Madison Square Garden | The Real Deal New York

The Real Deal New York

trd topics
X


NAME


EMAIL


SUGGESTED
UPDATE

captcha

Please type the words that appear above
Than click SUBMIT
advanced search
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

Tao Group execs take stake in Stewart Hotel near MSG
07/14/17
...a stake in a 618-key hotel across from Madison Square Garden, a few months after the family that controls the famed arena bought a controlling...

Clash of the titans: Liebman and Lorber take off the gloves at TRD forum
05/15/17
...Douglas Elliman plasters its logo on seats at Madison Square Garden and shells out on costs related to its expansion into markets like Los Angeles...

Here are 15 of the most notable members of Mar-a-Lago
03/19/17
...New York Knicks and executive chairman of The Madison Square Garden Company. James Dolan 3. Beth Stern is an actress, model, and the wife of Howard...

Someone recreated the old Penn Station in Minecraft: PHOTOS
03/11/17
...the current Penn Station is today squeezed under Madison Square Garden, I felt the need to make it so that I could have some sort...

Douglas Elliman closes $24.6B in sales in 2016
03/02/17
...include glossy magazines and sponsoring courtside seats at Madison Square Garden, have coincided with a slowdown in the luxury market in New York City. “The...

Eyes to the sky: The hottest renderings of 2016
12/19/16
...Williamsburg’s waterfront, to a thrill ride atop Madison Square Garden. Here's a look at the hottest renderings of 2016. A rendering of All Year Management's...

Envisioning a post-Roth Vornado: Will the REIT chief leave a void that’s impossible to fill?
11/01/16
...a $14 billion redevelopment that would have also transplanted Madison Square Garden across the street and replaced it with two skyscrapers, one taller than the Empire...

Pebblebrook, Denihan split portfolio of 6 Manhattan hotels
10/20/16
...away with the 618-room Manhattan NYC hotel near Madison Square Garden and the 252-key Dumont NYC in Kips Bay, according to a press release issued...

Can Moynihan Train Hall’s office and retail compete?
10/07/16
...tenants to the post office. At different times, Madison Square Garden, a community college, CBS and most recently, General Electric were potential suitors — all of...

RPA and its incoming chair Rechler argue over Penn Station
10/05/16
...to Penn Station’s problems would require relocating Madison Square Garden. It also urged the construction of a new rail tunnel underneath the Hudson River...

Critics say Cuomo’s plans for Penn Station don’t cut it
10/03/16
...Penn Station and reiterated their long-held belief that Madison Square Garden should be relocated to do so. “In order to provide capacity for future growth...

Comeback kids: Related, Vornado win bid for Moynihan Train Hall redevelopment project
09/27/16
...of Penn Station, one of which included removing Madison Square Garden’s Paramount Theater to create a grand entrance at Eighth Avenue. Another option called...

At the Desk of: Jason Silverstein
09/14/16
...just 10 years old, Jason Silverstein would go to Madison Square Garden and get schooled in the art of haggling 101. His dad, who owned car dealerships...

Kim and Kanye score free Tribeca penthouse through Airbnb
08/31/16
...New York Fashion Week and West's show at Madison Square Garden next month, Page Six reported. Airbnb provided the five-bedroom penthouse to Kardashian and West...

Thanks largely to new development, Douglas Elliman sold $6.4B in real estate in Q2
07/28/16
...including glossy magazines and a sponsorship deal with Madison Square Garden — associated with its expansion into new markets, Lorber told The Real Deal earlier this...

And then there were three: Skanska, Lend Lease and Gilbane to compete for Javits redevelopment
06/20/16
...Kennedy Airport in 2013. Turner helped build the original Madison Square Garden and later led the facility's renovation. A spokesman for Lend Lease declined to comment...

Penn Station: The new home to NYC’s hottest thrill ride?
06/16/16
...Capital Partners hopes to build on top of Madison Square Garden or the James A. Farley Building. The firm has proposed building a 1,200-foot-high ride...

Javits Center contracts draw concern in light of state, federal probes
05/18/16
...York. The probe involves Cuomo's former aide turned Madison Square Garden executive, Joseph Percoco, who reported receiving $125,000 in 2014 from two companies with business before the...

Itching for an icon: Vornado channels Marilyn Monroe with 2 Penn Plaza design
05/04/16
...office building, as well as Penn Station and Madison Square Garden. The hope, it seems, is that those passing through will have a similar reaction...

Vornado partners with Related, Skanska on Moynihan bid
05/03/16
...s Hotel Pennsylvania, at 401 Seventh Avenue adjacent to Madison Square Garden, has continued to underperform -- with the REIT viewing the property as a “parking...

Feds probe developer, engineer’s payments to ex-Cuomo aide
05/03/16
...paid to Gov. Andrew Cuomo's former aide turned Madison Square Garden executive led to special treatment for a developer and civil engineering firm. Financial filings...

What’s standing in the way of Penn Station’s makeover?
05/03/16
...five design options, including one that would demolish Madison Square Garden...

Relocating MSG would cost $5B: Think tank
04/26/16
...Penn Station (Flickr / GovernorAndrewCuomo) (inset: Mitchell Moss) Moving Madison Square Garden a few blocks away to make for the redeveloped, above-ground Penn Station may seem...

Who can develop the new $3B Penn Station complex?
04/22/16
...of Penn Station, one of which includes removing Madison Square Garden’s Paramount Theater to create an entrance at Eighth Avenue. Across the street, Moynihan...

Andrew Cuomo really wants to be New York’s next master builder — but can he deliver?
03/09/16
...four different designs, one of which included moving Madison Square Garden into the post office. Sources who have followed the project’s history closely told...

Bracing for lien times
...or materials to Nastasi on several projects, including Madison Square Garden, Trump Tower, 200 Park Avenue and 10 Columbus Circle, according to court documents. Federated Fire, which...

Balking at big office blocks
...percent in June. Midtown The Dolan family’s Madison Square Garden Company renewed a pair of leases in two Vornado Realty Trust buildings in the...
Sections