by Michael C. Lowe | February 08, 2012

 About $100 million will be spent to upgrade the Miami Beach hotel formerly known as the Gansevoort, which was purchased by affiliates of Starwood Capital Group, the LeFrak Organization and Invesco Ltd. The 334-room property will be known as the Perry South Beach until the work is done in 2013 and it is rebranded. In addition to its 334 hotel rooms, the property has 255 condo units, 14,000 square feet of meeting space, a 42,000-square-foot David Barton Gym, and several food and beverage outlets. Amenities also include a 26,000-square-foot rooftop pool and a 48,000-square-foot private beach.