Investigations are continuing into the incident in Exeter's Sidwell Street yesterday - which led to a large area being cordoned off.
The drama began with a disturbance at a flat above a charity shop - where an 18 year old man was seen on the balcony in an agitated state, with serious arm injuries.
Police eventually forced entry and found a 56 year old man with life-threatening injuries.
Both men are now in hospital - the 18 year old is also under arrest suspected of assault causing grievous bodily harm, and affray.
House to house enquiries are continuing along with forensic investigation at the flat - anyone with information on what happened there is asked to call the police or Crimestoppers.
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