N.Y. Pers. Prop. Law § 257

§ 257. Title to lost property. 1. The title to lost property which has\nbeen deposited with the police shall vest in the finder, or other person\nentitled to assert the rights of the finder as provided in section two\nhundred fifty-six of this chapter, when the property is delivered to him\nin accordance with section two hundred fifty-four of this chapter and\nshall vest in the buyer when the property is sold as provided in section\ntwo hundred fifty-three or two hundred fifty-four of this chapter.\n 2. If the finder of lost property under the value of ten dollars has\nmade reasonable effort to find the owner and restore it to him, and has\nbeen unable to do so, the title to such property shall vest in the\nfinder at the end of one year after the finding.\n