N.Y. Real Prop. Acts. Law § 429

§ 429. Restrictions on claims against assurance fund. No person\nshall recover from the assurance fund, or the county or city general\nfund after the assurance fund has been terminated pursuant to section\nfour hundred twenty-six of this article, any greater sum than the fair\nmarket value of the property at the time the right to bring such action\nfirst accrued. Any action or proceeding to recover damages out of the\nassurance fund shall be commenced within six years from the time when\nthe right to begin the same accrued, and not afterward, and such time\nshall not be extended because of any disability.\n