<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
       
                      
<PERIOD-TYPE>            6-MOS
<FISCAL-YEAR-END>        DEC-31-1997
<PERIOD-END>             JUN-30-1997
<CASH>                          2085
<SECURITIES>                       0
<RECEIVABLES>                      0
<ALLOWANCES>                       0
<INVENTORY>                        0
<CURRENT-ASSETS>                   0
<PP&E>                             0
<DEPRECIATION>                     0
<TOTAL-ASSETS>                51,486
<CURRENT-LIABILITIES>              0
<BONDS>                       18,318
<PREFERRED-MANDATORY>         13,029
<PREFERRED>                        0

<COMMON>                       1,521
<OTHER-SE>                    16,138
<TOTAL-LIABILITY-AND-EQUITY>  51,486
<SALES>                            0
<TOTAL-REVENUES>               3,133
<CGS>                              0
<TOTAL-COSTS>                      0
<OTHER-EXPENSES>               1,840
<LOSS-PROVISION>                   0
<INTEREST-EXPENSE>                 0
<INCOME-PRETAX>                1,280
<INCOME-TAX>                       0
<INCOME-CONTINUING>            1,280
<DISCONTINUED>                     0
<EXTRAORDINARY>                    0
<CHANGES>                          0
<NET-INCOME>                   1,280
<EPS-PRIMARY>                    .37
<EPS-DILUTED>                    .37