-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Grj10yNF3jWLD0Mr1HTVVZoGPVgVEO3zXagY8uH+f5ut4WPAP5o9Ka4cebylybnC
 qEReumfoozVa+Yx6yOB8PQ==

<SEC-DOCUMENT>0001179110-08-012785.txt : 20080626
<SEC-HEADER>0001179110-08-012785.hdr.sgml : 20080626
<ACCEPTANCE-DATETIME>20080626134543
ACCESSION NUMBER:		0001179110-08-012785
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080624
FILED AS OF DATE:		20080626
DATE AS OF CHANGE:		20080626

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
		CENTRAL INDEX KEY:			0000746514
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF APARTMENT BUILDINGS [6513]
		IRS NUMBER:				042619298
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		39 BRIGHTON AVE
		CITY:			ALLSTON
		STATE:			MA
		ZIP:			02134
		BUSINESS PHONE:		6177830039

	MAIL ADDRESS:	
		STREET 1:		39 BRIGHTON AVE
		CITY:			ALLSTON
		STATE:			MA
		ZIP:			02134

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NERA 1994 IRREVOCABLE TRUST
		CENTRAL INDEX KEY:			0000935694
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		08918948

	BUSINESS ADDRESS:	
		STREET 1:		C/O LANE AITMAN & OWENS
		STREET 2:		101 FEDERAL ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6173459800

	MAIL ADDRESS:	
		STREET 1:		C/O LANE AITMAN & OWENS
		STREET 2:		101 FEDERAL STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-06-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000746514</issuerCik>
        <issuerName>NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP</issuerName>
        <issuerTradingSymbol>NEN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000935694</rptOwnerCik>
            <rptOwnerName>NERA 1994 IRREVOCABLE TRUST</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NEW ENGLAND REALTY ASSOCIATES LP</rptOwnerStreet1>
            <rptOwnerStreet2>39 BRIGHTON AVENUE</rptOwnerStreet2>
            <rptOwnerCity>ALLSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02134</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>NEN Depositary Receipts</value>
            </securityTitle>
            <transactionDate>
                <value>2008-06-24</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2008-06-26</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1438</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>74.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>266166</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 243,807 Depositary Receipts previously reported as indirect holdings of Harold Brown, a director of the issuer who is the grantor of the reporting person, in Mr. Brown's previously filed Section 16 beneficial ownership reports.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Sally E. Michael, Co-Trustee</signatureName>
        <signatureDate>2008-06-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----