PHASE I ENVIRONMENTAL SITE ASSESSMENT
Phase I Environmental NYC Site Assessment
Phase I Environmental Site Assessment, often called ESA or Phase I ESA, is a report and assessment conducted for a real estate holding to figure if any current or historical use of a property has created or can potentially create contamination liabilities which could be detrimental to the environment as well as human health. This applies to the underlying lands (soil), physical improvements to the property as well as the groundwater beneath the property.
Any issues discovered could create a potential liability for the lender and/or owner and could affect the valuation of the property.
When do you need a Phase I ESA?
As per the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA, commonly known as Superfund), the owner of a contaminated property, is legally required to clean it up.
But what if you buy a property which was already contaminated, well that is what a Phase I ESA is for. If you are buying a site, or in the process of refinancing, make sure you conduct a Phase I ESA on it first, as per AAI standards (All Appropriate Inquiry Standards). A Phase I ESA can be conducted on all kinds of sites may it be agricultural, industrial, commercial, residential, family-owned, multi-family, agricultural or even vacant land.
We have trained Environmental Professionals, “EP” who are qualified to conduct Phase I ESAs, that comply with ASTM E1527-13.
What does a Phase I Environmental NYC ESA include?
- A site inspection, of the interior and exterior of the property, and also adjacent properties.
- An interview with the current and past owners of the property, operators, occupants, and those familiar with the site.
- A thorough inspection of the presence or storage of hazardous chemicals, fuel tanks, petroleum, any soil stains, site activities and disposal of hazardous wastes etc.
- A thorough review of historical records, such as historical aerial photographs, fire insurance maps, historical city directories and historical topographic maps.
- A review of governmental environmental records as well as any state and local agency records.
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