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- -------- U.S. SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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<S><C>
1. Name and Address of Reporting Person*
Brown Harold --
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(Last) (First) (Middle)
c/o New England Realty Associates Limited Partnership
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39 Brighton Avenue
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(Street)
Allston, Massachusetts 02134
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol NEWRZ
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3. IRS or Identification Number of Reporting Person if an entity
(Voluntary)
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4. Statement for Month/Year May 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
/ / Director /X/ Officer / / 10% Owner / / Other
(give title below) (specify below)
Treasurer
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. 8) Owned at Direct Bene-
Day/ ------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NEWRZ
Depositary Receipts 05/07/99 6,100 A $10.75 31,100 D
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New England
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Realty Assoc.
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Irrevocable
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Trust
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61,094
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
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FORM 4 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED (e.g., puts, calls, warrants, options, convertible securities)
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<CAPTION>
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1. Title of Derivative 2. Conversion or 3. Transaction 4. Transaction 5. Number of Derivative
Security (Instr. 3) Exercise Price Date Code Securities Acquired (A)
of Derivative (Month/Day/ (Instr. 8) or Disposed of (D)
Security Year) (Instr. 3, 4, and 5)
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
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TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
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6. Date Exercisable 7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature
and Expiration Underlying Securities Derivative Derivative Form of of Indirect
Date (Month/Day/ (Instr. 3 and 4) Security Securities Derivative Beneficial
Year) (Instr. 5) Beneficially Security; Ownership
-------------------------------------------- Owned at End Direct (D) or (Instr. 4)
Date Expira- Amount or of Month Indirect (1)
Exer- tion Title Number of (Instr. 4) (Instr. 4)
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
/s/ Harold Brown June 3, 1999
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** Signature of Reporting Person Date
