There is extensive deforestation within its limited distribution within the northern Andes of Colombia and Ecuador, and with less than 10 known specimens,[1] it is probably the rarest carnivoran in South America.

[4] The species was formerly only known from specimens until the first photo of a living individual was taken in 2011 by an amateur naturalist who found one trapped in his parents' house; the weasel subsequently escaped to the outdoors.

The soles of the feet lack any fur, and extensive webbing is located on the second, third, and fourth digits, suggesting a semi-aquatic lifestyle.

From geographic modeling, and collected specimens it has been concluded that Neogale felipei lives in largely riparian habitats, primarily staying close to rivers, streams, and along the shorelines of other natural water sources.

However, due to rarity of sighting, and deforestation of known habitat it remains unclear as to the true numbers of individuals that make up the population.