Price is right in Williamsburg.

Aries Deitch & Endelson, Inc., specialists in commercial real estate brokerage, management and investments, has announced the $16.3 million sale of residential real estate in the Williamsburg section of Brooklyn, NY to Flatiron Real Estate Advisors, LLC of Manhattan.

Anthony Fernicola, Buccino, LLC of Brooklyn was the seller. Aries Deitch & Endelson, Inc. (AD&E) represented the buyer.

"Over the last few years, Williamsburg has been undergoing a neighborhood transformation," comments Julian Aronin, who with Manny Berger is the AD&E broker responsible for the transaction. "Williamsburg is where Tribeca was fifteen years ago," reports Berger. "Young professionals find it very difficult to lease in Manhattan these days. Williamsburg is undergoing a renaissance. Williamsburg is the place to be." Aronin continues, "We undertook extensive research over a period of several months to locate properties that were ideal for this marketplace.

"Some parts of Brooklyn have recently undergone astonishing changes.

"For families with children, sections such as Red Hook and Coney Island are now impeccably beautiful.

"The price is right in Williamsburg for people starting out in. It's a haven for young people looking to invest in neighborhoods reminiscent of the East Village where friends meet friends on the street, or on the L train when making the half hour commute into Manhattan."

"This is the place to come to if you are looking for real estate investment," Berger reports.

"There are still bargains to be had in areas along the L line, though property in the section's prime areas is moving rapidly."