ONE LIBERTY PROPERTIES INC — Director's Dealing 2011

Jan 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ONE LIBERTY PROPERTIES INC (OLP)
CIK: 0000712770
Period of Report: 2011-01-15

Reporting Person: Lovejoy Jesse Robert (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-15	Common Stock	A	1750	—	Acquired	14890	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	228	Indirect
Common Stock	113	Indirect
Common Stock	2241	Indirect

Footnotes

F1: These shares were issued as restricted stock effective as of January 15, 2011, under the issuer's Incentive Plan. The shares vest January 14, 2016. The award is exempt from Section 16(b) under Rule 16b-3(i)(d).

F2: Includes shares obtained through issuer's dividend reinvestment plan.

F3: Shares are held by reporting person as custodian for two of reporting person's children. Reporting person disclaims any beneficial interest of these securities and this report shall not be an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

F4: Shares are held by daughter of reporting person. Reporting person disclaims any beneficial interest of these securities and this report shall not be an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

F5: Shares are held by wife of reporting person. Reporting person disclaims any beneficial interest of these securities and this report shall not be an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.