No, this isn’t a Weekend Update bit; Colin Jost and Pete Davidson, the two Saturday Night Live castmates from Staten Island really have bought a ferry.

On January 19th, an anonymous bidder bought a ferry boat called the John F. Kennedy for $280,000 on Wednesday, January 19. A bit of digging by Vulture revealed that the buyers were Jost, Davidson, and their business partner, comedy club owner Paul Italia. The trio have plans to turn the vessel into an event venue. The iconic orange ferry will offer a live entertainment space that includes comedy, art and food, according to the article.

Friday, The New York Post caught Davidson visiting the St. George Ferry Terminal, admiring his new purchase.

“It’s crazy,” Davidson said. “We used to take that ferry to do stand-up, all the time. It’s sick,” he added approvingly. “In a year, it’ll be a comedy club restaurant.”

While he posed for a photo with his new toy, a passerby asked Davidson, “Where are you going to put it?”

“Right now, we’re going to dock it in, I think, Gowanus, and do a bunch of work on it,” Davidson answered.

The ferry isn’t seaworthy yet: the listing for the auction item noted that although the 5,200-person boat is in good condition, but it will need some repairs before it’s ready to sail away with passengers on board.

“This double ended, passenger and vehicle ferry up for auction is in poor condition and had to be decommissioned due to mechanical issues, the mechanical issues are on the propulsion end,” the description for the item read. “On this vessel are numerous spare parts which are obsolete and not needed by our agency.”

“The Staten Island ferry is definitely something iconic,” Italia said in a statement obtained by ABC News. “We wanted to figure out a way to save it and do something special with it.”

Jost and Davidson haven’t officially commented yet on the purchase.