Miami Beach condo-hotel owner torpedoes foreclosure auction with bankruptcy filing

The owner of Miami Beach’s Sixty Sixty Resort thwarted a foreclosure auction at the last minute by filing for bankruptcy.  Coconut Grove-based Bloom Hotels 6060 filed a chapter 11 petition in Miami federal court on Monday, a day before the 16-story waterfront building at 6060 Indian Creek Drive was set to be sold to satisfy a lender’s $23.7 million judgment, the South Florida Business Journal reported.  The owner listed ​assets and liabilities each in the $10 million to $50 million range, according to the petition signed by the entity’s manager, Richard Valdes. Bloom Hotels 6060 owns all 87 condo-hotel units […]This article originally appeared on The Real Deal. Click here to read the full story.