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Formerly known as Alumni Hall, Carnesecca Arena opened its doors in December 1961 and is the on-campus facility for the men and women's basketball teams, fencing teams and volleyball team. In 525 games at Carnesecca Arena, St. John's men's basketball has compiled a 443-83 (.842) record, including a 79-65 win against Georgetown University in the first ever game played in the arena.

The University renamed the court in the fall of 2004 and building as part of a dedication ceremony honoring St. John's Hall of Fame coach and longtime mentor Lou Carnesecca. Along with the renaming, the University approved a plan to renovate the building.

Beginning in 2005, Carnesecca Arena underwent more than $30 million of renovations in a three-year period. The new floor plan expanded the lobby of Carnesecca Arena, which now honors past and present St. John's teams with displays of championship hardware. New ticket windows were stationed outside the front entrance allowing easy access for fans, while creating a better traffic flow for large crowds. The building features the newly opened Student-Athlete Center for Excellence, a weight room for varsity athletes, a cardiovascular room, locker rooms, as well as office and meeting space for coaches and administrators. In addition, the arena now has a center-hung scoreboard and refurbished locker rooms. The remodeled arena officially opened in 2008 and currently ranks as the fourth-largest indoor arena in the Metropolitan area with a seating capacity of 5,602.