The N.I.T . , which is one year older than the N.C.A.A . tournament and was once the more prestigious event , was formerly run by an association of five universities in New York City : St. John 's , Manhattan , Wagner , Fordham and N.Y.U . Under the previous ownership , a preference was shown for high-profile teams and East Coast programs , which drew more television viewers and filled more seats during the semifinals and final at Madison Square Garden .