents...

08/01/2014
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 ofNew 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...