Inwood 72-unit building sells for $11.75M after a 17-year hold

10 PRK, LLC paid $11.75M for 10 Park Terrace East, a 72-unit Inwood apartment building, in a deed recorded Sept. 24, per the city’s property records. The seller was 10 Park Realty Co., LLC, of Rye, N.Y. The buyer’s address on the deed is care of Tissa Managment in Cedarhurst, N.Y.

Why it matters

The price works out to about $163,194 per unit for a six-story building from 1925 in northern Manhattan. The seller’s ownership goes back to a March 2009 deed, recorded at $0 from an entity called 10 Realty Co., LLC. The record does not say why that transfer carried no price, and we do not characterize it.

That is a 17-year hold, which is rare in a market where multifamily buildings often trade within a decade. The sale ends it. It also hands the new owner a building with a documented maintenance backlog.

The numbers

The deed, signed Sept. 15, carries $11,750,000. A mortgage of about $2.3M was recorded the same day, and a separate agreement document for $8.4M was recorded alongside it. We have not read the instruments, so the lender and the structure of that debt are not confirmed here. The city’s tax-lot file lists 72 residential units and 80,808 sq ft on a 19,375 sq ft lot.

HPD’s open-data file shows 26 open violations: 7 Class A, 11 Class B and 8 Class C. Class C is the immediate-hazard category. The most recent open inspection date is Oct. 3, 2025. HPD’s file counts 202 violations at the address across all years, so the open set is the unresolved part of a long record.

What’s next

The new owner inherits the open violations, which HPD tracks to the building rather than to the seller. Watch for HPD re-inspections and any change in the registration contact, which is where a management change would first appear. For other deals on the city’s record this month, see New York.