An interesting proposal has come out of NYC, moving MSG one block west

A developer has proposed moving Madison Square Garden one block west during renovations/city improvements. According to the New York Times:

Steven Roth is quietly trying to revive a plan to move Madison Square Garden one block west of its current home atop Pennsylvania Station just as the arena is beginning a major $850 million renovation.

The interesting part here is if this proposal were to be somehow adopted and the Garden moved how much of the $850 million (like so much chicken feed in NY real estate deals) is already committed to the improvements, how many contracts have been signed and how much has been promised.

More on Roth's proposed move of MSG:

Now, Mr. Roth is proposing to scrap the zoning district and the development rights transfer. He would simply move the Garden into a new arena that would be built within the walls of the James A. Farley Post Office, which sits across Eighth Avenue from the Garden. The post office building would also become an adjunct for an expanded Penn Station, which would be renamed Moynihan Station.

It's an interesting IDEA to be certain and who knows how it all shakes out when you have three professional teams involved all looking out for their own interests. No worries yet anyway, this will take quite while to decide on.