From left: Steven Sladkus, Attorney General Eric Schneiderman and Peter Moulinos

After years of idle discussion about reform, New York Attorney General Eric Schneiderman has enacted major rule changes to the regulation of condominium and co-op escrow disputes. Following the 2008 financial crisis, the office was swamped with hundreds of such disputes, where condo buyers fought developers to get back their deposits on new construction apartments. Now, the agency will require buyers and builders to settle claims in state and federal court, rather than before the agency, The Real Deal has learned. [more]