Company: NEN
Filing Date: 2025-09-03
Form Type: 8-K/A
Source: 0001104659-25-087096
Chunk: 3

Company: NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
Filing Date: 2025-09-03
Form: 8-K/A
Chunk 3
---
5 of the Hill Estates et al, are attached as Exhibit 99.1 to this Amendment and incorporated                                                 
 by reference herein.                                                                                                                                                                           |
|:----|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     | Independent Auditor’s Report                                                                                                                                                                   |
|     | Statement of Revenue and Certain Expenses                                                                                                                                                      |
|     | Statement of Revenue and Certain Expenses for the Year ended December 31, 2024  and the unaudited Statement of Revenue and Certain Expenses for the Three Months ended  March 31, 2025         |
|     | Notes to Statement of Revenue and Certain Expenses for the  Year ended December 31, 2024 and the unaudited Statement of Revenue and Certain Expenses for the Three Months ended March 31, 2025 |
| (b) | UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS — NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP                                                                                      |
|     | The unaudited                                                                                                                                                                                  
 pro forma financial statements of the Partnership for the three months ended March 31, 2025 and for the year ended December 31, 2024,                                                          
 giving effect to the Acquisition and the related financing transactions described therein, are filed as Exhibit 99.2 to this Amendment                                                         
 and are incorporated by reference herein.                                                                                                                                                      |
|     | Unaudited Pro Forma Consolidated Balance Sheet as of March  31, 2025                                                                                                                           |
|     | Unaudited Pro Forma Consolidated Income Statement for the Three Months Ended March 31, 2025                                                                                                    |
|     | Unaudited Pro Forma Consolidated Income Statement for the Year Ended December 31, 2024                                                                                                         |
|     | Notes to Unaudited Pro Forma Consolidated Financial Statements                                                                                                                                 |

| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

<div align='center'>Independent Auditor’s Report</div>

To the Directors and Partners

of New England Realty Associate Limited Partnership

Opinion

We have audited the accompanying statement of
Revenues and Certain Expenses of a mixed-use real property consisting of 396 residential units and 3 commercial units and two additional
non-contiguous commercial properties, all located in Belmont Massachusetts (“Hill Estates et al” or “the Purchased
Property”) for the year ended December 31, 2024 and related notes.

In our opinion, the accompanying statement of revenue and certain
expenses referred to above presents