Prudential Serls Prime Properties Commercial Group brokered the sale of a 116-unit garden-style apartment community for $10.2 million.
The community, Colonial Manor located on Creek Rd., was purchased from Colonial Manor Condominiums of LaGrange by Tim and Maureen Foley.
Steven Salomone of Prudential Serls represented the seller and Walt Finnerman of CIPCO Realtors, affiliated with the Commercial Group, were the brokers of the deal.
"Interest in this property was strong, driven by a healthy Dutchess County vacancy rate for residential rentals of 3.5%," said Salomone. "The sale represents the continuing strong interest in Dutchess and validates that the commercial market remains healthy given the down national economy." Tags: