6Madison Square Garden – $1.07 billion
Also known as MSG or The Garden, Madison Square Garden is an American multi-purpose arena located in Midtown Manhattan, New York City, between Seventh and Eighth Avenues.
It is the 4th venue to bear the ‘MSG’ name and it is used for professional basketball and ice hockey, as well as boxing, ice shows, circuses and concerts.
Opened on February 11, 1968, Madison Square Garden is the oldest and most active major sporting facility in the New York City metropolitan area, as well as the oldest arena in the National Hockey League and the second-oldest arena in the National Basketball Association.
At a total construction cost of $1.07 billion, MSG is one of the costliest stadiums in the world.
The original Madison Square, now a park was the site of 2 venues called Madison Square Garden, the first from 1879 to 1890, and the second from 1890 to 1925.
In 1968, after Irving M. Felt, who purchased the air rights from Pennsylvania Railroad, tore down the above-ground portions of the original Pennsylvania Station, opened the current MSG.
New features include a larger entrance with interactive shops, retail, climate controlled space, larger concourses, broadcast studio, new lighting and LED video systems with HDTV, new seating, more dining options and improved dressing rooms, green rooms, locker rooms and an upgraded roof.
