Company: OLP
Filing Date: 2025-06-09
Form Type: S-8
Source: 0001213900-25-052678
Chunk: 6

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-06-09
Form: S-8
Chunk 6
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<div align='center'>II-4</div>

Exhibit Index

The following exhibits are filed as
part of this Registration Statement.

| Exhibit 
 Number  
 3.1     
 3.2     |     | Description of Document                                                                                                                                                      
 Articles of Amendment and Restatement of OLP (incorporated by reference to Exhibit 3.1 to our Annual Report on Form 10-K filed on March 12, 2021).                           
 Amended and Restated By-Laws of OLP effective as of December 7, 2022 (incorporated by reference to Exhibit 3.2 to our Current Report on Form 8-K filed on December 7, 2022). |
|:--------|:----|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.1     |     | Opinion of counsel with respect to the legality of the securities being registered.                                                                                          |
| 10.1    |     | One Liberty Properties, Inc.’s 2025 Incentive Plan (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on June 9, 2025).                      |
| 23.1    |     | Consent of counsel (included in the opinion filed as Exhibit 5.1).                                                                                                           |
| 23.2    |     | Consent of Ernst & Young LLP.                                                                                                                                                |
| 24.1    |     | Power                                                                                                                                                                        
 of Attorney (included on the signature page of this registration statement).                                                                                                 |
| 107.1   |     | Filing Fee Table                                                                                                                                                             |

<div align='center'>II-5

SIGNATURES</div>

Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the Village of Great Neck Plaza, State of New York on June 9, 2025.

| ONE LIBERTY PROPERTIES, INC. |                                       |
| By:                          | /s/ Patrick J. Callan, Jr.            |
|                              | Patrick J. Callan, Jr.                |
|                              | President and Chief Executive Officer |

<div align='center'>POWER OF ATTORNEY</div>

KNOW ALL PERSONS BY THESE PRESENTS, that each individual