NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Listed Company

NENCIK 0000746514NYSEAcceleratedSmaller ReportingOperators Of Apartment BuildingsMassachusettsFY ends Dec 31

Period

FY 2025

Revenue

$89.20M

Net Income

$6.03M

Total Assets

$505.33M

Equity

—

Shares Out

3.11M

Op. Cash Flow

$27.66M

Business

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP is engaged in acquiring, developing, holding for investment, operating and selling real estate. The Partnership owns and manages residential apartment complexes, leased condominium units and commercial properties and provides leasing, property management, development and disposition services through contracted managers. Its operations are organized through multiple Subsidiary Partnerships and limited liability company joint ventures and overseen by a General Partner, an Advisory Committee and a contracted property manager. The Properties are located primarily in the metropolitan Boston area of Massachusetts and nearby New Hampshire and are leased to residential and commercial tenants.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental income	88	80	74	68	62
Laundry and sundry income	795,854	769,586	588,975	733,064	462,862
Total Revenues	89	81	74	68	63
Administrative	3	3	3	3	2
Depreciation and amortization	23	17	17	16	17
Management fee	3	3	3	3	3
Operating	10	8	8	7	6
Renting	1	1	1	639,235	1
Repairs and maintenance	15	13	13	11	10
Taxes and insurance	12	10	10	9	9
Property impairment	400,000	—	971,109	—	—
Total Expenses	68	55	56	50	48
Income Before Other Income (Expense)	21	25	19	18	14
Interest income	2	4	4	1	87
Interest expense	−19	−15	−16	−15	—
Income from investments in unconsolidated joint ventures	1	1	876,233	499,783	−567,308
Total Other Income (Expense)	−15	−10	−10	−14	−17
Net Income	6	16	8	4	−3
Net Income per Unit	51.75	133.83	71.34	30.99	−22.19
Weighted Average Number of Units Outstanding	116,548	117,022	118,500	120,160	121,696

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental Properties	459	279	270	241	251
Real Estate Assets Held for Sale	3	—	—	—	—
Cash and Cash Equivalents	27	18	18	50	96
Rents Receivable	1	1	953,761	655,814	935,303
Real Estate Tax Escrows	3	3	2	2	861,697
Investment in U.S. Treasury Bills	—	84	85	89	—
Prepaid Expenses and Other Assets	11	9	8	8	6
Investments in Unconsolidated Joint Ventures	1	1	1	1	1
Total Assets	505	394	386	392	357
Mortgage Notes Payable	528	406	409	411	370
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture	31	31	27	24	23
Accounts Payable and Accrued Expenses	9	9	6	7	4
Advance Rental Payments and Security Deposits	12	10	10	9	8
Total Liabilities	580	456	451	452	406
Commitments and Contingent Liabilities (Notes 3 and 9)	—	—	—	—	—
Partners' Capital 116,299 and 116,676 units outstanding in 2025 and 2024 respectively	−74	−62	−65	−60	−49
Total Liabilities and Partners' Capital	505	394	386	392	357

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Income	6	16	8	4	−3
Amortization of deferred finance costs	563,269	379,784	379,784	451,937	312,335
Interest Accrued on Treasury Bills	—	206,525	−571,122	−573,483	—
Proceeds from unconsolidated joint ventures	107,500	132,500	139,000	125,000	55,250
(Increase) in rents receivable	−207,292	−267,000	−297,947	279,489	−354,806
(Decrease) Increase in accounts payable and accrued expense	−492,901	511,328	−2	3	436,641
(Increase) in real estate tax escrow	−459,616	−368,370	−286,023	−1	−326,756
(Increase) Decrease in prepaid expenses and other assets	−2	−226,029	83,670	−868,084	−612,666
Increase in advance rental payments and security deposits	2	202,920	964,307	663,083	903,363
Total Adjustments	22	16	16	18	18
Net cash provided by operating activities	28	32	24	22	16
Distribution in excess of investment in unconsolidated joint ventures	2	5	4	1	1
Investment in U.S. Treasury Bills	−31	−181	−176	−178	—
Proceeds from U.S. Treasury Bills	116	182	181	90	—
Improvement of rental properties	−15	−10	−9	−6	−3
Developing of rental property and other related costs	−17	−12	—	—	—
Purchase of rental property	−109	—	−38	—	—
Net cash (used in) investing activities	−54	−17	−39	−93	−2
Payment of financing costs	−2	−225,570	−3,000	—	−179,245
Proceeds of mortgage notes payable	77	—	—	42	89
Principal payments of mortgage notes payable	−22	−3	−3	−2	−2
Stock buyback	−821,186	−2	−4	−5	−450,258
Distributions to partners	−17	−11	−10	−9	−5
Net cash provided by (used in) financing activities	36	−16	−17	25	64
Net Increase (Decrease) in Cash and Cash Equivalents	9	−614,523	−31	−47	77

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