Colin Jost’s $280,000 ‘Dumbest’ Purchase – You Won’t Believe What He Spent It On

Colin Jost is reflecting on a 2022 purchase he made with former "Saturday Night Live" co-star Pete Davidson, and now admits it was the “dumbest” buy he’s ever made.

Even with his history of high-profile purchases, including having owned a handful of multimillion-dollar homes, Jost acknowledges that teaming up with Davidson to co-own a specific mode of transportation might not have been his smartest financial decision.

During New York Fashion Week, Colin Jost reflected on that 2022 purchase that cost him $280,000.

Colin Jost’s $280,000 Staten Island Ferry purchase in 2022 has raised eyebrows – and he’s not exactly defending it. "The Saturday Night Live" star joined forces with comedian Pete Davidson to snag a decommissioned Staten Island Ferry boat, but Jost admits to People Magazine that it wasn’t his brightest decision.

"It is absolutely the dumbest and least thought-through purchase I've ever made in my life," the comedian told the outlet at the Tommy Hilfiger show during New York Fashion Week, which, ironically, was held on board Jost and Davidson's ferry.

"The way I justified it is for the amount of money we were putting into buying it, on just a basic square-footage level, is if you found the right place for it to be, you were essentially buying a building on its side that's 65,000 square feet," he added. "So around New York, that is a very good price per square foot."

Pete Davidson and Colin Jost’s decommissioned ferry might be quietly docked in Staten Island at the moment, but it’s gearing up for a $34 million makeover. The ambitious renovation plans include multiple bars, restaurants, and even a hotel on board.

“I think right now, we have six bars and two venues operated separately or combined,” Ron Castellano, an architect and lesser known partner on Davidson and Jost’s ferry project, told Curbed earlier this year. “We have outdoor event space, we have restaurants — two restaurants. It’s a big boat, almost 300 feet long, 65,000 square feet.”

The "Saturday Night Live" alum also mentioned that while the ferry could potentially be used as a functional boat, it would need a crew to operate, and he’s not sure if he’s up for that hassle. Plus, even though he might enjoy taking the ferry out on the water himself, he actually can’t.

"I'm sure our insurance company would love it," he said, joking. "Maybe they would love it because it would get them out of the contract. But it requires a lot of people to move it."

Right now, the ferry has to be docked or towed since the engines aren’t working, but Jost mentioned it could be operational “within weeks” if they decided to put in the effort.

Instead, the team thinks it’s more practical to use the ferry as a venue, similar to how Tommy Hilfiger used it for a fashion show.

One of Jost and Davidson’s partners in the project, architect Ron Castellano, shared with Curbed in March that their plan is to transform the ferry into a venue featuring hotel rooms, restaurants, and bars, with Miami being a potential location for it.

How has Scarlett Johansson reacted to Jost’s ferry investment over the past two years? He shared that he “soft-floated” the idea to her before making the purchase, and she didn’t take him seriously.

However, after he went ahead with the buy, Jost said she eventually came around and supported the decision.

"She was just like, 'Wait, so you own this boat now?' Very fair question," Jost said of his wife's reaction. "She now obviously sees the value in it, but also I think she's like, 'It's now become something that is a defining thing for you guys and an interesting thing for you guys. So you should take it seriously and figure out the best version of it, because for better or worse, it's going to reflect on you.' We don't care because we're comedians."

The ferry, known as the John F. Kennedy, served commuters between Manhattan and Staten Island from 1965 until its retirement in August 2021. By the time it was retired, it was the oldest vessel in its fleet.