[Form 4/A] New England Realty Associates Limited Partnership Amended Insider Trading Activity

Rhea-AI Filing Summary

New England Realty Associates Limited Partnership (ticker: NEN) filed an amended Form 4 reporting a very small disposition of partnership interests by President and Director Ronald Brown on 30-Jun-2025.

• Units sold back to partnership: 0.3 General Partner Units (indirect) and 5.8 Class B Limited Partner Units (direct), coded “J” to indicate the transaction was executed under the partnership’s 2020 equity repurchase program.
• Pricing: The transaction price was disclosed as $2,311.01, derived from the contemporaneous buy-back price of $77.03 per Depositary Receipt (each equal to 1/30th of a Class A Unit).
• Post-trade ownership: Brown retains 291.4 General Partner Units indirectly (via a closely-held corporation of which he owns 75%) and 5,536.1 Class B Units directly, meaning less than 1% of his economic stake was tendered.

The filing signals routine participation in the partnership’s authorized repurchase plan rather than a market sale, and the volumes are immaterial relative to Brown’s overall holdings and to NEN’s total outstanding units.

Positive

• Transaction executed under authorized buy-back, suggesting ongoing capital-return program rather than insider pessimism.

Negative

• Insider unit disposition, even if small, can be construed as mildly bearish by some investors.

Insights

Financial Analyst

TL;DR – Minor insider disposition via buy-back; immaterial impact.

The amended Form 4 documents an extremely small tender of partnership interests (≈0.1% of Brown’s holdings) executed under NEN’s existing repurchase authorization. Code “J” confirms it was not an open-market sale. Because the insider’s remaining position remains substantial and no derivative securities were involved, the transaction is not expected to influence trading sentiment or fundamental valuation. It merely reflects ongoing liquidity provided by the partnership’s buy-back facility.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BROWN RONALD

(Last) (First) (Middle)

NEW ENGLAND REALTY ASSOCIATES LP

39 BRIGHTON AVENUE

(Street)

ALLSTON MA 02134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP [ NEN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
07/03/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
NEN Units of General Partnership Interest	06/30/2025		J(1)		0.3(2)	D	$2,311.01(3)	291.4	I	By Close-Held Corporation
NEN Class B Units of Limited Partnership Interest	06/30/2025		J(1)		5.8	D	$2,311.01(3)	5,536.1	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Pursuant to the Partnership's equity repurchase program, as renewed and reauthorized by the Board of Directors of the General Partner on March 9, 2020 and as further described in the Partnership's Report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2020, the Partnership repurchased 5.8 Class B Units of Limited Partnership Interest directly beneficially owned by the reporting person and 0.3 Units of General Partner Interest from the general partner of the Partnership that are indirectly beneficially owned by the reporting person.

2. Amounts reported represent 75% of the securities owned by the close-help corporation (which corporation is the general partner of the Partnership) based upon the reporting person's 75% equity interest in the corporation.

3. The purchase price of the Units of General Partner Interest was equal to the $77.03 purchase price of the Depositary Receipts (each of which represents one-thirtieth of a Class A Unit of the Partnership) contemporaneously repurchased by the Partnership pursuant to its equity repurchase program.

	/s/ Ronald Brown	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did NEN insider Ronald Brown sell on 30-Jun-2025?

He disposed of 0.3 General Partner Units and 5.8 Class B Limited Partner Units under the repurchase program.

How many NEN units does Ronald Brown still own?

Post-trade, he owns 291.4 General Partner Units (indirect) and 5,536.1 Class B Units (direct).

Was the transaction an open-market sale?

No. Code “J” indicates it was executed through NEN’s equity repurchase program, not on the open market.

What price was paid for the units repurchased?

The filing lists a price of $2,311.01, tied to a contemporaneous repurchase price of $77.03 per Depositary Receipt.

Is the disposition material to NEN shareholders?

Given the very small volume (<1% of Brown’s stake) and programmatic nature, it is not considered material.