South Beach's Gansevoort hotel to be auctioned in foreclosure sale | miamiherald.com

Lenders plan to sell ownership of the Gansevoort South in an auction next month, less than two years after the hotel opened as a popular stop on Miami Beach's party circuit. Credit Suisse announced Wednesday morning an auction for the ownership stake used to secure an $89 million mezzanine loan on the 334-room oceanfront hotel. Developers William and Michael Achenbaum secured the financing for the project at the height of South Florida's real...