In a word, yes.
From the Real Estate Board of New York:
Q: Are co-ops exempt from the requirements of the Property Condition Disclosure Act?
A: Yes, co-ops are exempt from the requirements of the Property Condition Disclosure Act (the “Act”). Pursuant to the Act, in sales of “Residential Real Property,” the seller is obligated to deliver the Property Condition Disclosure Form (“PCD”) to the purchaser. The Act defines “Residential Real Property” as “real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons…” Notably, the definition specifically excludes unimproved real property, condos, co-ops, and property in a homeowners’ association not owned in fee simple by the seller.
