At a Staten Island shipyard, workers were recently busy repairing the Cuauhtémoc, a Mexican Navy sailing ship that had tragically collided with the Brooklyn Bridge in May, claiming two crew members’ lives.
Nearby, however, sat a different kind of troubled vessel: the infamous Staten Island Ferry purchased by comedians Colin Jost and Pete Davidson.
Once a proud vessel carrying over 3,000 passengers daily between Staten Island and Manhattan, the 277-foot John F. Kennedy ferryboat now idles in the murky waters of the Kill Van Kull tidal strait, its future as uncertain as the currents it once navigated.
The proud Staten Island natives, known for their time on “Saturday Night Live,” acquired the decommissioned ferry almost four years ago for a cool $280,100.
When they looked at this 2,100-ton hunk of metal, they envisioned a floating event space, complete with two restaurants, six bars, a concert venue, and hotel rooms boasting private sundecks. But as the years have drifted by, and their grand $35 million plan inches no closer to reality, it seems they might have paid $280,000 too much for it.
Mr. Jost, 43, has candidly called the acquisition “the dumbest and least thought-through purchase I’ve ever made in my life.” Mr. Davidson, 31, has similarly labeled it “a lifelong problem for me and Colin.”
Adding to their woes, legal troubles have emerged. Titanic 2, the limited liability company established by Mr. Jost, Mr. Davidson, and their business partners, is now facing a lawsuit for nonpayment from the law firm hired to manage contracts for dockage and towing.
The lawsuit, filed in June at the Supreme Court of the State of New York, alleges that “Titanic 2 has failed and refused to pay its outstanding obligations” amounting to $13,500. Val Wamser, a lawyer for the plaintiffs, refrained from providing specifics but confirmed in an email: “We can confirm that we have not received payment yet or any response to our lawsuit as of this date.”
From Heritage Park, a scenic waterfront area along Staten Island’s north shore, one can spot the bright orange John F. Kennedy on the brackish waters. Incapable of self-propulsion — its engine was severely damaged by fire long before its sale — it drifts in the harbor like an enormous bathtub toy, steadily accumulating docking fees.
Steve Kalil, president of the Caddell Dry Dock & Repair shipyard, declined to disclose the monthly dockage fees paid by Mr. Jost and Mr. Davidson, but suggested that a reporter’s estimate of $10,000 was “on the low side.” He noted that it’s highly unusual for a boat to remain stationary for so long without any repairs. Mr. Kalil also had no idea when the John F. Kennedy might finally leave.
“I’d like to say soon, but who knows,” Mr. Kalil remarked. “The hope is that they will eventually succeed in their dream. And we would be part of that.”
Anyone who has ever found themselves in over their head with a DIY renovation project can surely empathize with Mr. Jost and Mr. Davidson. They made an impulse purchase during an online auction—a scenario many can relate to!
However, as seasoned mariners well know, a boat is a particularly demanding investment, a true money pit — especially one that’s 60 years old, larger than a superyacht, and in dire need of extensive repairs and dock space in one of the world’s busiest and most regulated harbors.
The Auction
The Department of Citywide Administrative Services is responsible for divesting obsolete inventory belonging to New York City. This includes items like Nortel office phones (6 units), face masks (12 cases), or outdated Webster’s New World Dictionaries (9 copies). To clear out these items, the little-known agency regularly holds public auctions.
They also handle larger assets, such as decommissioned ferry boats. Typically, these vessels are acquired by companies looking to sell them for scrap metal. This was the agency’s expectation when they listed the John F. Kennedy for sale on January 12, 2022.
Larry Siegel, the city employee who managed the auction and is now retired, initially estimated the ferry’s scrap value between $60,000 and $100,000. Considering its history and unique status, he set the starting bid at $250,000.
Mr. Siegel viewed his role as maximizing revenue for the city. When the boat failed to attract initial interest, he resorted to a classic sales tactic: he slashed the price in half.
Simultaneously, agency employees attempted to generate buzz on social media. A few posts unexpectedly went viral, at least by government standards. One user even tweeted at NBC, the broadcaster of “Saturday Night Live,” urging them to alert Mr. Davidson and Mr. Jost. Perhaps that’s how Staten Island’s famous sons discovered this peculiar opportunity. (Mr. Jost and Mr. Davidson declined to comment for this article, with their representatives stating they preferred to discuss the project “closer to completion.”)
Launched in 1965, the John F. Kennedy was the oldest vessel in the Staten Island Ferry fleet. The auction listing made no attempt to embellish its seaworthiness. The agency bluntly stated the boat was in “poor condition,” having been “decommissioned due to mechanical issues on the propulsion end.” In short, it couldn’t move.
Despite its condition, during the weeklong auction, Mr. Jost sent a text to Mr. Davidson asking, “Split it?”
Both men shared a deep affection for the Staten Island Ferry. Mr. Jost frequently commuted on it to Regis High School, a private Catholic institution on the Upper East Side. In his 2020 memoir, “A Very Punchable Face,” he described it with a playfully teasing tone that thinly veiled his genuine fondness: “Riding the ferry was not a ‘yacht life style.’ The ferry is known for its amazing views of the Statue of Liberty, but it’s also a great place to watch a raccoon eat a passenger’s leftover meth.”
Mr. Davidson’s heartfelt connection to the ferry was evident in “The King of Staten Island,” his 2020 comedy loosely based on his own life. In the film’s touching conclusion, the protagonist rides a Manhattan-bound Staten Island Ferry with the woman he’s destined to be with, and they share a poignant kiss. To stirring music, an aerial camera captures a breathtaking view of the large orange vessel.
As the 2022 auction approached its final hours, city employee Mr. Siegel observed a sudden surge of bids from new accounts. “I was, like, ‘Oh, this is different,’” he recalled, “‘We have breached the scrap metal industry!’”
The top bid was attributed to Paul Italia. When Mr. Siegel learned that Mr. Italia co-owned the Manhattan comedy club, The Stand, he initially worried the entire transaction might be an elaborate prank.
However, the purchase was neither practical nor a joke: Mr. Italia was indeed part of the group, which included Mr. Jost, Mr. Davidson, and Ron Castellano, a New York architect slated to oversee the ambitious transformation of the dilapidated vessel into a dazzling hospitality complex.
“Everyone who came together on this has a sincere motive to see the right thing happen, to restore a piece of New York,” Mr. Italia told The New York Times after their winning bid.
On a chilly day shortly after the auction, Mr. Davidson visited the St. George Ferry Terminal on Staten Island, where the Department of Transportation housed the inoperable boat.
Dressed in a puffy brown coat, wool cap, and sunglasses, he spoke to a New York Post reporter about his youthful days riding the ferry to perform stand-up in Manhattan. Upon viewing his purchase, he appeared somewhat stunned. “It’s sick,” he declared, seemingly impressed.
The following day, during a “Weekend Update” segment on “Saturday Night Live,” Mr. Jost and Mr. Davidson acknowledged the news that had spread widely.
“We bought a ferry — the windowless van of the sea,” Mr. Davidson quipped with a smirk.
“Yes, it’s very exciting,” Mr. Jost added, deadpan. “We thought the whole thing through.”
Rough Sailing
New York City takes no responsibility for the delivery of its former property, whether a filing cabinet or a ferryboat. This meant Mr. Jost and Mr. Davidson had a mere 10 days to retrieve it.
Without a functional engine, the ferry required towing. That part was relatively easy, with approximately 30 tugboat companies in New York Harbor willing to transport a ship for about $1,700 an hour. The real challenge was finding a place to tow the ferry to in a city where even parking spaces are a scarcity.
Only a handful of private shipyards remain operational along the city’s waterfront, and space is extremely valuable. Docking at a public pier on the Hudson or East rivers would necessitate formal approval from a bewildering array of city and state agencies.
Mr. Italia diligently studied satellite images of New York Harbor and reached out to every waterfront property owner he could locate. The 10-day deadline, inevitably, passed by.
In February, Mayor Eric Adams’ administration extended the deadline, yet the vessel remained anchored at St. George Terminal well into April.
Mr. Jost finally embarked on a symbolic “victory cruise” on April 11, 2022, when the John F. Kennedy was towed three miles to the Staten Island shipyard. His father, Daniel, a retired schoolteacher, accompanied him on the journey.
Five months later, during an appearance on “Late Night With Seth Meyers,” Mr. Jost appeared to be feeling the full weight of his impulsive purchase. “This is why idiots should not be allowed to do things,” he lamented. “Pete and I bought this boat and then, like, there’s so many immediate decisions you have to make.”
One of those immediate decisions involved selecting a name for the limited liability company they had formed for their venture. They quickly discovered that their chosen corporate name, Titanic 2, was not well-received in the business world.
“Suddenly, we’re looking for insurance, which we have to buy, because it’s a giant deathtrap boat,” Mr. Jost recounted to Mr. Meyers. “And then every insurance company is like: ‘It’s called Titanic 2?’”
Months continued to tick by. Yet, the world did not forget Mr. Jost and Mr. Davidson’s expensive whim. During talk show appearances and red carpet events, they were constantly pressed for updates.
Even Mr. Jost’s wife, actress Scarlett Johansson, couldn’t escape the topic. During a June 2023 appearance on “Live With Kelly and Mark,” host Mark Consuelos began: “I heard that your husband, Colin Jost, and Pete Davidson bought a — ”
“The Staten Island Ferry!” Ms. Johansson exclaimed, closing her eyes and shaking her head. “Yeah.”
She recalled her husband’s “secretive phone calls” in the days leading up to his text message announcing their ferryboat ownership. When asked for her reaction, Ms. Johansson replied, “I guess surprised. I was like: ‘What are we doing with this?’”
On June 5, 2023, at the New York premiere of “Transformers: Rise of the Beasts,” Mr. Davidson was asked by “Entertainment Tonight” if he would host an after-party on his boat.
“Yeah, if it’s not sunk!” he replied.
“I have no idea what’s going on with that thing,” he admitted. “Me and Colin were very stoned a year ago and bought a ferry. And we’re figuring it out.”
Nine days later, Mr. Jost took to Instagram to set the record straight: “Is it worse that I was actually stone-cold sober when we bought the ferry?”
Soon after, Mr. Davidson sounded more optimistic. “There’ll be a restaurant, there’ll be a concert venue, there’ll be a movie theater,” he declared during an appearance on the podcast “Family Trips With the Meyers Brothers,” adding that the party barge was destined to be towed 1,100 miles for winters in Miami.
Amid the owners’ fluctuating emotions, from initial euphoria to current despair, the costs continued to escalate. It’s estimated that storage fees alone for the John F. Kennedy have surpassed $600,000, more than double its purchase price. This is in addition to insurance, towing, and legal fees. In one single month, the law firm Nicoletti, Hornig billed the owners $27,335, according to the lawsuit.
Further expenses arose from Mr. Castellano’s design work with Persak & Wurmfeld, a prominent New York naval architecture firm. The vessel’s renovation presented a significant challenge, as the John F. Kennedy, like many boats of its era, contains asbestos, which must be safely removed before it can pass state or city inspections.
“The thing about asbestos is, it’s not an issue until you go to take it out,” explained Patrick Quincannon, president of Quincannon Associates, a New York-based ship broker. “It has to be done in hazmat gear. You’re looking at salty numbers to do asbestos remediation.”
A prime location for a floating entertainment venue would ideally be somewhere along Manhattan or Brooklyn — perhaps a pier on the East River. However, that too is far easier conceived than accomplished, noted Mr. Quincannon, who enumerated the practical considerations a group of well-meaning novices might have overlooked.
“Those ferries are big, so you would need dolphin heads to secure it,” he elaborated, referring to a specialized multipoint mooring system. “On the East River, the current rips along there.”
Christopher O. Ward, the interim head of the Waterfront Alliance, a New York advocacy group, highlighted yet another obstacle: underwater shadows.
Large boats cast significant shadows, which can harm marine ecosystems and gradually kill aquatic life, Mr. Ward explained. He stated that the New York State Department of Environmental Conservation has been “strident in its administration and regulation of shadow on waterfront locations.”
At this juncture, even selling the boat for scrap — if that’s what Mr. Jost and Mr. Davidson ultimately decide — wouldn’t provide much relief from the financial drain. Scrap markets are currently weak, according to Tommy O’Toole, a partner at Compass Maritime, a brokerage firm in Woodcliff Lake, N.J., specializing in ship sales.
Compared to large oceangoing vessels, ferries are relatively lightweight and thus less valuable to recyclers. Moreover, the ship recyclers offering the best prices in the United States are located far away, from Mobile, Alabama, to Brownsville, Texas. The John F. Kennedy would incur substantial towing costs to reach such a distant destination.
“Let’s say something weighed 2,000 tons,” Mr. O’Toole calculated, doing some quick mental math. “If it’s worth $150 a ton to scrap, that’s 300 grand. If the tow cost you $350,000, you’d have to pay someone $50,000.”
Kevin Hennessey, the former captain of the John F. Kennedy, extended his best wishes to Mr. Jost and Mr. Davidson, though he candidly revealed to The Daily News in 2022 that the boat had a severe cockroach problem. “This was an impulse buy by two guys with a lot of money who don’t know anything about maritime vessels,” Mr. Hennessey stated.
In May 2025, “Saturday Night Live” aired a sketch set aboard a ferry. Two passengers found themselves in a heated argument while seated in parked cars during a crossing. When one character, played by cast member Mikey Day, remarked on his affection for ferries, Mr. Jost made a sudden cameo. “If you love ferries, would you like to buy one?” he shouted. “Please buy it!”
To date, the John F. Kennedy has departed its Staten Island slip only once — in September 2024, when it was towed to Pier 17 in Manhattan to host a Tommy Hilfiger presentation during New York Fashion Week. Dressed in a crisp suit, Mr. Jost greeted the esteemed guests, who included Brooke Shields and members of Staten Island’s very own Wu-Tang Clan.
That gathering offered a tantalizing glimpse of what the vessel could eventually become. “I always had faith that it will be something really fun,” Mr. Jost expressed that day.
He and his partners are not the first to recognize the untapped potential in an old ferryboat. In 1966, entrepreneur Herbert R. Axelrod acquired four decommissioned Staten Island Ferries with the grand vision of transforming them into floating restaurants. His plan, however, never materialized.
The marina owner George Searle harbored the same ambition in 1976 when he purchased an out-of-service Staten Island Ferry. It sat rusting at his marina along the Raritan River in New Jersey for over three decades before it was finally dismantled for scrap.
Whatever the ultimate fate of the dream boat owned by Mr. Jost and Mr. Davidson, one thing remains abundantly clear. As Mr. Quincannon aptly put it: “They’re paying out a lot to have this thing just sitting there while they figure out what to do.”
Mr. Davidson, for his part, has not yet abandoned hope. “We have a really good plan,” he stated in a recent appearance on the YouTube talk show “Hot Ones.” “It’s fun to have a dream.”