New England Realty (NEN) president reports small unit sales in repurchase

Rhea-AI Filing Summary

New England Realty Associates Limited Partnership president and director Ronald Brown reported small sales of partnership interests tied to the partnership’s equity repurchase program. On 12/31/2025, the partnership repurchased 9.32 Class B Units of Limited Partnership Interest directly beneficially owned by him and 0.49 Units of General Partner Interest indirectly owned through a closely held corporation.

After these transactions, Brown beneficially owned 290.78 Units of General Partner Interest indirectly via the corporation and 5,524.2 Class B Units of Limited Partnership Interest directly. The filing notes that the purchase price for the Units of General Partner Interest was equal to the $69.11 purchase price of depositary receipts contemporaneously repurchased under the same equity repurchase program.

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)
12/31/2025

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

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	12/31/2025		J(1)		0.49(2)	D	$2,073.27(3)	290.78	I	By Close-Held Corporation
NEN Class B Units of Limited Partnership Interest	12/31/2025		J(1)		9.32	D	$2,073.27(3)	5,524.2	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 9.32 Class B Units of Limited Partnership Interest directly beneficially owned by the reporting person and 0.49 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 $69.11 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	01/02/2026
	** 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 insider transaction did NEN report for Ronald Brown?

Ronald Brown, a director and president of New England Realty Associates Limited Partnership, reported that on 12/31/2025 the partnership repurchased units he beneficially owned under its equity repurchase program.

How many New England Realty Associates units did Ronald Brown dispose of?

The partnership repurchased 9.32 Class B Units of Limited Partnership Interest directly owned by Ronald Brown and 0.49 Units of General Partner Interest indirectly owned through the general partner corporation.

What is Ronald Brown’s remaining beneficial ownership in NEN after the transaction?

Following the reported transaction, Ronald Brown beneficially owned 290.78 Units of General Partner Interest indirectly and 5,524.2 Class B Units of Limited Partnership Interest directly.

Was the NEN insider transaction part of an equity repurchase program?

Yes. The units were repurchased under the partnership’s equity repurchase program, which was renewed and reauthorized by the board of directors of the general partner on March 9, 2020.

What price reference is disclosed for the New England Realty Associates units repurchased?

The filing states that the purchase price of the Units of General Partner Interest was equal to the $69.11 purchase price of depositary receipts contemporaneously repurchased by the partnership.

How is Ronald Brown’s indirect ownership in NEN calculated?

The amounts reported for indirect ownership represent 75% of the securities owned by the closely held corporation that is the general partner of the partnership, reflecting Brown’s 75% equity interest in that corporation.