Inwood’s Park Terrace West Lofts Sells $3.8M Penthouse as Uptown Buyers Surge

• Park Terrace West Lofts’ penthouse sold for $3.8M on Thursday
• Address: 260 Park Terrace West, Inwood
• Three units in the building sold for more than $2M in the last six months

The Park Terrace West Lofts, a boutique eight-unit condo building at 260 Park Terrace West, has shattered Inwood real estate records by closing its penthouse unit for $3.8 million on Thursday, June 20. According to listing agent Sonia Delgado of Compass, the 2,300-square-foot home features a private rooftop deck with Hudson River views, direct elevator access, and oversized windows facing Isham Park. “We’ve seen open house lines down the block since March,” Delgado told NYC Pulse, attributing the interest to both the property’s size and the rarity of new luxury inventory north of Dyckman.

This sale is the most expensive condo transaction in Inwood’s recent history, outpacing the previous local record by nearly $800,000, according to city property records. In the last six months, two other units in the same building closed for $2.25 million and $2.4 million, as Manhattan buyers priced out of Harlem, Morningside Heights, and the Upper West Side look uptown for more space. “A few years ago, people wouldn’t consider Inwood for a $2M condo, much less $3.8M,” said building resident and board member Michael Rivera. “Now, it’s a destination.”

Rivera reports the building has drawn buyers from Tribeca, Long Island City, and even Brooklyn Heights, many bringing all-cash offers. The Lofts, completed in 2022 by developer Blue North Capital, tout amenities like a fitness room, on-site parking, and proximity to the A and 1 trains. “You get a townhouse vibe with skyline views and the park outside your door,” said Rivera. Demand has caused bidding wars for three of its last four listings.

Citywide, the number of closed condo deals uptown—north of 125th Street—has jumped 38% year over year, per StreetEasy data. While median sale prices in Inwood still hover below $900,000, the Park Terrace West Lofts sale points to a new ceiling for the neighborhood. Local broker Rachel Kim of Bohemia Realty said, “This building set the bar. Expect to see more $2M-plus asks in Inwood by fall.”

Frequently Asked Questions

Where is the Park Terrace West Lofts building located?

The Park Terrace West Lofts are located at 260 Park Terrace West, just north of West 215th Street in Inwood, Manhattan. The building sits between Isham Park and Spuyten Duyvil Creek, a few blocks from the 1 and A subway lines and the Henry Hudson Parkway. Its position offers quick access to parks, express transit, and Inwood’s main retail corridor along Broadway.

How much did the penthouse at Park Terrace West Lofts sell for?

The penthouse at Park Terrace West Lofts closed for $3.8 million on June 20, 2024, making it the most expensive condo ever sold in Inwood. The unit features high-end finishes, three bedrooms, a private rooftop, and panoramic uptown views.

Why are condo prices rising so fast in Inwood?

Condo prices in Inwood are spiking due to limited new luxury inventory, larger square footage relative to downtown, and buyers seeking value compared to Harlem or Upper Manhattan. Proximity to parks, new developments, and the increased accessibility by subway have made Inwood a top destination for city buyers in 2024.