<ARTICLE>               5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE CONSOLIDATED BALANCE SHEET AND STATEMENT OF OPERATIONS
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK>                   0000712770
<NAME>                  ONE LIBERTY PROPERTIES, INC.
<MULTIPLIER>            1000
       
                                          
<FISCAL-YEAR-END>                            DEC-31-1996
<PERIOD-END>                                 MAR-31-1996
<PERIOD-TYPE>                                3-MOS  
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<PP&E>                                                 0
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<CURRENT-LIABILITIES>                                  0  
<BONDS>                                            6,569
<COMMON>                                           1,439
<PREFERRED-MANDATORY>                             12,835
<PREFERRED>                                            0
<OTHER-SE>                                        16,272
<TOTAL-LIABILITY-AND-EQUITY>                      38,076
<SALES>                                                0
<TOTAL-REVENUES>                                   1,094
<CGS>                                                  0
<TOTAL-COSTS>                                          0
<OTHER-EXPENSES>                                     518
<LOSS-PROVISION>                                       0
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<INCOME-PRETAX>                                      576
<INCOME-TAX>                                           0
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<DISCONTINUED>                                         0
<EXTRAORDINARY>                                        0
<CHANGES>                                              0
<NET-INCOME>                                         576
<EPS-PRIMARY>                                        .15
<EPS-DILUTED>                                        .15