Great Stay, a Few Surprises
We had stayed at this hotel several years back, and were drawn back by hearing of recent renovations. The lobby looks the same, well worn, drab, and an escalator that is out-of service. 
On the way to our room we walked down hallways that were dark (the ceiling is black or dark gray) but some of the walls were covered with colorful photographs of typical NYC neighborhood scenes. Definitely new. Our room was quite comfortable, though small. The bed was great, as were the bed linens. Also, a terrific shower. Not enough room for toiletries by the sink (a pet peeve of mine). 
The Milford has an unusual elevator system that cuts down considerably on waiting for an elevator. A definite plus.
The location can't be beat if you plan to see some Broadway shows. We were literally next door to the Jacobs, where we had tickets for Once. You're right in the heart of Times Square and the theater district. 
For the money, pretty good accommodations.