Company: OLP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001104659-25-107784
Chunk: 4

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part II, Item 1
Chunk 4
---
Item 1. Legal Proceedings

​

On October 30, 2025, in connection with the sale of the Beachwood, Ohio property, we entered into an agreement pursuant to which we are to receive $1.3 million in connection with the settlement of the lawsuit captioned Eastgate LLC, et al. v. OLP Beachwood OH LLC, more fully described in our Annual Report on Form 10-K for the year ended December 31, 2024 under the caption “Item 3. Legal Proceedings”. We expect to receive the settlement proceeds in November 2025.

​

Item 5. Other Information

​

Disclosure of 10b5-1 Plans

​

None of our officers or directors had any contract, instruction, or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” in effect at any time during the three months ended September 30, 2025. 

​

Impact of the One Big Beautiful Bill Act on the Company and its Stockholders

​

The discussion under " Federal Income Tax Considerations" in our prospectus dated September 1, 2023, as the same may have been amended or supplemented form time-to-time (the “Prospectus”), is hereby modified to reflect legislation commonly referred to as the One Big Beautiful Bill Act. Capitalized terms used in this section without being defined herein shall have the meanings ascribed to them by the Prospectus.

​

Enactment of the One Big Beautiful Bill Act: On July 4, 2025, legislation commonly referred to as the One Big Beautiful Bill Act (the “OBBBA”) was enacted into law. Among other changes, the OBBBA included a number of changes to the Code that affect the U.S. federal income tax laws applicable to REITs and their security holders. The most significant of those changes are described below. Prospective investors should consult their tax advisors regarding the effects of the OBBBA on their investment.

​

REIT Asset Tests: The OBBBA increases the ownership limit applicable to TRSs for taxable years ending after December 31, 2025. For taxable years ending after December 31, 2017 through December 31, 2025, not more than 20% of the value of our total assets may be represented by securities of one or more TRSs.  For taxable years