The production was scheduled to close on March 19, 1955, but an agreement was worked out with the various unions to institute a schedule of four performances a week to save costs, with everyone getting paid less. The union representating the performers for this production was not Actors' Equity but was the American Guild of Musical Artists (AGMA). The new schedule ran Friday through Sunday (Friday evening, matinee and evening on Saturday, and matinee on Sunday). The new schedule started on Sunday, March 20.
It was estimated by producer Chandler Cowles that the new schedule would reduce running costs 50 to 60 percent. It wasn't enough, however, to enable the production to run much longer. It closed on April 2.
On Tuesday, April 12, the New York Drama Critics Circle voted the work the best musical of the 1954-1955 season. Although some of the other eligible musicals had received strong reviews, The Saint of Bleecker Street easily prevailed over the competition, winning 11 votes from the 23 members of the Drama Critics Circle who voted. (Two of the members voted by proxy, with one of those two not having selected a choice for best musical.) Its nearest competitor was The Pajama Game, which received six votes, while Plain and Fancy received three votes, and Fanny and Silk Stockings each received one vote.