NYC Real Estate Disclosure Checklist | PCDS, Board Package, Condo Rider

Key Information

New York City real estate sales involve a layered disclosure framework: New York State's Property Condition Disclosure Act (Real Property Law § 462) requires a Property Condition Disclosure Statement (PCDS) for most 1-4 unit residential sales — or a $500 credit in lieu of the statement. Co-op sales require a board package reviewed by the cooperative's board of directors, who can reject the sale without cause. Condo sales may require a condo rider to the standard contract and HOA financials disclosure. NYC-specific conditions include flood zone disclosure (post-Hurricane Sandy), lead paint disclosure (pre-1978 construction), and bedbug history disclosure under the NYC Administrative Code. Use this checklist to track NYC-specific disclosures yourself; BuildMyListing covers listing photos, copy, and a photo-alteration disclosure page.

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Time Required: NYC disclosure checklist in minutes

The Problem

NYC real estate disclosures are more complex than most markets: co-op sales require board approval; condos require HOA financials and condo riders; state PCDS law allows a $500 credit in lieu of disclosure (but most NYC agents use the waiver without understanding its implications); and flood zone disclosure is now a material post-Sandy expectation. Most NYC sellers and their agents navigate this piecemeal — missing conditions that create post-close liability.

The Solution

Use this page to work through a complete NYC disclosure checklist — from PCDS waiver analysis to co-op board package requirements to NYC Administrative Code-specific disclosures — so no material condition is omitted before the contract is executed.

Key Features

PCDS / Waiver Analysis Framework

Document the Property Condition Disclosure Statement requirements under New York Real Property Law § 462 — including when the $500 credit-in-lieu waiver is used and what conditions must still be disclosed regardless of PCDS waiver status.

Benefit: PCDS compliance documented — waiver risks understood and managed

Co-op Board Disclosure Package Checklist

Generate the complete co-op board package documentation checklist: financial statements, tax returns, employment verification, reference letters, board questionnaire, and interview preparation guidance.

Benefit: Board-ready buyers identified early — failed transaction risk reduced

NYC-Specific Disclosure Documentation

Generate NYC-specific disclosure items: flood zone status (FEMA and NYC OEM designation), lead paint disclosure (pre-1978 construction), bedbug history statement (NYC Administrative Code § 27-2018.1), and PCB-containing light ballast disclosure (NYC Local Law 76/2010 for older buildings).

Benefit: NYC-specific disclosures that state forms omit — addressed in one workflow

Condo Rider and HOA Financials Framework

For NYC condo sales, generate the disclosure framework covering condo rider requirements, HOA financial statements, reserve fund adequacy, and any known assessments — the conditions most commonly disputed in NYC condo transactions.

Benefit: Condo buyer disclosures complete — HOA conditions transparently documented

How It Works

Select Property Type and NYC Borough

Input property type (co-op, condo, townhouse, 1-4 unit residential), borough, construction year (for lead paint applicability), and flood zone status. Use those details to identify the applicable disclosure checklist.

Generate NYC Disclosure Checklist

Build a complete disclosure checklist — PCDS/waiver, co-op board package (if applicable), condo rider (if applicable), and all NYC-specific disclosure items — tailored to the specific property type and transaction.

Download Complete NYC Disclosure Package

Download the NYC disclosure checklist, documentation templates, co-op board package requirements, and listing copy that transparently presents material conditions — ready for attorney review and transaction management.

Compliance Reference

Disclosure	Legal Basis	Property Type	Timing
Property Condition Disclosure Statement (PCDS)	NY RPL § 462	1-4 unit residential	Before contract execution (or $500 credit)
Lead paint disclosure	42 U.S.C. § 4852d; EPA RRP Rule	Pre-1978 construction	Before contract execution
Flood zone disclosure	Post-Sandy NYC OEM / state guidance	All — coastal and flood zone emphasis	Before contract; recommended in listing
Bedbug history statement	NYC Admin. Code § 27-2018.1	NYC residential buildings	Annual to tenants; on request to buyers
Condo HOA financials / condo rider	NY Gen. Bus. Law § 352-e (condo offering plan)	Condominiums	With offering plan; buyer's right to review
Co-op board application / approval	Cooperative corporation rules (proprietary lease)	Cooperative apartments	Post-contract; board approval required before close

Common Use Cases

Pre-War Manhattan Co-op Sale

Scenario: 2BR pre-war co-op in the UWS. Pre-1978 construction (lead paint disclosure required). Flood zone X (minimal risk). Agent must address PCDS waiver, co-op board package, and lead paint disclosure.

Process: Input property type, construction year, flood zone → Agent prepares PCDS waiver analysis (most NYC co-op sales use the $500 credit in lieu), lead paint disclosure documentation, and full co-op board package checklist → Buyer provided with all disclosures at contract signing

Compliance: NY RPL § 462 PCDS addressed; 42 U.S.C. § 4852d lead paint disclosure provided; co-op board package requirements documented

Brooklyn Condo in Flood Zone AE

Scenario: 1BR condo in a post-Sandy Flood Zone AE area. Building has NFIP flood insurance policy. Unit owners responsible for their own contents and interior coverage. Pre-2015 construction.

Process: Input condo type, Flood Zone AE, building flood insurance status → Agent prepares flood zone disclosure documentation and condo rider framework, and adds the flood zone AE designation and building's NFIP policy to the BuildMyListing MLS description → HOA financials disclosure checklist generated

Compliance: Flood zone AE disclosed in listing and formal documentation; condo rider and HOA financial disclosure framework provided to buyer at contract

Frequently Asked Questions

What is New York's Property Condition Disclosure Act (PCDA)?

New York's Property Condition Disclosure Act (Real Property Law § 462 et seq.) requires sellers of 1-4 unit residential property to provide buyers with a Property Condition Disclosure Statement (PCDS) — a 48-question form covering the property's structural, mechanical, environmental, and legal conditions. If the seller does not deliver the PCDS before the buyer signs the contract, the seller must give the buyer a $500 credit at closing. In practice, many NYC sellers (particularly co-op sellers) use the $500 credit option rather than completing the form. However, the credit does not relieve sellers of their duty to disclose known material defects under common law — the PCDS credit is a statutory alternative, not a liability shield.

Do co-op sellers in NYC need to complete the PCDS?

Co-op sales are technically exempt from the PCDA under Real Property Law § 461(2)(a) — co-ops are personal property (shares + proprietary lease), not real property, so the real property disclosure statute does not technically apply. In practice, many attorneys and agents still use a modified PCDS or letter of disclosures for co-op sales to document known conditions. The co-op board package itself covers many of the same conditions. Consult a licensed New York real estate attorney for the specific disclosure approach appropriate to your co-op transaction.

What NYC-specific disclosures go beyond the standard PCDS?

NYC has several disclosure requirements that supplement or go beyond the standard state PCDS: (1) Bedbug infestation history — NYC Administrative Code § 27-2018.1 requires building owners to maintain bedbug infestation history records and provide a disclosure on request; (2) PCB-containing light fixtures — NYC Local Law 76 of 2010 requires disclosure and remediation of PCB-containing fluorescent light ballasts in pre-1980 buildings; (3) Post-Sandy flood zone disclosure — NYC has strongly encouraged flood zone disclosure since Hurricane Sandy (2012), and flood zone AE and VE status is considered material by the real estate community; (4) C of O status — the Certificate of Occupancy is material in NYC transactions, particularly for brownstones and mixed-use properties where illegal conversions are common.

What is a condo offering plan and when must it be provided to buyers?

A condo offering plan is the legal prospectus filed with the New York State Attorney General that governs the creation and sale of a condominium. For new construction condos, the offering plan (or 'black book') must be provided to buyers before they sign the purchase agreement. For resale condos, buyers have the right to review the offering plan and all amendments, current financial statements, meeting minutes, and house rules. The offering plan is prepared by the condo sponsor's attorney and filed with the NY AG under General Business Law § 352-e. Buyers typically have a right to review and rescind within a specified period.

How does the NYC co-op board approval process work?

After a purchase contract is executed for a co-op, the buyer must complete and submit a board application (board package) for the cooperative corporation's review. The board typically reviews financials, references, and personal information at a board meeting. The board may invite the buyer for an interview. The board can approve, table for more information, or reject the application — typically without providing a reason for rejection, and without the seller or buyer having legal recourse in most cases (absent evidence of illegal discrimination). Board approval timelines vary from 2-6 weeks. The process is a standard condition of all co-op sales in NYC.

Is flood zone disclosure required in NYC?

Under New York State law, flood zone status is one of the 48 questions on the PCDS (Question 24 covers known flooding conditions). Post-Hurricane Sandy (2012), the New York City real estate community and major MLSs (REBNY, OneKey) have strongly encouraged proactive flood zone disclosure as a material condition. FEMA flood zone designations were significantly updated in NYC after Sandy. Properties in Flood Zone AE (100-year floodplain) or VE (coastal high hazard) trigger mandatory flood insurance requirements for federally-backed mortgages and can add $2,000-10,000+ annually in insurance costs. These conditions should be disclosed in the listing, not just at contract.

BuildMyListing provides NYC disclosure checklists — does it provide legal advice on New York real property law?

No. BuildMyListing documents only photo alterations (an alteration log and a public originals page); it does not generate property disclosure forms or checklists. It does not interpret New York Real Property Law, advise on co-op board approval strategies, prepare offering plan analyses, or provide legal guidance on PCDS waiver implications. New York real estate transactions — particularly co-op transactions — involve complex legal questions that vary by property type, borough, and transaction structure. Agents and parties should consult a licensed New York real estate attorney. BuildMyListing provides compliance documentation tools, not legal advice.

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NYC Real Estate Disclosure Checklist — PCDS, Co-op Board Package, and NYC-Specific Requirements