Madison Sq. Backyard is open to transferring to a brand new location throughout Seventh Avenue if a brand new allow deal might be reached.
The block is now occupied by the Pennsylvania Lodge.
“Nicely that might most likely fulfill us,” mentioned MSG Govt Vice President Joel Fisher. “However finally, who’s going to pay for that? The place is the cash? That plan hasn’t come to us. However that might fulfill being proper on prime of a transportation hub.”
The Backyard’s 10-year allow to function the constructing expires in July, with officers submitting an utility for a particular allow to run the ability in perpetuity.
Redeveloping the brand new house would doubtless value a minimum of $8.5 billion.
Transit advocates contend that relocating the world would create room for a brand new Penn Station on the present web site.
