Milford Plaza Hotel looks for buyers

The owners of The Milford Plaza Hotel are testing the waters to assess
interest in selling the 1,300-room hotel at 700 Eighth Avenue between
44th and 45th streets, according to the New York Post. The hotel, owned
by an affiliate of Ogden Cap Properties, which is controlled by real
estate bigwig Philip Milstein, has been closed since December for a
complete renovation. But after the refurbishing was “suspended
indefinitely” in March, the owners said they tapped the Atlanta-based
Hodges Ward Elliot brokerage to explore options. The Milstein’s have
denied rumors that they were unable to get construction financing for
the renovation, claiming instead that they were financing it
themselves. No word yet on what the hotel’s asking price would be, if
it does hit the market. [Post, 1st item]