The vessel, currently docked in Staten Island, will be renovated at a cost of $34 million, according to Ron Castellano, an architect and one of the lesser known partners involved in the project.

Castellano, speaking to Curbed, revealed that the interior of the 1965 boat is being meticulously planned. The ambitious renovation will include the addition of multiple bars, restaurants, and even a hotel. "We have six bars and two venues, operated separately or combined," stated Castellano. "There will be outdoor event space and two restaurants. This boat is massive, spanning almost 300 feet in length and covering 65,000 square feet."

Studio Castellano, the firm led by Ron Castellano, has listed the project as the "JFK Ferry," indicating its future identity. The envisioned design includes a furnished patio on the top deck, 24 hotel rooms with sundecks, and two clubs spread across the lower levels. The only element still being deliberated is the inclusion of a pool. Castellano mentioned, "We're going back and forth on that. There might be a small Jacuzzi-like feature, but not a full-on pool."

However, construction is yet to commence, and completing the massive undertaking will undoubtedly take considerable time. Castellano further expressed the intention for the floating hospitality-entertainment space to travel between various locations, such as New York City and Miami. He clarified that the engine would not be repaired, and instead, the ferry would be towed between these destinations.

The floating barge, once transformed, will have to adhere to building codes wherever it docks. Castellano explained, "We're going to different areas where we could dock it to see what the regulations there are." This meticulous approach ensures that the project complies with local laws and regulations in each location.

The news of Jost and Davidson's boat project first emerged in 2022, when they teamed up with comedy club owner Paul Italia to acquire the decommissioned ferry. Their initial plan was to convert it into "New York's hottest club." However, the project has expanded into a much grander vision, offering a unique and luxurious hospitality experience for patrons.

While the renovation plans are undoubtedly ambitious, they align with the creative and imaginative endeavors that both Pete Davidson and Colin Jost are known for. As construction commences and the floating hospitality space takes shape, audiences eagerly anticipate its eventual launch as a one-of-a-kind destination combining entertainment, dining, and accommodation options.