The Real Estate Bloggers

Is The Milford Plaza Coming Back? You Know It Is The Lullaby of Broadway

Posted: 27 Sep 2010 06:27 AM PDT

The word on the street is that the Milford Plaza, which is in the heart on Manhattan’s Theater District, may be sold and reopened. The hotel is famous mainly for an ad that ran for years in the New York area on local television. If you grew up in the New York Tri-State region you will never forget the Lullaby of Broadway theme.

A smart marketer would find a way to bring back this theme when they re-open the hotel.

The 1,300-room hotel, situated among the famous theaters of Broadway, closed in December.

A planned renovation of the hotel has been suspended as the owner—an entity controlled by Philip Milstein and other members of the family of the late Seymour Milstein—assesses its options for the property.

The deal could still fall apart, as the terms haven’t yet been finalized, the people said. But the potential sale is the latest sign of a thawing sales environment in Manhattan.

The sales volume of hotels, office buildings and other commercial property is up this year versus last but still far off peak levels. via the WSJ

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Is The Milford Plaza Coming Back? You Know It Is The Lullaby of Broadway