Still, instead of addressing the incident directly, the rapper said the two had a rare disagreement and haven't fought since.
"We’ve always had a great relationship," he said during a long interview with Rap Radar hosts Elliott Wilson and Brian Miller, posted to Jay-Z's streaming service, Tidal.
"We've had one disagreement. Before and after, we’ve been cool," the 47-year-old said. "That’s my sister. Not my sister-in-law, no, my sister. Period."
Knowles, 31, was seen in a video posted to TMZ allegedly punching and kicking Jay-Z in an elevator at the 2014 party, while a bodyguard tries to restrain her. Beyonce, who is also seen in the 58-second clip, eventually steps in between the two.
"I think we went into the elevator as great artists," Jay-Z quipped in the Rap Radar interview. "I've always loved Solange's music; I thought she was slept on until this last album ["A Seat at the Table."] I think Bey made an incredible album before, a hundred of them."
Beyonce, who has been married to Jay-Z for nine years, addressed the incident three months afterward in a song -- the remix to her hit "Flawless."
"Of course, sometimes s--- go down when there's $1 billion on an elevator," she sang.
Knowles has also previously addressed the altercation, telling Lucky magazine that her family is "all good."
"What we had to say collectively was in the statement that we put out, and we all feel at peace with that," she told the magazine, which is now defunct.
Knowles was referring to the joint statement she, Beyonce and Jay-Z released to The Associated Press soon after the video was released.
"As a result of the public release of the elevator security footage from Monday, May 5th, there has been a great deal of speculation about what triggered the unfortunate incident," it read. "But the most important thing is that our family has worked through it."
"Jay and Solange each assume their share of responsibility for what has occurred," the statement continued. "They both acknowledge their role in this private matter that has played out in the public. They both have apologized to each other and we have moved forward as a united family."