New York's Water Wheel complex sold

The Water Wheel Apartments in Montgomery, N.Y., have sold for $8.4 million to a New Jersey-based investor.

Hudson Highlands Properties unloaded the 84-unit property at a per-unit price of $100,000.

At the time of closing, the apartment complex was fully occupied with no deferred maintenance, according to a press statement. The unit mix consists of one- and two-bedroom apartments with 1 1/2 baths in the two-bedroom units and washer and dryers in every unit.

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