SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
under the Securities Exchange Act of 1934
(Amendment No. 3)
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NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
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(Name of Issuer)
Depositary Receipts
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(Title of Class of Securities)
644206104
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(CUSIP Number of Class
of Securities)
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Charles L. Frischer
30 West 63rd Street
Apt 12
New York, NY 10023
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 21, 2007
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover shall not be deemed to
be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
(continued on next page(s)) Page 1 of 7
CUSIP NO. 644206104 13D Page 2 of 7
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Steven A. Berger
I.R.S. I.D. No.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OF 2(f) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
44,487
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 44,487
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
44,487
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 644206104 13D Page 3 of 7
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Charles Frischer
I.R.S. I.D. No.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OF 2(f) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
65,993
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 65,993
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,993
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 644206104 13D Page 4 of 7
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jon Goodman
I.R.S. I.D. No.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OF 2(f) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
1,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,000
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 644206104 13D Page 5 of 7
This Amendment No. 3 amends certain information contained in the Schedule
13D filed jointly by Steven Berger, Charles Frischer and Jon Goodman with
respect to its ownership interest New England Realty Associates Limited
Partnership, a Massachusetts limited partnership (the "Issuer"), on June 14,
2007, as amended (the "13D"). Capitalized terms used but not defined herein have
the meanings ascribed to them in the 13D.
Item 3. Source and Amount of Funds of Other Consideration.
Item 3 is amended by adding the following:
Steven Berger purchased 9,240 Depositary Receipts from October 22, 2007
through December 21, 2007 for an aggregate purchase price of $481,267.40. Mr.
Berger used his personal funds to acquire these Depositary Receipts.
Charles Frischer purchased 4,123 Depositary Receipts from November 17,
2007 through December 5, 2007 for an aggregate purchase price of $442,071. Mr.
Frischer used his personal funds to acquire these Depositary Receipts. Mr.
Frischer also sold 1,900 Depositary Receipts from October 26, 2007 through
November 7, 2007 for an aggregate purchase price of $150,798.
Item 5. Interest of Securities of the Issuer.
Item 5 is amended as follows:
(a) and (b) Beneficial ownership
As of the date of this Amendment No. 3 to Schedule 13D, the Reporting
Persons beneficially owned the respective numbers of Depositary Receipts set
forth below. The percentages set forth below and on the cover pages hereto
represent percentages of the outstanding Depositary Receipts based on a total of
1,314,666 Depositary Receipts outstanding at September 30, 2007 as reported in
the Issuer's Quarterly Report on Form 10-Q for the period ended September 30,
2007.
Reporting Person Number of Depositary Receipts Percentage
---------------- ----------------------------- ----------
Steven A. Berger 44,487 3.4%
Charles Frischer 65,993 5.0%
Jon Goodman 1,000 0.1%
All Members of the Group 111,480 8.5%
By virtue of their status as a "group" for purposes of Rule 13d-5, each of
the Reporting Persons may be deemed to have shared voting and dispositive power
over the Depositary Receipts owned by the other Reporting Persons. Each
Reporting Person disclaims beneficial ownership of the Depositary Receipts owned
by the other Reporting Persons.
CUSIP NO. 644206104 13D Page 6 of 7
Steven A. Berger has sole voting power and sole investment power with
respect to all of the 44,487 Depositary Receipts he beneficially owns.
Charles Frischer has sole voting power and sole investment power with
respect to all of the 65,993 Depositary Receipts he beneficially owns.
Jon Goodman has sole voting power and sole investment power with respect
to all of the 1,000 Depositary Receipts he beneficially owns.
(c) Transactions during the past sixty days
Information with respect to each of the Reporting Persons transactions
effected during the past 60 days are set forth on Annex A hereto.
(d) Right to receive dividends or proceeds
Not applicable.
(e) Beneficial ownership of less than five percent
Not applicable.
Signatures
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Pursuant to Rule 13d-1(k), this Schedule 13D is filed jointly on behalf of
each of the Reporting Persons.
Dated as of: December 27, 2007
/s/ Steven A. Berger
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Steven A. Berger
/s/ Charles Frischer
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Charles Frischer
/s/ Jon Goodman
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Jon Goodman
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).
CUSIP NO. 644206104 13D Page 7 of 7
ANNEX A
Schedule of Transactions in Depositary Receipts of the Issuer
During the Past 60 Days
Steven A. Berger
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Price per Depositary
Date of Transaction Quantity(1) Purchase (P) or Sale (S) Receipt(2)
------------------- ----------- ------------------------ --------------------
10/22/07 100 P $78.08
10/29/07 140 P $77.56
11/19/07 900 P $76.96
11/20/07 400 P $74.52
11/21/07 500 P $73.92
11/28/07 600 P $73.01
12/3/07 500 P $72.75
12/5/07 3,000 P $72.83
12/21/07 400 P $69.75
Charles Frischer
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Price per Depositary
Date of Transaction Quantity(1) Purchase (P) or Sale (S) Receipt(2)
------------------- ----------- ------------------------ --------------------
10/26/07 600 S $77.90
10/31/07 300 S $80.30
11/5/07 400 S $80.70
11/7/07 600 S $79.48
11/17/07 723 P $77.00
12/4/07 300 P $73.00
12/5/07 5,000 P $72.90
(1) All purchases and sales were effected through open market or privately
negotiated transactions.
(2) Inclusive of brokerage commissions