The stabbing happened just after 12:30 a.m. on the 4500 block of North 16th Street.
Blood-curdling screams, along with a woman yelling, 'call the police,' were captured on a neighbor's surveillance camera.
Officers found the victim outside his home with stab wounds to his upper body and neck.
"Upon arrival, they located a complainant, an adult male, 47 years old, suffering from 11 stab wounds to his upper body and neck," Capt. John Craig said.
Officers quickly detained the victim's neighbor, identified as 43-year-old James Graham.
"Mr. Graham has currently been arraigned and charged with attempted murder, aggravated assault and related offenses," Craig said.
Police recovered a weapon at the scene. The victim was taken by medics to Albert Einstein Medical Center, where he's currently in critical condition.
Neighbors said they woke to screams.
"The lady I heard screaming and hollering..." resident Steven Goodwin said, later adding, "It's unfortunate and I pray that this fellow pulls through."
Craig said investigators believe the situation began as a brief disagreement.
"From what I understand, this is not an ongoing dispute. This is something that flared up last night," he said. Detectives are still trying to determine what sparked the incident.
"We're not 100% sure what the exact cause of the dispute was. We believe that the dispute was relatively minor, it just turned violent very quickly, leading to the stabbing," Craig said. He also noted investigators are looking into "something with the son of the victim," though the connection is unclear.
Craig urged residents to de-escalate conflicts before they turn dangerous.
"It's just very sad. Obviously, we plead with the public, when you're involved in some sort of verbal dispute, take a step back, take a deep breath... it is not worth this," he said. "Both sides of the families now are deeply impacted by this event."