Madison Square Garden Entertainment Corp. has entered into a non-binding agreement with Penn Transformation Partners for the redevelopment of New York Penn Station. Under the agreement, Madison Square Garden will remain fully operational at all times during construction, and the Infosys Theater at MSG will be transferred to the master developer, subject to further negotiation. The memorandum of understanding follows the Trump administration's selection of a design that keeps Madison Square Garden at its current location but demolishes the 5,000-seat Infosys theater to make way for a grand new station entrance on Eighth Avenue, featuring a multi-level, glass-encased podium that brings natural light and extra space into Penn Station.
Madison Square Garden Entertainment CorpAgreement ensures MSG remains fully operational during redevelopment, avoiding disruption.
Infosys Ltd ADR