-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001179110-10-011160.txt : 20100701
<SEC-HEADER>0001179110-10-011160.hdr.sgml : 20100701
<ACCEPTANCE-DATETIME>20100701151659
ACCESSION NUMBER:		0001179110-10-011160
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100629
FILED AS OF DATE:		20100701
DATE AS OF CHANGE:		20100701

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:		10930625

	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>2010-06-29</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 Class B Units of Limited Partnership Interest</value>
            </securityTitle>
            <transactionDate>
                <value>2010-06-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>42.3</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>659</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>18736.60</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to the Partnership's equity repurchase program, as renewed and reauthorized by the Board of Directors of the General Partner on March 22, 2010 and as further described in the Partnership's Report on Form 8-K filed with the Securities and Exchange Commission on March 23, 2010, the Partnership repurchased 42.3 Class B Units of Limited Partnership Interest directly beneficially owned by the reporting person.</footnote>
        <footnote id="F2">The purchase price of the Class B Units was equal to the $65.85 purchase price of the Depositary Receipts (each of which represents one-tenth of a Class A Unit of the Partnership) contemporaneously repurchased by the Partnership pursuant to its equity repurchase program.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Sally E. Michael, Co-Trustee</signatureName>
        <signatureDate>2010-07-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
