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

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

05/03/16
...five design options, including one that would demolish Madison Square Garden...

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...

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...

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...

...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...
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