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NEW PALTZ, N.Y. — Kempner Properties, an investment firm based in metro New York City, has acquired Paltz Commons, a 36-unit multifamily property in New Paltz, located roughly midway between Albany and New York City. Built in 1966, the garden-style property consists of three buildings and was fully occupied at the time of sale. The new ownership plans to implement a value-add program focused on improving the unit interiors, common areas, building exteriors and landscaping.