Phase I Environmental Site Assessments (ESA’s)
A Phase I Environmental Assessment is required or recommended for real estate transactions such as a purchase, lease, development, investment, refinance, acquisition for the purpose of due diligence. Phase I Environmental Assessment and Reporting are completed in accordance with generally accepted industry standards and in full conformance with ASTM E-1527-13 Phase 1 Assessment Standard of Practice including All Appropriate Inquiry (AAI).
SEG has performed an extensive number of Phase I ESA on residential and commercial properties for Real Estate clients to evaluate its environmental condition(s) and identify any Recognized Environmental Condition. (RECs) that could be a liability or become a future liability.
SEG provides environmental services to government agencies, property owners, real-estate developers, financial institutions, lending and manufacturing industries.
A transaction screen is a less comprehensive version of a full Phase I ESA which conformers with ASTM 1528-14. The objective of the Environmental Transaction Screen Process is to determine any potential environmental risk that may have an adverse effect on the subject site. The Environmental Transaction Screen is a less costly report which lenders might use for smaller loans.
A Desktop Review is another site screening tool that provides a lender with a brief site history along with known current and past regulatory issues without the time and expense of a site inspection. Clients receive the following information from desktop review in report format, Regulatory Database Report, Review of Historical Documents, SEG’s professional opinion regarding the potential environmental risks associated with the property transaction and recommendations for further investigation if necessary.
SEG performs Property Condition Assessments and Reports for lenders and real estate investors. SEG’s inspectors inspect the subject property in order to understand the condition of the building. A Property Condition Assessment Report is prepared discussing each building system and its condition. The report will discuss the Immediate Repairs Necessary and Future Lifespans/Repairs which helps the clients understand how the condition of the building will impact the assets financial performance.
The Assessment
Phase I Environmental Assessments cover many aspects of the land. It will include:
• A physical visit to the site to determine its current and past uses, as well as that of neighboring properties.
• Examination of its present condition.
• A review of all historical records revealing the past uses of the property. This includes looking at aerial photographs, sanborn history maps, topographic maps and city directories.
• Records from regulatory agencies to locate records on aboveground / underground storage tanks, spills, leaks and other governmental regulatory records.
• Interviews will also be conducted of present and past owners, as well as of neighbors and occupants.
Singer Environmental Group (SEG) conducts Phase I Environmental Assessments for commercial and industrial sites. Our technicians are certified and professional. We serve the New York tri-state area and have been satisfying our clients with their assessment needs since 1987.