<SEC-DOCUMENT>0001213900-25-066125.txt : 20250919
<SEC-HEADER>0001213900-25-066125.hdr.sgml : 20250919
<ACCEPTANCE-DATETIME>20250721162103
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-25-066125
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250721

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAFE & GREEN HOLDINGS CORP.
		CENTRAL INDEX KEY:			0001023994
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				954463937
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		195 MONTAGUE STREET, 14TH FLOOR
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201
		BUSINESS PHONE:		(646) 240-4235

	MAIL ADDRESS:	
		STREET 1:		195 MONTAGUE STREET, 14TH FLOOR
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SG BLOCKS, INC.
		DATE OF NAME CHANGE:	20111122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CDSI HOLDINGS INC
		DATE OF NAME CHANGE:	19990114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PC411 INC
		DATE OF NAME CHANGE:	19961001
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: center; text-indent: 0.5in">July 21, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Via EDGAR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Office of Trade &amp; Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 53px; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: </FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr. Nalbantian/ Ms. Ransom</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 53px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Safe &amp; Green Holdings Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amendment No. 1 to Registration Statement on Form S-1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Submitted July 10, 2025</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">File No. 333-286850</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Mr. Nalbantian and Ms. Ransom:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On behalf of Safe &amp; Green Holdings Corp. (the
&ldquo;<B>Company</B>&rdquo;), we have set forth below responses to the comments of the staff (the &ldquo;<B>Staff</B>&rdquo;) of the
Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) contained in its letter of July 17, 2025, with respect to the Company&rsquo;s
Registration Statement on Form S-1(the &ldquo;<B>Form S-1</B>&rdquo;<B>) </B>as noted above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For your convenience, the text of the Staff&rsquo;s
comments is set forth below in bold, followed in each case by the Company&rsquo;s responses. Please note that all references to page numbers
in the responses are references to the page numbers in the Amendment No. 1 to the Form S-1 (the &ldquo;<B>S-1</B>&rdquo;) submitted concurrently
with the submission of this letter in response to the Staff&rsquo;s comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Amendment No. 1 to Registration Statement
on Form S-1 Filed July 10, 2025</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Prospectus Summary</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Recent Developments</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Nasdaq Continued Listing Rule Compliance, page
6</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>1. We note your response to prior comment
8 and reissue in part. We acknowledge your response that you do not believe that stockholder&rsquo;s equity is currently a risk. Please
update this section to reflect any notification from Nasdaq with regards to your Nasdaq Listing Rule 5550(b)(1) compliance plan. You
currently have disclosure regarding your November 2024 appeals plan with Nasdaq and that as of the February 2025 merger you believe
you are now in compliance with Rule 5550(b)(1); however, please also include if you have, or have not, received any official
notification from Nasdaq regarding regained compliance.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response</B>: In response to this comment,
the Company respectfully advises the Staff that we have updated the Section on Page 6 to include additional disclosure in connection with
our recent hearing on our compliance plan to address our compliance with Nasdaq Listing Rule 5550(b)(1) and 5550(a)(2).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">1185 AVENUE OF THE AMERICAS
| 31ST FLOOR | NEW YORK, NY | 10036 <BR>
T (212) 930-9700 | F (212) 930-9725 | WWW.SRFC.LAW</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2. Please amend this section to disclose the
June 11, 2025, notice from Nasdaq regarding Nasdaq Listing Rule 5550(a)(2) compliance and any actions taken or planned to achieve compliance,
such as the information you disclosed in your current report on Form 8-K filed on July 14, 2025</B>.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to this comment,
the Company respectfully advises the Staff that it has included the recent disclosure from the June 11, 2025, notice from Nasdaq regarding
Nasdaq Listing Rule 5550(a)(2) on page 6 of the registration statement as requested by the Staff. .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Reverse Stock Split, page 6</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3. We reissue prior comment 4. Please
revise this section, and the sub-section on page 20, to acknowledge your intent to conduct a reverse stock split, as contemplated in
the proxy statement you recently filed, and disclose the expected ratio and whether such stock split is intended to increase your minimum
closing bid price with a view to addressing the delisting notice you received in June.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to this comment,
the Company respectfully advises the Staff that it has included the discussion in connection with the Company&rsquo;s planned Reverse
Stock Split on page 6, pursuant to the Company&rsquo;s Annual Meeting on August 25, 2025, but cannot make the determination of what the
exact ratio is at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>The Offering, page 8</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4. We note your response to prior comment
6 and reissue in part. We acknowledge that with the removal of the Class A and Class B warrants, they are no longer being considered
as part of the gross proceeds. However, please disclose with specificity the potential gross proceeds of the Pre-Funded Warrants, rather
than the current disclosure of &ldquo;very minimal gross proceeds.&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to this comment,
the Company respectfully advises the Staff that it has included the specific gross proceeds on page 8 of the registration statement, as
requested by the Staff..</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">1185 AVENUE OF THE AMERICAS
| 31ST FLOOR | NEW YORK, NY | 10036 <BR>
T (212) 930-9700 | F (212) 930-9725 | WWW.SRFC.LAW</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Risk Factors</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Risks Related to this Offering, page 10</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>5. We note your 8-K filed on June 12,
2025, regarding the June 11, 2025, notice from Nasdaq informing you of non-compliance with Nasdaq Listing Rule 5550(a)(2). Please
add risk factor disclosure related to potential delisting from the exchange.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to this comment,
the Company respectfully advises the Staff that it has added a risk factor on page 13 in connection with a delisting from the exchange,
as requested by the Staff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>General</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6</B></FONT><B>. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
note your disclosure that the April Private Placement was completed on April 14, 2025. We also note your disclosure on page 5 that
the private placement is now being renegotiated to eliminate the Series A and Series B Warrants, as well as your response letter
disclosure that you are &ldquo;in the process of restructuring the transaction with the investors,&rdquo; yet you continue to refer to
such warrants in several places in this registration statement. Also, your current report on Form 8-K filed July 14, 2025 </FONT>states
that you must publicly disclose that you have restructured the terms of your April 2025 offering to eliminate the Class B warrants,
and yet it is not clear that you have made such disclosure. Given the uncertainty around the status of your renegotiations of your
April Private Placement and the inconsistent disclosure contained in this registration statement, revise after such re-negotiations
have been completed and consistently disclose the securities that were issued and are being registered for resale.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to this comment,
the Company respectfully advises the Staff that on July 17, 2025, the Company entered into an Exchange Agreement with investors from the
April Private Placement and filed copies of the Exchange documents with the SEC in its current report on Form 8-K, filed on July 18, 2025.
Pursuant to the Exchange Agreement, all Series A and Series B Warrants have been eliminated as they are being replaced with Shares of
Series B Preferred Stock, pursuant to that certain Certificate of Designation, filed with the Company&rsquo;s current report on Form 8-K,
on July 17, 2025. We have noted throughout the registration statement that the Series A and B Warrants have been eliminated.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We trust that the above is responsive to your
comments. The Company appreciates the Staff&rsquo;s cooperation as it is on a very tight schedule with Nasdaq.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">1185 AVENUE OF THE AMERICAS
| 31ST FLOOR | NEW YORK, NY | 10036 <BR>
T (212) 930-9700 | F (212) 930-9725 | WWW.SRFC.LAW</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Should you have any questions relating to the
foregoing or wish to discuss any aspect of the Company&rsquo;s filing, please contact me at 516-459-8161.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%">Sincerely,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><I>/s/ Arthur Marcus</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Arthur Marcus, Esq.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Sichenzia Ross Ference Carmel LLP</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">1185 AVENUE OF THE AMERICAS
| 31ST FLOOR | NEW YORK, NY | 10036 <BR>
T (212) 930-9700 | F (212) 930-9725 | WWW.SRFC.LAW</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
