X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Cablevision has inked a deal to relocate Madison Square Garden a block from where it now stands, sources tell GlobeSt.com. The arena will become part of the Farley Post Office/Moynihan Station project.

The Garden is not the only site moving. NJ Transit signed on as the anchor rail tenant at Moynihan Station on Eighth Avenue. In November, the NJ Transit board of directors say the extra room is needed to accommodate its growing ridership. Last summer, the team of the Related Cos. and Vornado Realty Trust was selected to redevelop the Farley Post Office. The $818-million project involves 300,000 sf of space for the train station, 850,000 sf for commercial space–including as much as 100,000 sf of retail–and up to one million sf of air rights for residential housing across the street.

The Post Office will continue to occupy 250,000 sf in the Eighth Avenue landmark, whose facade will remain. The project is being funded by the state, city and federal governments, the US Post Office, Vornado and Related.

In late 2004, MSG officials hired Brisbin Brook Beynon for a $300-million renovation effort. The Garden plan included changes all over the arena to the concourses, suites, locker rooms and staging areas. The effort is expected to begin in 2006. This Garden incarnation–the famed arena has changed locations since 1874–cost $116 million and opened in 1968.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.