-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0001181431-05-044363.txt : 20050803
<SEC-HEADER>0001181431-05-044363.hdr.sgml : 20050803
<ACCEPTANCE-DATETIME>20050803211444
ACCESSION NUMBER:		0001181431-05-044363
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050209
FILED AS OF DATE:		20050803
DATE AS OF CHANGE:		20050803

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:			Mercury Special Situations Offshore Fund Ltd
		CENTRAL INDEX KEY:			0001301276

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997440

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 3460 RD TOWN
		CITY:			TORTOLA BVI
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		284-494-5239

	MAIL ADDRESS:	
		STREET 1:		P O BOX 3460 RD TOWN
		CITY:			TORTOLA BVI
		STATE:			E9
		ZIP:			00000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mercury Mayfair LLC
		CENTRAL INDEX KEY:			0001329733
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997441

	BUSINESS ADDRESS:	
		STREET 1:		100 FIELD POINT ROAD
		STREET 2:		FIRST FLOOR
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		203 769 2990

	MAIL ADDRESS:	
		STREET 1:		100 FIELD POINT ROAD
		STREET 2:		FIRST FLOOR
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mercury Real Estate Securities Fund LP
		CENTRAL INDEX KEY:			0001303345

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997442

	BUSINESS ADDRESS:	
		STREET 1:		100 FIELD POINT ROAD
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		203-769-2980

	MAIL ADDRESS:	
		STREET 1:		100 FIELD POINT ROAD
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mercury Securities II LLC
		CENTRAL INDEX KEY:			0001329735
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997443

	BUSINESS ADDRESS:	
		STREET 1:		100 FIELD POINT ROAD
		STREET 2:		FIRST FLOOR
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		203 769 2990

	MAIL ADDRESS:	
		STREET 1:		100 FIELD POINT ROAD
		STREET 2:		FIRST FLOOR
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mercury Special Situations Fund L P
		CENTRAL INDEX KEY:			0001301328

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997444

	BUSINESS ADDRESS:	
		STREET 1:		100 FIELD POINT RD
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		203-769-2980

	MAIL ADDRESS:	
		STREET 1:		100 FIELD POINT RD
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MacLean Malcolm F IV
		CENTRAL INDEX KEY:			0001318129

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997445

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(203) 869-9191

	MAIL ADDRESS:	
		STREET 1:		C/O MERCURY REAL ESTATE ADVISORS LLC
		STREET 2:		100 FIELD POINT ROAD
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Jarvis David R
		CENTRAL INDEX KEY:			0001318128

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31568
		FILM NUMBER:		05997446

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(203) 869-9191

	MAIL ADDRESS:	
		STREET 1:		C/O MERCURY REAL ESTATE ADVISORS LLC
		STREET 2:		100 FIELD POINT ROAD
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
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<DESCRIPTION>FORM 3
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<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2005-02-09</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001318128</rptOwnerCik>
            <rptOwnerName>Jarvis David R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001318129</rptOwnerCik>
            <rptOwnerName>MacLean Malcolm F IV</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
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            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001301328</rptOwnerCik>
            <rptOwnerName>Mercury Special Situations Fund L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001329735</rptOwnerCik>
            <rptOwnerName>Mercury Securities II LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001303345</rptOwnerCik>
            <rptOwnerName>Mercury Real Estate Securities Fund LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001329733</rptOwnerCik>
            <rptOwnerName>Mercury Mayfair LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001301276</rptOwnerCik>
            <rptOwnerName>Mercury Special Situations Offshore Fund Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MERCURY REAL ESTATE ADVISORS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>100 FIELD POINT ROAD</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>138600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F3"/>
                <footnoteId id="F4"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>138600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86200</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F6"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86200</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F7"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36700</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F8"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>300</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Depositary Receipts</value>
                <footnoteId id="F9"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>300</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F9"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These depositary receipts are held directly by the Funds (as defined in the footnotes below) and certain other managed accounts (the &quot;Managed Accounts&quot;).  Mr. David R. Jarvis is a managing member of Mercury Real Estate Advisors LLC (&quot;Advisors&quot;), a registered investment adviser.  Advisors provides investment advisory services to the Funds and Managed Accounts.  Mr. Jarvis disclaims beneficial ownership of the depositary receipts held directly by the Funds and Managed Accounts, except to the extent of the pecuniary interest, if any, in such depositary receipts that may result from his membership interest in Advisors, which has a contingent right to receive a performance-based advisory fee from each of the Funds and Managed Accounts. (Continued in Footnote 2)</footnote>
        <footnote id="F2">That performance-based fee qualifies for the exemption set forth in Rule 16a-1(a)(2)(ii)(C) except in the limited circumstances where an investor in a Fund or Managed Account joins or withdraws from such Fund or Managed Account, as applicable.  Mr. Jarvis also is a managing member of Mayfair and MS II LLC (as defined in the footnotes below).  Mr. Jarvis disclaims beneficial ownership of the depositary receipts held directly by MRES and MSSF (as defined in the footnotes below), except to the extent of the pecuniary interest, if any, in such depositary receipts that may result from his membership interest in Mayfair and MS II LLC.</footnote>
        <footnote id="F3">These depositary receipts are held directly by the Funds and Managed Accounts.  Mr. Malcolm F. MacLean IV is a managing member of Advisors.  Mr. MacLean disclaims beneficial ownership of depositary receipts held directly by the Funds and Managed Accounts, except to the extent of the pecuniary interest, if any, in such depositary receipts that may result from his membership interest in Advisors, which has a contingent right to receive a performance-based advisory fee from the Funds and Managed Accounts.  That performance-based fee qualifies for the exemption set forth in Rule 16a-1(a)(2)(ii)(C) except in the limited circumstances where an investor in a Fund or Managed Account joins or withdraws from such Fund or Managed Account, as applicable. (Continued in Footnote 4)</footnote>
        <footnote id="F4">Mr. MacLean also is a managing member of Mayfair and MS II LLC.  Mr. MacLean disclaims beneficial ownership of the depositary receipts held directly by MRES and MSSF, except to the extent of the pecuniary interest, if any, in such depositary receipts that may result from his membership interest in Mayfair and MS II LLC.</footnote>
        <footnote id="F5">These depositary receipts are held directly by Mercury Special Situations Fund LP (&quot;MSSF&quot;).</footnote>
        <footnote id="F6">These depositary receipts are held directly by MSSF.  Mercury Securities II LLC (&quot;MS II LLC&quot;) is the general partner of MSSF.  MS II LLC disclaims beneficial ownership of these depositary receipts except to the extent of the pecuniary interest, if any, in such depositary receipts that may result from its partnership interest in MSSF.</footnote>
        <footnote id="F7">These depositary receipts are held directly by Mercury Special Situations Offshore Fund, Ltd. (&quot;MSSOF&quot;).</footnote>
        <footnote id="F8">These depositary receipts are held directly by Mercury Real Estate Securities Fund LP (&quot;MRES&quot;, and together with MSSF and MSSOF, the &quot;Funds&quot;).</footnote>
        <footnote id="F9">These depositary receipts are held directly by MRES.  Mercury Mayfair LLC (&quot;Mayfair&quot;) is the general partner of MRES.  Mayfair disclaims beneficial ownership of these depositary receipts except to the extent of the pecuniary interest, if any, in such depositary receipts that may result from its partnership interest in MRES.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jarvis David R</signatureName>
        <signatureDate>2005-08-03</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ MacLean Malcolm F IV</signatureName>
        <signatureDate>2005-08-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
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-----END PRIVACY-ENHANCED MESSAGE-----
