INWOOD— A 72-unit apartment building in Inwood sold for nearly $12 million, adding another Upper Manhattan property to a New York-based investment firm's growing portfolio.
The six-story building at 10 Park Terrace East, near Isham Park, spans about 81,000 square feet, according to city records.
HF Capital bought the building, with one-, two- and three-bedroom apartments, and rents ranging from about $2,000 to $4,000. It is fully occupied.
The sale comes as Inwood has seen a series of new housing, retail and development projects.
The Eliza, a 174-unit affordable housing development at 4790 Broadway, opened in 2024 with a new two-level branch of the New York Public Library and community facilities.
North Cove, a mixed-income rental development at 375 West 207th Street, added new apartments and ground-floor commercial space.
Food Bazaar signed a 25-year lease for a supermarket at the development, with the store expected to open in 2025.
Other new rental buildings have also arrived in the neighborhood, including Miramar at 407 West 206th Street, Inwood Living at 3880 Ninth Avenue and The Sophia at 5055 Broadway.
Lost Borough Ice Cream opened a second location at 4791 Broadway in June, bringing its small-batch ice cream shop to Inwood.
Taco Mix opened a location at 586 West 207th Street in March.
More development could follow.
The City selected Slate Property Group, Xenolith Partners and Comunilife to develop La Ostra, a proposed project at 4095 Ninth Avenue with about 625 affordable apartments.
The project also calls for housing for seniors, a marine science and science, technology, engineering and math education center and an indoor-outdoor soccer field.
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