4,248,435 SharesSafehold Inc.Common Stock

This prospectus supplement and the accompanying prospectus relate to the potential offer and sale from time to time of up to 4,248,435 shares of our common stock, $0.01 par value per share ("common stock"), by the selling stockholders identified in this prospectus supplement.

The selling stockholders identified in this prospectus supplement (which term as used herein includes their pledgees, donees, transferees, or other successors in interest) may offer the securities from time to time as they may determine directly or through underwriters, broker-dealers or agents and in one or more public or private transactions and at fixed prices, prevailing market prices, at prices related to prevailing market prices or at negotiated prices. If the securities are sold through underwriters, broker-dealers or agents, the selling stockholders will be responsible for underwriting discounts or commissions or agents' commissions. See the sections entitled "Plan of Distribution" and "About this Prospectus Supplement" for more information.

We will not receive any proceeds from the sale of our common stock by the selling stockholders but have agreed to pay certain expenses incurred in connection with the registration of the 4,248,435 shares of common stock offered by this prospectus supplement, including among other things, certain registration and filing fees, fees and expenses of compliance with securities or blue sky laws, fees and expenses incurred in connection with the listing of the shares on the NYSE and printing and distribution expenses. The selling stockholders will pay any underwriting discounts and commissions and expenses they incur for brokerage, accounting, tax or legal services or any other expenses they incur in disposing of the shares.

Our common stock is listed on the New York Stock Exchange under the trading symbol "SAFE." The last reported sale price of our common stock on the New York Stock Exchange on March 24, 2026 was $13.93 per share.

We have elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with our taxable year ended December 31, 1998. Shares of our common stock are, with certain exceptions, subject to a 9.8% ownership limitation to, among other things, assist us in qualifying and maintaining our qualification as a REIT. In addition, our charter contains various other restrictions on the ownership and transfer of shares of our common stock.