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Awasome Previous Building Where Madison Square Garden Is Ideas . Web madison square garden is close to popular attractions like macy’s herald square and the empire state building. Being located in the heart of newyork city was one thing, but its entertainment prowess was another. Madison Square Garden All Access Tour Smartsave 20 Discount from www.smartsave.com In 1925, a new, new version of madison square gardens was built on 8th avenue and 50th street. It was replaced with a new building on the same site. The first venue to use that name, it seated 10,000 spectators.