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- There are plans to convert Madison Square Garden into a new concourse for Penn Station, and to create a new home for the sports facility between two supertall skyscrapers near Herald Square1. The estimated cost to relocate the sports venue is $8.6 billion, which includes $5 billion to purchase new land and construct a replacement arena2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Community Board Five’s Land Use, Housing & Zoning Committee voted in a meeting on Wednesday to advance plans for a massive undertaking in Midtown involving the conversion of Madison Square Garden into a new concourse for Penn Station, and the creation of a new home for the sports facility between two supertall skyscrapers near Herald Square.newyorkyimby.com/2021/01/twin-supertalls-reveale…ESD officials during the meeting projected it would cost taxpayers $8.6 billion to relocate the sports venue, an estimate that includes $5 billion to purchase new land and construct a replacement arena.www.nydailynews.com/2021/11/19/madison-squar…
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