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SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012
Depreciation and Amortization |  |  |
Depreciation and amortization | $ 14,662,000 us-gaap_DepreciationAndAmortization | $ 11,919,000 us-gaap_DepreciationAndAmortization | $ 9,564,000 us-gaap_DepreciationAndAmortization
Deferred Financing Costs |  |  |
Accumulated amortization of deferred financing costs | 4,379,000 us-gaap_AccumulatedAmortizationDeferredFinanceCosts | 3,908,000 us-gaap_AccumulatedAmortizationDeferredFinanceCosts |
Federal Income Taxes |  |  |
Accrued federal excise tax based on taxable income generated but not yet distributed | $ 283,000 olp_FederalExciseTaxAccruedOnUndistributedTaxableIncome | $ 45,000 olp_FederalExciseTaxAccruedOnUndistributedTaxableIncome |
Capital gain distributions (as a percent) | 26.00%olp_CommonStockDividendsCashPaidCapitalGainPercentage | 27.00%olp_CommonStockDividendsCashPaidCapitalGainPercentage |
Commercial properties |  |  |
Depreciation and Amortization |  |  |
Estimated useful life | 40 years |  |

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