UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549


FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) December 22, 2009


ONE LIBERTY PROPERTIES, INC.
(Exact name of Registrant as specified in charter)
 
Maryland
001-09279
13-3147497
(State or other
(Commission file No.)
(IRS Employer
jurisdiction of
 
I.D. No.)
incorporation)
    
 
60 Cutter Mill Road, Suite 303, Great Neck, New York    11021
 (Address of principal executive offices)                      (Zip code)

516-466-3100
Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 

Item 8.01    Other Events.

As previously announced, One Liberty Properties, Inc. (the “Company”) declared a quarterly dividend of $.22 per share, payable on January 25, 2010 to record holders of December 22, 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.

 
 
 

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:    December 22, 2009
By:
/s/ Simeon Brinberg  
    Simeon Brinberg  
    Senior Vice President