Manhattan closings up, prices down

Brokers express cautious optimism

Sales of Manhattan apartments increased while prices fell year-over-year in the fourth quarter of 2009, according to two quarterly market reports.

The number of sales rose 8.4 percent to 2,473 sales from 2,282 sales in the prior year’s fourth quarter, and increased 10.9 percent from 2,230 units in 2009’s third quarter, according to a Manhattan market report prepared by Miller Samuel Real Estate Appraisers for Prudential Douglas Elliman.