Financial Performance - Net income for the six months ended June 30, 2023, was $3,979,341, up from $585,401 in the same period of 2022, reflecting a significant increase of 579.5%[19] - Comprehensive income for the three months ended June 30, 2023, was $2,392,606, compared to $242,985 for the same period in 2022, indicating a year-over-year increase of 884.5%[19] - The company reported a net income per unit of $18.73 for the three months ended June 30, 2023, compared to $2.02 for the same period in 2022, marking an increase of 828.7%[17] - Net income for the three months ended June 30, 2023, was approximately $2,225,000, an increase of approximately $1,982,000 (815.5%) compared to the same period in 2022[190] - Net income for the six months ended June 30, 2023, was approximately $3,979,000, an increase of approximately $3,394,000 (579.8%) compared to the same period in 2022[202] Revenue and Income Sources - Rental income for the three months ended June 30, 2023, was $17,964,963, an increase of 6.8% compared to $16,825,737 for the same period in 2022[17] - Rental income for the six months ended June 30, 2023, was approximately $35,533,000, an increase of approximately $2,248,000 (6.8%) compared to the same period in 2022[193] - Interest income for the six months ended June 30, 2023, was $2,174,177, a significant increase from $61 in the same period of 2022[17] - The Partnership's principal source of cash during the first six months of 2023 was the collection of rents and interest income generated from Treasury Bills[204] Expenses and Liabilities - The company incurred total expenses of $13,362,686 for the three months ended June 30, 2023, compared to $12,321,006 for the same period in 2022, an increase of 8.5%[17] - Total expenses for the six months ended June 30, 2023, were approximately $8.07 million, with depreciation and amortization expenses of $2.93 million[125] - Interest expense for the six months ended June 30, 2023, was approximately $7,825,000, an increase of approximately $747,000 (10.5%) compared to the same period in 2022[195] - Total liabilities as of June 30, 2023, were approximately $172.27 million, with accounts payable and accrued expenses amounting to $1.38 million[124] Assets and Cash Flow - Total assets as of June 30, 2023, were $386,936,754, a decrease from $391,820,280 as of December 31, 2022, representing a decline of approximately 1.9%[14] - Cash and cash equivalents increased to $55,700,166 as of June 30, 2023, from $49,560,723 as of December 31, 2022, representing an increase of 12.5%[14] - The net increase in cash and cash equivalents for the six months ended June 30, 2023, was $6,139,443, a significant decrease from $36,547,519 in the prior year, highlighting changes in cash flow dynamics[205] - Cash provided by operating activities increased to $8,167,083 for the six months ended June 30, 2023, compared to $7,452,286 in 2022, reflecting a positive trend in operational efficiency[205] Property and Investments - The partnership owns 30 properties, including 21 residential buildings and 5 commercial buildings, totaling 2,892 apartment units and 128,635 square feet of commercial space[28] - The Partnership made significant investments in U.S. Treasury bills amounting to $68,355,526 during the six months ended June 30, 2023[25] - The Partnership acquired a commercial retail property for approximately $10,151,000 on January 18, 2023, funded from cash reserves[58] - The Partnership purchased a 52-unit residential property in Boston for approximately $27,500,000 on July 14, 2023[140] Distributions and Returns - Distributions to partners increased to $7,128,758 in 2023 from $6,976,595 in 2022, reflecting a growth in partner returns[25] - A quarterly distribution of $12.00 per Unit ($0.40 per Receipt) was approved and paid on June 30, 2023, alongside a special distribution of $38.40 per Class A unit ($1.28 per Receipt) on March 31, 2023[208] - Total distributions for 2022 amounted to $76.80 per Unit ($2.56 per Receipt), totaling $9,267,981[87] Market and Occupancy Rates - The vacancy rate for residential properties as of August 1, 2023, was 1.8%, down from 2.0% a year earlier[146] - The residential occupancy rate was 98.2% with 51 vacancies out of 2,911 units as of August 1, 2023, compared to a 98.0% occupancy rate with 58 vacancies in the previous year[179] - The commercial vacancy rate significantly improved to 1.3% with 1,461 vacancies out of 128,635 square feet, down from 18.8% with 20,274 vacancies in the previous year[179] Construction and Improvements - Tenant improvements for the six months ended June 30, 2023, were approximately $4,866,000, a significant increase of 346.8% compared to the prior year[155] - The Partnership completed property improvements totaling approximately $4,866,000 during 2023, funded entirely from cash reserves, with significant investments in multiple properties[206] - Hamilton provided approximately $521,000 in construction and architectural services during the six months ended June 30, 2023, compared to approximately $42,000 in the same period of 2022[160]

Financial Performance - Net income for the first quarter of 2023 was $1.75 million, compared to $342,418 in Q1 2022, representing a significant increase of 412.5%[19]. - The company reported a comprehensive income of $1.59 million for the three months ended March 31, 2023, compared to $342,418 in the same period of 2022[19]. - Total revenues for the three months ended March 31, 2023, amounted to $6,223,700, with rental income contributing $4,033,298[126]. - Net loss for the period was $83,365, compared to a net income of $530,511 in the previous year[126]. - The Partnership's net income for the first quarter of 2023 was $82,578, with a net loss of $196,442 for the year-to-date[141]. - Net income for the three months ended March 31, 2023, was $1,754,375, representing a 412.3% increase from $342,418 in Q1 2022[174]. Rental Income - Rental income for the three months ended March 31, 2023, increased to $17.57 million, up 6.7% from $16.46 million in the same period of 2022[17]. - Total rental income for the three months ended March 31, 2023, was $17,568,727, reflecting a 6.7% increase from $16,460,006 in the prior year[174]. - Approximately 94% of rental income for the three months ended March 31, 2023, was derived from residential apartments and condominium units, while 6% was from commercial properties[91]. Assets and Liabilities - Total assets decreased from $391.82 million as of December 31, 2022, to $385.00 million as of March 31, 2023, a decline of approximately 1.9%[14]. - Total liabilities slightly decreased from $451.69 million as of December 31, 2022, to $449.93 million as of March 31, 2023, a decline of about 0.4%[14]. - The Partnership's total liabilities as of March 31, 2023, amounted to $576,510,712, with a fair value of $528,162,409[103]. - The total liabilities of the Partnership stand at $174,096,039, including mortgage notes payable of $166,061,429[125]. Cash Flow and Investments - Cash and cash equivalents decreased from $49.56 million at the beginning of the period to $24.65 million at the end of March 31, 2023, a reduction of 50%[26]. - Cash flows from operating activities for Q1 2023 were $2.38 million, down from $4.58 million in Q1 2022, a decrease of 48%[26]. - The Partnership's cash paid for interest during the three months ended March 31, 2023, was approximately $3,754,000, compared to $3,370,000 for the same period in 2022[96]. - Cash and cash equivalents decreased by $24,906,098 in Q1 2023, primarily due to cash used in investing activities of approximately $20,024,862[185]. Property and Investments - The partnership owns 30 properties totaling 2,892 apartment units and 128,096 square feet of commercial space, with additional interests in 7 residential and mixed-use properties[29]. - The Partnership acquired a commercial retail property for approximately $10,151,000 on January 18, 2023, allocating about $585,000 to in-place leases and $378,000 to tenant relationships, with the lease value amortized over twelve months[56]. - The Partnership has invested approximately $15,925,000 for a 40% interest in Hamilton Park Towers, a 409-unit residential complex, with a total purchase price of $129,500,000[115]. - The total investment in unconsolidated joint ventures is reported as a net loss of $23,808,037[125]. Expenses - Administrative expenses for the period were $74,467, while total operating expenses reached $652,250[126]. - Operating expenses increased by 3.4% year-over-year, totaling $3,936,192[141]. - Repairs and maintenance expenses rose significantly by 21.2% to $2,763,136 in Q1 2023, up from $2,279,651 in Q1 2022[174]. - Total expenses for the three months ended March 31, 2023, were $13,240,321, an increase of 3.4% from $12,803,459 in the prior year[174]. Debt and Financing - The Partnership's mortgage debt totaled $413,513,000 as of March 31, 2023, with a weighted average interest rate of 3.69%[68]. - As of March 31, 2023, the Partnership had approximately $580,000,000 in long-term debt, with a significant portion requiring fixed interest payments[201]. - The Partnership's variable rate debt interest costs would change by approximately $50,000 annually with a 100 basis point increase or decrease in market interest rates[202]. - The fair value of the Partnership's fixed rate debt as of March 31, 2023, would change by approximately $312 million with a 100 basis point change in market interest rates[202]. Distributions - The Partnership approved a quarterly distribution of $9.60 per Unit and a special distribution of $38.40 per Class A unit, both payable on March 31, 2023[84].

Ownership and Investments - As of February 1, 2023, the Partnership owned a 40-50% interest in 7 residential and mixed-use complexes, totaling 688 residential units and one commercial unit[17]. - The Partnership plans to invest approximately $12,500,000 in capital improvements in 2023, following $5,981,000 spent on improvements in 2022[26]. - The Partnership's Advisory Committee reviews the progress of the Partnership and approves certain investments and acquisitions[32]. Financial Distributions - In March 2023, the Partnership approved a quarterly distribution of $9.60 per Unit, along with a special distribution of $38.40 per Class A unit, totaling $9,267,981 in distributions for 2022[18]. Debt and Financing - As of December 31, 2022, the Partnership had approximately $580,739,000 in long-term debt, with variable rate debt of $10,000,000[234]. - The Partnership entered into a Master Credit Facility Agreement with KeyBank for an initial advance of $156,000,000 at a fixed interest rate of 2.97%[20]. - The line of credit agreement was modified to extend the commitment amount to $25 million, with restrictions during the modification period[28]. - If market interest rates on the Partnership's variable rate debt increased or decreased by 100 basis points, the annual interest cost would change by approximately $50,000[234]. Shareholder Transparency - The Partnership has repurchased 1,488,460 Depositary Receipts at an average price of $30.14 per receipt, totaling approximately $50,495,000 including brokerage fees[19]. - The Partnership's website provides access to its annual and quarterly reports, ensuring transparency for shareholders[33].

Washington, D.C. 20549 FORM 10-Q (Mark One) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from to Commission file number 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its charter) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR Massachusetts 04-2619298 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SE ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its charter) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its charter) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its charter) Mass ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its char ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 | Massachusetts | 04-2619298 | | --- | --- | | (State or other jurisdiction of | (I.R.S. employer | | incorporation or organization) | identification no.) | 39 Brighton Ave ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its charter) ...