TNA doing shows at the Hammerstein ballroom is a great idea actually. The money they're paying to rent it seems a bit crazy though. Then again, everything is more expensive in NYC. I'm not sure they will be able to make that money back with these shows though. This is a step in the right direction for them since there really isn't too many better cities to book wrestling shows in. They need to do a lot more shows up north in cities like this where wrestling is hot. ROH runs shows at Hammerstein somewhat regularly and they always seem to do OK. There's no reason to think that TNA wouldn't be able to draw a respectable crowd there.
TNA does need a new champion to help them draw up there. Magnus just isn't gonna do it. They should put the belt on Bully Ray and have him come back home to NYC as champ to help draw some better crowds. Samoa Joe would be another good choice as champion going into these shows since he might be able to bring in some long time ROH fans who remember him from his days there. But this thinking makes sense, so you know TNA won't do it.