Home / Arts and Entertainment / Jost: Ferry Purchase Not a Money Pit!
Jost: Ferry Purchase Not a Money Pit!
28 Apr
Summary
- Colin Jost clarifies ferry purchase with Pete Davidson is profitable.
- The Staten Island ferry was bought for $280,100 in 2022.
- Jost sees the ferry as a real estate investment opportunity.
Colin Jost recently clarified misconceptions surrounding his purchase of a Staten Island ferry with fellow comedian Pete Davidson. Contrary to reports labeling the acquisition as a 'money pit,' Jost stated on the 'SmartLess' podcast that the venture has already proven profitable. The decommissioned 277-foot ferry, named the John F. Kennedy, was acquired in 2022 for $280,100 at a New York auction.
Jost explained that events hosted on the ferry have already generated enough revenue to cover the initial investment and associated docking expenses. He elaborated on his perspective, likening the ferry to a significant real estate opportunity. Jost envisions the vessel, with its 70,000 square feet, as a potential waterfront building if docked in Manhattan. The comedians, alongside Paul Italia, aim to develop it into an event space or entertainment venue, though securing a docking location remains a complex, ongoing process.
This clarification contrasts with previous humorous remarks made by Jost and Davidson about the ferry's cost. For instance, Davidson once jokingly attributed his participation in a show in Saudi Arabia to 'losing millions' on the ferry. Davidson also previously outlined ambitious plans for the ferry, including a movie theater, hotel, and shopping kiosks, suggesting that their extensive goals require more time and significant funding.
Jost, a Staten Island native, also shared a personal connection to the ferry, noting it was the same one he used to commute to Regis High School. His comments suggest a strategic business approach, moving beyond the pair's earlier public jesting about the ferry's financial implications.
