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 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

12/14/18
...Plaza, Benjamin Levine has a direct view of Madison Square Garden, home to his favorite basketball team, the New York Knicks. Next to the window...

...Plaza, Benjamin Levine has a direct view of Madison Square Garden, home to his favorite basketball team, the New York Knicks. Next to the window...

11/30/18
...Madison Square Garden (1890) 1908: Shareholders look to sell Madison Square Garden Everyone has limits, and the owners of the Madison Square Garden Company drew the...

11/06/18
...Station would put about 2 million square feet of Madison Square Garden’s highly coveted air rights in play. Vornado is currently best positioned to take...

...Madison Square Garden (1890) 1908: Shareholders look to sell Madison Square Garden Everyone has limits, and the owners of the Madison Square Garden Company drew the...

11/01/18
...proposed deals have already drawn lawsuits from the Madison Square Garden Company and local groups. Renowned architect Frank Gehry is also helping draw people to...

10/09/18
...Station would put about 2 million square feet of Madison Square Garden’s highly coveted air rights in play. Vornado is currently best positioned to take...

10/02/18
...Station would put about 2 million square feet of Madison Square Garden’s highly coveted air rights in play. Vornado is currently best positioned to take...

...Station would put about 2 million square feet of Madison Square Garden’s highly coveted air rights in play. Vornado is currently best positioned to take...

09/10/18
...O’Connor took the job as CEO of Madison Square Garden. They paid $16.25 million for an Upper West Side townhouse, complete with six bedrooms and...

09/09/18
...move in nearby. The owner of The Forum, Madison Square Garden Co., is accusing the city of Inglewood and mayor, James T. Butts Jr., of...

09/06/18
...left: Mayor Bill de Blasio, Governor Andrew Cuomo, Madison Square Garden, and Andrew Lustgarten (Credit: Getty Images, iStock, and MSG) UPDATED, Sept. 6, 5:22 p.m.: The...

08/25/18
...looking for a place that was close to Madison Square Garden," Quinn told the publication. The former garment factory at 252 Seventh Avenue is just a...

06/29/18
...Stanford White was shot dead at the old Madison Square Garden 112 years ago this month, the New York Times reported. The crime scene was a...

...Stanford White was shot dead at the old Madison Square Garden 112 years ago this month, the New York Times reported. The crime scene was a...

...would fill the entire area of the original Madison Square Garden site on Madison Avenue between 26th and 27th streets. The structure, which would house...

04/09/18
...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...

04/09/18
...the 5 million square feet of air rights at Madison Square Garden, which the real estate investment trust co-owns with the Dolan family. Some of the...

...Worldwide, the Los Angeles-based entertainment-venue owner and operator. Madison Square Garden Company: The company that controls Manhattan’s 21,000-seat Madison Square Garden also owns the...

02/19/18
...Madison Square Garden, just one of the many venues that title insurance agents use to entertain clients...

02/01/18
...for formerly owning Cablevision but who also own Madison Square Garden and other sports properties, gave $250,000. Red Apple Group's John Catsimatidis, his wife Margo and...

...Madison Square Garden, just one of the many venues that title insurance agents use to entertain clients...

01/23/18
...also host an event at its box at Madison Square Garden during the New York Knicks vs. Brooklyn Nets game. In 2016, Compass, which competes with...

01/03/18
...Roth's Vornado Realty Trust and the owners of Madison Square Garden are safe bets.) In May, Cuomo suggested shifting control of the station from Amtrak...

12/15/17
...profile, which means that the VIP boxes at Madison Square Garden, Yankee Stadium and the Barclays Center, though already paid for, will remain empty for...

...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...

...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...