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 10, 1999
ONE LIBERTY PROPERTIES, INC.
(Exact name of registrant as specified in charter)
Maryland 0-11083 13-3147497
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(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
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 516-466-3100
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ITEM 5. - OTHER EVENTS
At a meeting of the Board of Directors of the Registrant held on December 10,
1999, the Board of Directors of the Registrant expanded the number of members of
the Board from five to seven and Matthew Gould and Jeffrey Gould were elected as
Class 3 Directors of the Registrant to serve until the Annual Meeting of
Shareholders to be held in the year 2001, or until their respective successors
have been elected and have qualified. Matthew Gould and Jeffrey Gould are
brothers, and are the sons of Fredric H. Gould, the Registrant's Chairman of the
Board. At the same meeting of the Board of Directors: (1) Matthew Gould resigned
as President and Chief Executive Officer of the Registrant to focus his business
activities on the affairs of Gould Investors L.P., a limited partnership engaged
in the ownership and operation of commercial real estate and in other investment
activities; (2) Fredric H. Gould was designated Chief Executive Officer of the
Registrant in addition to being Chairman of the Board of Directors; (3) Jeffrey
Fishman, previously unaffiliated with the Registrant, was elected President and
Chief Operating Officer; and (4) Matthew Gould was elected a Senior Vice
President. Gould Investors L.P. owns 25.3% of the outstanding Common Stock of
Registrant and 22.8% of the outstanding voting power.
Mr. Fishman (age 41), was President of Britannia Management Services, Inc., New
York, NY from 1987 to 1996 and, from 1996 until his election as President of the
Registrant, was Senior Managing Director of Cogswell Properties, LLC, New York,
NY. Both Britannia Management Services, Inc. and Cogswell Properties, LLC
engaged in the acquisition and management of commercial real estate.
Matthew Gould (age 40) has been President of the Registrant from 1989 until
December 10, 1999. He has been President of Georgetown Partners, Inc., Managing
General Partner of Gould Investors L.P. since March, 1996 (a Vice President of
Georgetown Partners Inc. for more than five years prior thereto) and a Vice
President of BRT Realty Trust, a mortgage real estate investment trust since
1986. He is also a Vice President of Majestic Property Management Corp., engaged
in the management and leasing of commercial real property and a Vice President
of REIT Management Corp., adviser to BRT Realty Trust.
Jeffrey Gould (age 34) has been President and Chief Operating Officer of BRT
Realty Trust since March 1996 and a Trustee since 1997. He was Executive Vice
President and Chief Operating Officer of BRT Realty Trust from March 1995 until
March 1996 and a Vice President for more than five years prior thereto. He is a
Vice President of Georgetown Partners, Inc. and a Senior Vice President of the
Registrant.
Signatures
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 thereunto duly authorized.
ONE LIBERTY PROPERTIES, INC.
By: s/ Mark H. Lundy
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Mark H. Lundy
Secretary
Date: December 21, 1999