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70-20 108th St UNIT 1OU
Forest Hills, NY

70-20 108th St UNIT 1OU

$569,000
2 bd • 1 ba • 0 sf

This analysis was generated by artificial intelligence on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$569,000

Price/Sq.Ft

$Infinity

Year Built

1962

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This luxurious 2-bedroom coop unit in The Continental offers exceptional value and amenities in the heart of Forest Hills. Located on the 10th floor, it boasts abundant natural light and high-end finishes. The chef's kitchen features European-style cabinets, quartz countertops, and energy-star appliances, while the living space is equipped with smart home technology. The property's location is stellar, with a walk score of 92, putting it in the heart of diverse dining and shopping options. The building itself offers premium amenities including a 24-hour doorman, valet parking, and a sun deck. At $569,000, it's priced competitively for the area, especially considering the recent renovations and luxury features. The minimal flood risk (1/10) is significantly better than many properties in NYC, potentially leading to lower insurance costs.

The Bad

The coop structure comes with restrictions, including a stringent 35% minimum down payment requirement, which may limit the pool of potential buyers. The unit lacks square footage information, making it challenging to assess the price per square foot and compare it directly to market averages. With 153 days on the market, it's selling slower than the Forest Hills average of 76 days, which could indicate overpricing or limited buyer interest. The single bathroom may be a drawback for some buyers, especially in a two-bedroom unit. The pet policy allowing only cats may deter dog owners or those with other pets.

The Ugly

The severe heat risk (7/10) is concerning, with 7 extremely hot days per year and temperatures reaching 99°F. This could lead to higher cooling costs and potential discomfort. The major wind risk (6/10) is classified as critical for insurance, which may result in higher premiums or difficulty obtaining coverage. The air quality risk is moderate (4/10) with 6 bad air days per year, which could be a health concern for sensitive individuals. The coop board application and interview process can be rigorous and potentially invasive for some buyers. Lastly, the lack of information on monthly maintenance fees is a significant oversight, as these can substantially impact the total cost of ownership in a coop.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for professionals or couples with a household income of at least $190,000 (based on the 35% down payment requirement and estimated monthly costs). It's perfect for those who prioritize a luxurious, low-maintenance lifestyle with premium amenities and easy access to Manhattan. The unit would suit buyers who value modern finishes, smart home technology, and a prime location near diverse urban amenities. It's also appropriate for those looking to downsize from larger homes but still want spacious bedrooms and high-end features.

Not For

This property is not suitable for first-time homebuyers or those unable to meet the 35% down payment requirement. Families with children might find the two-bedroom, one-bathroom layout restrictive. Dog owners or those with pets other than cats will need to look elsewhere due to the pet policy. Investors looking for rental properties may find the coop structure and potential restrictions on subletting limiting. Those sensitive to heat or concerned about climate risks may want to consider properties with lower heat and wind risk scores.
Demographics
Area Median Income

$96,321

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Risk Assessment

Climate Risks

heatSEVERE

7 extreme heat days per year

98th percentile: 99°F

windMAJOR

Insurance: Required

airMODERATE

6 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

The severe heat risk (7/10) and major wind risk (6/10) could lead to increased insurance costs and potential property damage. The coop structure comes with financial risks, including the potential for special assessments or increases in monthly maintenance fees. The lack of information on current maintenance costs is a red flag that needs to be addressed before purchase. The property's extended time on the market (153 days) suggests potential issues with pricing or demand, which could affect future resale value. The rigorous coop board approval process introduces uncertainty and potential delays in closing. Lastly, while currently minimal, changing climate patterns could exacerbate flood and fire risks in the future.
Insurance
Annual Cost

$2,048

$171 per month

Financials

Monthly Costs
Market Rent (2 bed)

$3,150

Get a detailed rental estimate on Zillow®
HOA Fee

$1,250

Price History

Location & Comparables

Subject Property
View on Zillow

Frequently Asked Questions

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