0000000000-22-004188.txt : 20220615 0000000000-22-004188.hdr.sgml : 20220615 20220419123004 ACCESSION NUMBER: 0000000000-22-004188 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20220419 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Safehold Inc. CENTRAL INDEX KEY: 0001688852 STANDARD INDUSTRIAL CLASSIFICATION: LESSORS OF REAL PROPERTY, NEC [6519] IRS NUMBER: 814253271 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 1114 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-930-9400 MAIL ADDRESS: STREET 1: 1114 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: Safety, Income & Growth, Inc. DATE OF NAME CHANGE: 20170209 FORMER COMPANY: FORMER CONFORMED NAME: Safety Income & Growth REIT, Inc. 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Form 10-K for the Fiscal Year Ended December 31, 2021 Filed February 15, 2022 File No. 001-38122 Dear Mr. Asnas: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Form 10-K for the Fiscal Year Ended December 31, 2021 Notes to Consolidated Financial Statements Note 3 - Summary of Significant Accounting Policies Net Investment in Sales-type Leases and Ground Lease Receivables, page 45 1. We note you account for certain ground leases as sales-type leases. Please tell us how you considered the guidance in ASC 842-10-25-2 in your determination that these ground leases shall be classified as sales-type leases. Specifically, please clarify for us which criterion or criteria were met. Brett Asnas Safehold Inc. April 19, 2022 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Frank Knapp, Staff Accountant at (202) 551-3805 or Jennifer Monick, Assistant Chief Accountant at (202) 551-3295 with any questions. FirstName LastNameBrett Asnas Sincerely, Comapany NameSafehold Inc. Division of Corporation Finance April 19, 2022 Page 2 Office of Real Estate & Construction FirstName LastName