AMEX exec buys from lawyer in Lower Manhattan

Lior Aldad sold Unit #3B in the Croft Building at 71 Nassau St. in Lower Manhattan for $695,000 to Ryan D. Norine on July 1.

Aldad paid $595,000 for the property in May 2006.

Aldad is a principal at Aldad & Associates, a law practice he established in 1996 in New York City. He specializes in real estate law, mortgage closings, commercial landlord/tenant matters and civil litigations. In addition, Aldad is a New York state licensed real estate broker and a licensed mediator.

He has previously worked for two other firms in New York City.

Aldad received his bachelor's degree in business administration and finance from Adelphi University's Business School and his J.D. from the Jacob D. Fuchsberg Law Center.

Norine has been a director of commercial card reporting product management at American Express.

University of Minnesota Carlson School of Management graduate had previously held a handful of posts with the company.

The 16-story Croft Building was built in 1905 and renovated in 2006. Unit 3B is one of its 52 apartments.

Sales in the Croft Building are down 89.5 percent from 2006 to 2007. The median sales price, however, rose from $830,000 to $1.075 million during the same year.

Condo sales in Wall Street/Lower Manhattan were down 29.6 percent in 2007 versus sales in 2006. The median sales price, however, was up 19.4 percent from $735,000 in 2006 to $878,000 last year.

Address: 71 Nassau Street, Unit: 3b
Buyer(s): Cohen and Jacob M
Seller(s): Norine and Ryan D
Sale date: Dec. 6, 2012