Claim: In 1975 National Invitation Tournament (38th edition of the oldest annual NCAA college basketball) there are 16 teams competed and the finals was held in Madison Square Garden New York City, in which the Princeton Tigers won the 1st title.
Evidence: The 1975 National Invitation Tournament was the 38th edition of the oldest annual NCAA college basketball postseason tournament. Below is a list of the 16 teams selected for the tournament. 1975 National Invitation Tournament Madison Square Garden
New York City Princeton Tigers (1st title)