Item 8.01 Other Events.

As previously announced, One Liberty Properties, Inc. (the "Company") declared a quarterly dividend of $.22 per share, payable on October 30, 2009 to record holders of September 25, 2009 in stock and in cash, at the election of each stockholder, subject to certain limitations. The Company has filed with the Securities and Exchange Commission 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.

(d) Exhibits.

5.1 Opinion of Sonnenschein Nath & Rosenthal LLP.

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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.

Date: September 29, 2009 By: /s/ Simeon Brinberg Simeon Brinberg Senior Vice President

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