Maison Square Garden, often abbreviated as MSG, and known colloquially simply as The Garden, has been the name of four arenas in New York City. It is also the name of the entity which owns the arena and several of the professional sports franchises which play there. There have been four incarnations of the arena. The first two were located at the Northeast corner of Madison Square (Madison Ave. & 26th St.) from which the arena derived its name. Subsequently a new 17,000-seat Garden (opened December 15, 1925) was built at 50th Street and 8th Avenue, and the current Garden (opened February 14, 1968) is at 7th Avenue between 31st and 33rd Streets, situated on top of Pennsylvania Station.