2 residential projects under construction in midtown east New York City

2 residential projects under construction in midtown east, New York City.

Strong Quarter, Strong Outlook for Apartments

Life is good for apartment investors: Rents are high, vacancies are low and the outlook for the future looks very, very strong, according to second quarter reports from real estate research firms.

Average apartment rents are growing very quickly. Asking rents grew 0.8 percent in the second quarter and 3.2 percent over the last 12 months, according to New York-based data firm Reis Inc.

Effective rents are also very strong. Rents are growing faster than both the

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