Exhibit 21.1

Name of Entity	State of Formation
1000 E Apache Blvd Ground Owner LLC	Delaware
1000 South Clark Ground Owner LLC	Delaware
1001 South Center Street Ground Owner LLC	Delaware
1007 South Congress North Unit Ground Owner LLC	Delaware
101 S Federal Highway Ground Owner LLC	Delaware
102 A Philip Randolph Blvd Ground Owner LLC	Delaware
102 Madison Avenue Ground Owner LLC	Delaware
106 Ridge Street Equity Member LLC	Delaware
106 Ridge Street Ground Owner LLC	Delaware
10721 Domain Dr Ground Owner LLC	Delaware
1100 First Street Ground Owner LLC	Delaware
110-114 Ridge Street Equity Member LLC	Delaware
110-114 Ridge Street Ground Owner LLC	Delaware
1111 Pennsylvania Ave Ground Owner LLC	Delaware
1164-1172 Broadway Ground Owner LLC	Delaware
1180 Canton Street Ground Owner LLC	Delaware
120 Piedmont Avenue NE Ground Owner LLC	Delaware
1201-31 Lafayette Ground Owner LLC	Delaware
1221 Division Street Ground Owner LLC	Delaware
1225 19th Street Ground Owner LLC	Delaware
1317 Tomoka Town Center Ground Owner LLC	Delaware
1325 Wilson Ground Owner LLC	Delaware
135 West 50th Street Equity Member LLC	Delaware
135 West 50th Street Ground Owner LLC	Delaware
13650 East Colfax Avenue Ground Owner LLC	Delaware
138 E 38th Street Ground Owner LLC	Delaware
1470 NW Glisan Street Equity Member LLC	Delaware
1470 NW Glisan Street Ground Owner LLC	Delaware
1551 Wewatta Street Ground Owner LLC	Delaware
1152 15th Street NW Ground Owner LLC	Delaware
1570 – 1578 Humboldt Street Ground Owner LLC	Delaware
1600 W Girard Avenue Ground Owner LLC	Delaware
1661 Central Avenue Ground Owner LLC	Delaware
195 Broadway Ground Owner LLC	Delaware
20 Cambridgeside Place Ground Owner LLC	Delaware
20 Hawley Street Ground Owner LLC	Delaware
200 Elm Street Ground Owner LLC	Delaware
2000 M Street NW Ground Owner LLC	Delaware
2200 Wilson Boulevard Ground Owner LLC	Delaware
221 American Boulevard – Bloomington LLC	Delaware
2490 Kalakaua Ave Ground Owner LLC	Delaware
301 G Street Ground Owner LLC	Delaware
301 Washington Street Equity Member LLC	Delaware
301 Washington Street Landlord LLC	Delaware
3011 Hidden Forest Court Ground Owner LLC	Delaware
3025 Charlotte Avenue Ground Owner LLC	Delaware
32 Old Stream Member LLC	Delaware
3333 Old Milton Alpharetta LLC	Delaware
350 Rhode Island Street Ground Owner GenPar LLC	Delaware
350 Rhode Island Street Ground Owner LP	Delaware
3500 NW 24th St. Ground Owner LLC	Delaware
3549 Iowa Ave Ground Owner LLC	Delaware
3630 NW 25th St. Ground Owner LLC	Delaware
3719 Elgin Street Ground Owner LLC	Delaware
3930 Blake Street Ground Owner LLC	Delaware
3945 Connecticut Ave NW Equity Member LLC	Delaware
3945 Connecticut Ave NW Ground Owner LLC	Delaware
4000 Brandywine Street NW Ground Owner LLC	Delaware
4000 Headwaters Way Ground Owner LLC	Delaware

401 W Michigan Street – Milwaukee LLC	Delaware
403 Dexter Avenue North Ground Owner LLC	Delaware
4050 Rocky Center Equity Member LLC	Delaware
4050 Rocky Circle Ground Owner LLC	Delaware
414 2nd Street Ground Owner GenPar LLC	Delaware
414 2nd Street Ground Owner LP	Delaware
415 E 25th Street NW Ground Owner LLC	Delaware
415 Herondo Street Ground Owner GenPar LLC	Delaware
415 Herondo Street Ground Owner LP	Delaware
416 Metropolitan Ave Ground Owner LLC	Delaware
425 Park Ave Ground Owner LLC	Delaware
425 Park Ave Equity Member LLC	Delaware
425 Park Ave REIT LLC	Delaware
425 Park Ave Safehold Member LLC	Delaware
44 Olive Street Ground Owner LLC	Delaware
4900 Seminary Road Ground Owner LLC	Delaware
500 West 23rd Street Ground Owner LLC	Delaware
500 Woodward LLC	Delaware
5040 Calhoun Drive Ground Owner LLC	Delaware
50-90 Castilian Drive Ground Owner GenPar LLC	Delaware
50-90 Castilian Drive Ground Owner LP	Delaware
5145 S Dale Mabry Hwy Ground Owner LLC	Delaware
515 22nd Street NW Ground Owner LLC	Delaware
515 22nd Street NW Lender LLC	Delaware
520 SW 11th Ave Ground Owner LLC	Delaware
5300 Baltimore Avenue Ground Owner LLC	Delaware
5601 Democracy Drive Ground Owner LLC	Delaware
570 Washington Ground Owner LLC	Delaware
6000 Executive Blvd Ground Owner LLC	Delaware
61 Bond Street Ground Owner LLC	Delaware
62 Hundred Hollywood N GenPar LLC	Delaware
62 Hundred Hollywood North LP	Delaware
62 Hundred Hollywood S GenPar LLC	Delaware
62 Hundred Hollywood South LP	Delaware
620 8th Avenue S Ground Owner LLC	Delaware
6367 Lake Wilson Road Ground Owner LLC	Delaware
685 Third Avenue Equity Member LLC	Delaware
685 Third Avenue Ground Owner LLC	Delaware
7640 Warren Ground Owner LLC	Delaware
8000 West Drive Ground owner LLC	Delaware
8250 Meadow Road Ground Owner LLC	Delaware
8301 Anderson Drive Ground Owner LLC	Delaware
900 North Ninth Street Ground Owner LLC	Delaware
920 S Terrace Equity Member LLC	Delaware
920 S Terrace Ground Owner LLC	Delaware
9400 NW 41st Street Ground Owner LLC	Delaware
959 Sterling Place Ground Owner LLC	Delaware
959 Sterling Pl Ground Owner Member LLC	Delaware
9615 Medical Center Drive Ground Owner LLC	Delaware
99 193 Aiea Heights Drive Ground Owner LLC	Delaware
CARET Management Holdings LLC	Delaware
CARET Services TRS Inc.	Delaware
CARET Ventures LLC	Delaware
CTL I Maryland LLC	Delaware
East Houston Ground Owner LLC	Delaware
East Houston Retail Owner LLC	Delaware
Glenridge Point Ground Owner LLC	Delaware
Great Oaks Ground Owner GenPar LLC	Delaware
Great Oaks Ground Owner LP	Delaware
Hubble Drive Lanham LLC	Delaware
iStar CTL Manager LLC	Delaware
iStar Dallas GL GenPar LLC	Delaware

iStar Dallas GL LP	Delaware
iStar North Old Atlanta Road LLC	Delaware
iStar Woodward LLC	Delaware
Lighthouse GenPar LLC	Delaware
Lighthouse Ground Owner LP	Delaware
Madison Arizona Ground Owner LLC	Delaware
One Palm Apartment Equity Member LLC	Delaware
One Palm Apartment Owner LLC	Delaware
One Palm Commercial and Hotel Owner LLC	Delaware
Pershing Point GL Venture LLC	Delaware
Promenade Ground Owner LLC	Delaware
Red Lion GP LLC	Delaware
Regency Lakeview GL GenPar LLC	Delaware
Regency Lakeview GL LP	Delaware
Regency Lakeview GL Venture LLC	Delaware
RLH GenPar II LLC	Delaware
RLH Partnership II LP	Delaware
RLH Partnership, L.P.	Delaware
SAFE GL Acquisition LLC	Delaware
SAFE Pershing Partner LLC	Delaware
SAFE Regency Partner LLC	Delaware
Safehold Finco 1 LLC	Delaware
Safehold Finco 2 LLC	Delaware
Safehold Ground Owner Operating LLC	Delaware
Safehold Inc.	Maryland
Safehold Lender LLC	Delaware
Safehold Lender II LLC	Delaware
Safehold Operating Partnership LP	Delaware
Safehold OP GenPar LLC	Delaware
SFI I, LLC	Delaware
Silo Cinema, Inc.	New York
West Ninth GenPar LLC	Delaware
West Ninth Ground Owner LP	Delaware
West Vue Ground Owner LLC	Delaware