Yeah, the same thing happens when you're siphoning gas out of somebody's car. The pressure and gas levels need to equalize.

Edit: A low pressure system causes a sucking effect on the water Which might cause the water to rise 10 ft, also called storm surge. Then again, I'm not sure a difference of a few hundred mb is enough to cause a water head of 10 ft. Yet, at the same time, we're dealing with a hurricane that has a noticeable vortex effect and vortices have been shown to suck a lot more than it should. So it might be likely.

Edit 2: It has more to do with the high winds. The low pressure contributes a little, but it's mostly the winds flowing in a circular pattern that causes a build up of water closer to the eye.