Miami Beach's Gansevoort hotel is under new management

William and Michael Achenbaum, the father-and-son team of New York developers who opened the Gansevoort in 2008, lost the 334-room luxury to the lender three weeks ago. They had hoped to retain the management contract at the luxury property known for celebrity sightings, but lender Credit Suisse signed another manager, Coral Hospitality. Credit Suisse's loan agreement allows it to keep the Gansevoort name on the hotel at 2377 Collins Ave., and an Achenbaum company is suing over the lost contract.

A statement issued late Tuesday by the Achenbaums' Gansevoort Hotel Group warned the new operators couldn't deliver ``the clientele, style, cachet and vast array of amenities'' of a Gansevoort hotel. The Achenbaums own and run the original Gansevoort hotel in New York.