PVEDI completed multiple investigations during our Client’s due diligence period for the acquisition of 750 2nd Avenue. These investigations discovered multiple abandoned underground storage tanks (USTs), one of which leaked, resulting in a NYSDEC spill being reported. The USTs and approximately 35 tons of petroleum-contaminated soil were removed from the site. Post-excavation soil samples revealed no contaminants remaining in the tank graves exceeding State soil cleanup objectives, and spill closure was achieved. During site redevelopment, the Client pursued funding via New York State Homes and Community Renewal (HCR), which required additional environmental testing, including asbestos-containing materials (ACM), lead-based paint (LBP), radon, and mold. PVEDI subcontracted the ACM testing and self-performed the LBP, mold, and radon testing. Abatement/mitigation of these items was performed from 2022 to 2024; minor amounts of LBP and ACM were encapsulated and managed under an Operations and Management Plan. The property was successfully remediated and is currently occupied by tenants.
