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 estate boom, only to see their plans for the former Roney Palace roiled by the collapse of the condo market.

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