Oil tank horror stories, NYC
A leaking commercial old tank could cost you everything.
Attention NYC building owners, don’t be like this guy.
My client from a couple years ago found me online and wanted help with lowering his heating building. I gave him many suggestions and he never committed to any improvements because he was always crying about his property not returning any profit because of high energy costs and decades of mis-management mistakes.
Now, every single NYC buildings owner I have ever met have all said they ave no money, but that is neither here or there.
So, this client got killed the year before I started consulting, with extremely high heating systems costs. He spent 200k on #6 oil last year, tens of thousands more on emergency shut downs/ chimney cleaning during the middle of the night. 28k on an emergency boiler repair for a dozen failing blast tubes, plus more money to angry tenants for free MP3’s and ipads so they wouldn’t call the city. The building is in such bad shape its only about 40-60% rented as the other areas of the building are under construction. It’s fair to say this building owner is in a real jam, and I 100% believe there is no profit being mad at all on the building.
The property management company running the building for 50 years, went with the lowest priced guys for every aspect of the heating systems maintenance, cleaning, repair etc. Some how the property management company didn’t realize the buildings oil tank is leaking on top of all the other problems, or pretended not to know.
However costs with heating a building is nothing compared to fines, penalties and clean up costs if an old oil tank is leaking and contaminating the soil.
Commercial oil tank replacement evaluation services, NYC
(Pictured below) is a building I’ve worked on in the past. The building owner was extremely frugal and refused to replace the oil tank. 6 months later a maditory DOB/ fire saftey inspection lead to a $30,000 dollar fine from the EPA, and forced the building owners to invest in the oil tank anyway. We could have taken care of the entire oil tank room for $28,000 and instead the building owners spent 30k on fines, 10k on soil removal, 10k on disposing the contaminated soil, and the still had to spend 28k for the new oil tank room. The building owner would have saved $50,000 and weeks of headaches if he allowed the job to be completed correctly when we told him it was critically important to do so! It’s frustrating when building owners don’t take our advice, and everything we warned them about comes true.
If you think your old NYC property isn’t very profitable now because of it’s out of date boiler. You likely have an old oil tank as well. If you have a #6 or #4 oil tank with visual signs of leaking, or signs it will be soon, a costly nightmare is on the horizon. You cannot stop mandatory site inspections, and the DOB is dropping the hammer on building owners not in compliance.
Leaking oil tanks lead to fines of $20,000- $50,000 and up, from the EPA and another 5,000-100,000+ in environmental clean up fees and contaminated soil disposal/ processing.
If you have an old leaking oil tank, when you wait to replace it, you are risking much more than you possible can imagine. Let us help you take care of problems before they turn into nightmares.
Need someone to give you an honest opinion on your oil tank’s longevity? Contact us.