Does one person own the land where Madison Square Garden stands and receive approximately 385K per month?

Answer

Where did the $385,000 come from? Is this just an arbitrary figure?

Whatever. Have you done a search on "Madison Square Garden"? You might be able to find out who currently owns it or the ground it sits on if you look for an article about the history of the Garden.

Answer

One half of the land under Madison Square Garden is owned by Vornado Realty Trust (CEO Steven Roth).

Interestingly, Vornado Realty Trust is also the developer for the new building at One Beacon Court (between 58th and 59th streets and Lexington and Thrid Avenues)on the site where Alexanders Department store used to be and which is now the headquarters for Bloomberg's company.

It could be said that Bloomberg's push for a West side stadium and attacks on Cablevision are evidence of Bloomberg looking out for the best interests of his developer buddy and the first stages of future deals that involve the development of the land on which Madison Square Garden now stands.

First answer by anonymous. Last edit by Sdresh. Contributor trust: 179 [recommend contributor]. Question popularity: 220 [recommend question]