Wall Street Journal
by Lingling Wei
September 27, 2010
One of the city’s leading real-estate families is close to a deal to sell its shuttered Milford Plaza Hotel to a partnership led by private-equity firm Rockpoint Group LLC for about $200 million, according to people familiar with the matter.
The 1,300-room hotel, situated among the famous theaters of Broadway, closed in December.
New York Post
by Steve Cuozzo
July 20, 2010
The “Lullaby of Broad way” might become The Lulla-buy of Broadway. The owners of The shuttered Milford Plaza Hotel, which used The slogan for decades, have tapped a top hotel broker to assess interest in a possible sale.
The 1,300-room Milford Plaza between West 44th and 45th streets closed last December for top-to-bottom renovations — “discover The truth behind The buzz,” a sign teased. But in March, The job was “suspended indefinitely” as The owner assessed “its options for The property.”
Crains NY Business
by Lisa Fickenscher
March 12, 2010
Redesign of Times Square hotel was expected to be completed by October of 2011, but tight credit has set back the plan.
The “Lullabuy of Broadway” otherwise known as the Milford Plaza hotel may be taking a longer nap than it had planned.
The Times Square property on Eighth Avenue and 45th Street closed on Dec. 12, 2009 for a major renovation that was expected to be completed in October 2011. But last month, its owner, the Seymour Milstein family, decided to suspend its renovation plan indefinitely. A spokeswoman for the property attributed the decision to the economic climate.
Crains New York Business
By Elisabeth Butler Cordova
September 16, 2009
Some 350 employees will be laid off in December while the hotel undergoes more than a year-and-a-half overhaul of its guest rooms and public areas.
The Milford Plaza is closing for 18 to 21 months for extensive renovations. Workers will overhaul every guest room and public area in the 1,301-room property, located on Eighth Avenue and West 45th Street.
All 354 of the hotels employees will be laid off during the last weeks of December to make way for the project, according to a labor document filed with the state.
New York Times
by Patrick McGeehan
September 15, 2009
The “Lullabuy of Broadway” is preparing for a long hibernation.
Management of the Milford Plaza Hotel near Times Square has notified its 354 employees that it will close in December for a renovation that will take at least 18 months, according to state records and a spokesman for the union that represents most of the workers.
The 1,301-room hotel, which has promoted itself to theater-loving tourists for decades as the “Lullabuy of Broadway,” is scheduled to close after the last guests check out on Dec. 12, said Jeffrey E. Pertz, a representative of the hotel’s owner. Mr. Pertz said the hotel’s business traditionally begins to tail off two to three weeks after Thanksgiving.
Sources say the middling property is planning a multimillion-dollar renovation to capitalize on some of the recent developments in its neighborhood
Crains NY Business
edited by Valerie Block
July 22, 2007
Milford Plaza, the theater district hotel still known for its cheesy 1980s jingle sung to the tune of “Lullaby of Broadway,” will be spiffing up its image next year.
Sources say the 79-year-old middling property at 270 W. 45th St. is planning a multimillion-dollar renovation to capitalize on some of the recent developments in its neighborhood.
Several weeks ago, The New York Times moved into a brand-new office tower designed by Renzo Piano, and real estate experts say retail and other developments will soon follow.
Owned by real estate firm Ogden Cap Properties, the 1,300-room Milford Plaza will be completely redone, with redecorated guest rooms, a new executive club lounge and a new restaurant. Hotel executives could not be reached for comment. Room rates currently run about $250 a night.