Item 8.01 Other Events.

As previously announced, One Liberty Properties, Inc. (the "Company") has declared a quarterly dividend of $.22 per share, payable on April 27, 2009 to record holders of March 30, 2009 in stock and in cash, at the election of each stockholder, subject to certain limitations. The Company has filed with the SEC a prospectus supplement relating to shares of common stock that may be issued in payment of the dividend. In connection therewith, the Company has filed as Exhibit 5.1 to this report the opinion of Sonnenschein Nath & Rosenthal LLP as to the legality of the securities.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

(c) Shell Company Transactions.

Not applicable.

(d) Exhibits. The following exhibits are filed with this report.

5.1 Opinion of Sonnenschein Nath & Rosenthal LLP, as to legality of securities.

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ONE LIBERTY PROPERTIES, INC.

By: /s/ Simeon Brinberg Simeon Brinberg Senior Vice President Date: April 8, 2009