Company: NEN
Filing Date: 2025-09-03
Form Type: 8-K/A
Source: 0001104659-25-087096
Chunk: 13

Company: NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
Filing Date: 2025-09-03
Form: 8-K/A
Chunk 13
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 year estimated useful lives for improvements and equipment) 
 as if the Property has been owned for the entire period.  From the purchase price of $175,000,000, the Partnership allocated                  
 approximately $135,870,000 to the building and improvements, approximately $4,714,000 to in-place leases, approximately $305,000 to tenant    
 relationships, $1,165,000 to below market leases, and the remaining balance to land. The value of in-place leases and the value of tenant     
 relationships are amortized over 12 and 36 months respectively, and the below market leases were amortized over twelve months The value       
 of in-place leases and below market leases were fully amortized in unaudited pro forma consolidated income statement for the year ended       
 on December 31, 2024.                                                                                                                         |

| (e) | Management does not                                               
 anticipate any significant change in the Real Estate Tax Expense. |

| (f) | Represents interest                                                                                                             
 expense on a $40,000,000 advance from the Partnership’s Master Credit Facility at a fixed rate of 5.99%, and on a $67,500,000   
 mortgage loan payable at a variable interest rate of SOFR plus 150 basis points (5.8125% at inception of the loan that was used 
 at the rate to calculate interest expense). Future changes to the interest rate  may result in a change                         
 in the interest expense.                                                                                                        |

| (g) | Represents the loss of                                                    
 interest income due to the sale of the Partnership’s U.S. Treasury Bills. |

C. NERA PRO FORMA TAXABLE INCOME

| The pro                                                                                                                           
 forma acquisition of Hill Estates et al would result in an approximately $24,000,000 reduction in the pro forma taxable income of 
 NERA for the most recent available year ended December 31, 2025, or $180.32 per unit or $6.01 per receipt.                        |

D. NERA PRO FORMA CASH AVAILABLE BY OPERATIONS

| The pro                                                                                                                       
 forma acquisition of Hill Estates et al would result in a decrease in pro forma cash available by operations of approximately 
 $26,000,000 or $228.89 per unit or $7.42 per receipt for the most recent available twelve month period.                       |

<div align='center'>SIGNATURES</div>

Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly