It is located beneath the main Madison Square Garden arena that hosts MSG's larger events.

Due to its location beneath the main Madison Square Garden arena, the theater has a relatively low 20-foot (6.1 m) ceiling at stage level.

[7] The theater occasionally hosts boxing matches on nights when the main arena is unavailable, or fights between promising boxers who management believe will not fill up "the big room".

Notable fights include Sergio Martínez vs. Matthew Macklin in 2012, Vasiliy Lomachenko vs. Guillermo Rigondeaux in 2017, and Teófimo López vs. George Kambosos Jr. in 2021.

[10] This concert was transmitted live to most Latin American countries, including Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, Puerto Rico, the Dominican Republic, Uruguay and Venezuela, and to the United States.

[11] An annual staging of The Wizard of Oz played at the theater from 1997 to 1999. Notable actors in the musical included Roseanne Barr, Eartha Kitt, and Jo Anne Worley as the Wicked Witch of the West;[12][13][14] Mickey Rooney as the Wizard, and Ken Page and Lara Teeter as the Cowardly Lion and Scarecrow, respectively.

[13] In 2001, the national tour of Rodgers and Hammerstein's Cinderella starring Jamie-Lynn Sigler in the title role, Eartha Kitt as the Fairy Godmother, and Paolo Montalban as Prince Christopher played at the theater.

In 2005, the NFL Draft moved to the Jacob K. Javits Convention Center, after MSG management opposed a new stadium for the New York Jets.

[22] The first-ever mixed martial arts event was held at the theater World Series of Fighting 34: Gaethje vs. Firmino on December 31, 2016.