First, it was drenched in fake blood for a horror movie. Now, Pete Davidson and Colin Jost's infamous Staten Island Ferry is bleeding cash, anchored down by massive fees and legal troubles that may serve as a stark lesson in frivolous spending.
The comedians’ vessel, which they dubbed the “Titanic 2,” has become a floating money pit thanks to the thousands of dollars in monthly docking fees they pay at a Staten Island shipyard, according to the New York Times. Those ongoing costs are on top of an alleged outstanding $13,500 bill from a law firm. The firm, which had assisted with docking and towing contracts, sued the pair's limited liability company in charge of the boat for non-payment.
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As such, the vessel, which recently starred as the blood-soaked set for the horror-comedy Screamboat, has become a case study in how a quirky idea can capsize under the weight of reality, regulation and relentless costs.
A Financial Iceberg
The 277-foot ferry, purchased by the duo and their business partners in a New York City public auction for $280,100, was initially envisioned as a glamorous $34 million complex with restaurants, bars and a concert hall. Instead, it's become a lesson in the hidden costs of grandiose projects.
While the exact monthly docking fee is private, industry experts suggested to the Times that a $10,000-per-month bill would be “on the low side,” meaning the partners have likely shelled out over a quarter-million dollars in rent alone since April 2022 for the picturesque but inoperable boat.
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But the financial leaks don’t stop there. Manhattan law firm Nicoletti, Hornig Namazi Eckert & Sheehan, which assisted with initial docking, is now taking legal action. "No response to the lawsuit to date, and we have not received payment," a representative from the firm told the New York Post.
The comedians seem to have predicted their own folly. On ‘Late Night with Seth Meyers' in 2022, Jost said, "This is why idiots should not be allowed to do things." He later added that the ferry was "absolutely the dumbest and least thought-through purchase I've ever made in my life."
Despite the lawsuits and stalled plans, not all their business relationships are sinking. Steve Kalil, president of Caddell Dry Dock & Repair where the ferry is berthed, gave the celebrities a favorable review.
"There's no problem with them," Kalil told the Post. "Good tenants, absolutely… They pay rent every month. They pay a lot."
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Kalil spoke optimistically about the project’s future, saying that the owners are "making good progress.''
"These things take time," he said. "They may surprise people, and get it done."
The project highlights the perils of diving into capital-intensive industries — like ship restoration and event hospitality — without the requisite expertise. But, as Davidson recently said on the Youtube talk show ‘Hot Ones,' in reference to the boat, "It's fun to have a dream."
For now though, the docked Titanic 2 is a bright orange tribute to a namesake that similarly found itself unprepared for the harsh realities of the deep.
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Image: Shutterstock
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