Madison Square Garden, often abbreviated as MSG and known colloquially as The Garden, is the name of the arena in the New York City borough of Manhattan, located at 8th Avenue between 31st and 33rd Streets, situated on top of Pennsylvania Station. The arena opened on February 11, 1968, and is the fourth incarnation of the arena in the city. One Penn Plaza stands at its side. Several other operating entities related to the venue share its name.
In 2007 the Arena came second as “World’s Busiest Arena” after the Manchester Evening News Arena in Manchester, England.
Madison Square Garden refers to itself in its advertising campaigns as “The World’s Most Famous Arena.”

On February 11, 1968, the current Madison Square Garden (sometimes referred to as “Madison Square Garden IV”) opened after the Pennsylvania Railroad tore down the above-ground portions of Pennsylvania Station and continued railway traffic underneath. The new structure was one of the first of its kind to be built above an active railroad system and the platforms of an active railroad station. It was an engineering feat constructed by R.E. McKee of El Paso, Texas.

Public outcry over the demolished Beaux-Arts structure led to the creation of the New York City Landmarks Preservation Commission.
The current Garden is the hub of Madison Square Garden Center in the office and entertainment complex formally addressed as Pennsylvania Plaza and commonly known as “Penn Plaza” for the railroad station atop which the complex is located.
In 1972, the Garden’s Chairman, Irving Mitchell Felt, suggested moving the Knicks and the Rangers to what was a proposed venue in the New Jersey Meadows (now completed and known as Meadowlands Sports Complex or Izod Center.) This location now hosts its own NBA team (New Jersey Nets) and from 1982–2007, the NHL’s New Jersey Devils. The NFL’s New York Giants were the only established New York–named team that actually did move there, and they were later joined by the Jets. Felt’s efforts fueled controversy between the Garden and New York City over Real Estate Tax. The scenario again flared in 1980 when a reported threat by the Garden supposed a similar move of popular sports teams in an effort to again challenge property tax. Efforts were ignored by city leaders.
MSG was the home arena for the NY Raiders/NY Golden Blades of the World Hockey Association.
In 1991, Garden owners spent $200 million to renovate facilities and add 89 suites. The process involved hundreds of upper-tier seats being removed to make way. The project was designed by Ellerbe Becket.
In 2004–2005 Cablevision battled with the City of New York over proposed West Side Stadium which would compete with the Garden. New stadium proposals halted; and Cablevision announced its own plans to raze the Garden, replace it with high-rise commercial buildings and build a new Garden one block away at the James Farley Post Office site in conjunction with the Moynihan Station project. However, on April 3, 2008 MSG executives announced plans to once again renovate and modernize the current Garden in time for the Knicks and Rangers’ 2011–12 seasons, though the vice president of the Garden says he remains committed to the original Moynihan project – the installation of an extension of Penn Station in the Farley Post Office.

Seating in the present Madison Square Garden is arranged in six ascending levels. The first level, which is only available for basketball games and concerts, but not for hockey games and ice shows, is the “floor” or “court-side” seating. Next above this is the loge seating, followed by the 100-level and 200-level promenades, the 300-level promenade, and the 400-level or mezzanine. The seats of these levels originally bore the colors red, orange, yellow, green, and blue, respectively. For hockey, the Garden seats 18,200; for basketball, 19,763; and for concerts 20,000 center stage, 19,522 end-stage. The arena features 20,976 square feet (1949 m²) of arena floor space.

Because all of the seats, except the 400 level, are in one monolithic grandstand, distance from the arena floor is significant from the ends of the arena. Also, the rows rise much more gradually than other North American arenas, which can cause impaired sight lines, especially when sitting behind tall spectators or one of the concourses.