Company: NEN
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001558370-25-003015
Chunk: 28

Company: NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 28
---
ITEM 3.  LEGAL PROCEEDINGS

The Partnership, the Subsidiary Partnerships, and the Investment Properties and their properties are not presently subject to any material litigation, and, to management’s knowledge, there is not any material litigation presently threatened against them. The properties are occasionally subject to ordinary routine legal and administrative proceedings incident to the ownership of residential and commercial real estate. Some of the legal and other expenses related to these proceedings are covered by insurance and none of these costs and expenses are expected to have a material adverse effect on the Consolidated Financial Statements of the Partnership.

​

ITEM 4.  MINE SAFETY DISCLOSURE

Not applicable. 

​

PART II  

ITEM 5.  MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 

Each Class A Unit is exchangeable, through Computershare Trust Company (“Computershare”) (formerly Equiserve LP), the Partnership’s Depositary Agent, for 30 Depositary Receipts (“Receipts”). The Receipts are listed and publicly traded on the NYSE MKT Exchange under the symbol “NEN.” There has never been an established trading market for the Class B Units or General Partnership Units.

Effective January 3, 2012, the Partnership authorized a 3-for-1 forward split of its Depositary Receipts listed on the NYSE MKT and a concurrent adjustment of the exchange ratio of Depositary Receipts for Class A Units of the Partnership from 10-to-1 to 30-to-1, such that each Depositary Receipt represents one-thirtieth (1/30) of a Class A Unit of the Partnership.

All references to Depositary Receipts in the report are reflective of the 3-for-1 forward split.

Distribution to Limited & General Partners were: 

​​​​​​​​​    2024    2023 Class A—Limited Partners (80%)​$ 8,995,647​$ 7,963,910​Class B—Limited Partners (19%)​  2,136,466​  1,891,429​Class C—General Partner (1%)​  112,446​  99,549​Total​$ 11,244,559​$ 9,954,888​

On March 12, 2025, the closing price on the