While there are certainly downsides to fame, the part where you have a lot of money and can basically spend it on whatever you need (and maybe occasionally do silly stuff with it just for fun) does sound pretty cool. Pete Davidson certainly seems to enjoy his money, as he used to get a lot of tattoos and get a lot of tattoos removed. Unfortunately, like the tattoos, Davidson’s investments have a tendency to look like not-so-great ideas after the fact.
Pete Davidson Is Taking A Big Loss On A Staten Isand Property
Back in 2020, Pete Davidson bought a condo in his hometown of Staten Island. It must be a pretty nice place, as according to the New York Post, it cost him $1.2 million at the time. Davidson originally put the property back on the market in 2022, and he was asking $1.3 million for it. However, in the intervening two years, the market in the area apparently shifted quite drastically.
The higher price, and seemingly the property itself, were not attractive to potential buyers. This reportedly led to significant renovations from Davidson, transforming the property from a two-bedroom into a one-bedroom with a loft and renovating the kitchen. At the same time, Davidson lowered his asking price.
The property is now in the middle of the sales process. While the final sale price is unclear, Davidson had lowered his asking price to $850,000, meaning he's out significant money when the $350,000 sales loss is added to whatever the renovation work costs.
Davidson’s Staten Island Ferry Purchase With Colin Jost Has Also Struggled
This is far from the only money Pete Davidson has spent in Staten Island that hasn’t quite panned out as he likely expected. Several years ago, fellow SNL star Colin Jost went in and purchased a decommissioned Staten Island Ferry. The idea was to renovate and turn it into an event space, and while it has been used for events, as well as for filming locations for Steamboat Willie-inspired horror movies, it’s also been called an “eyesore” by those who live nearby.
There have been claims that Davidson has been having financial difficulties of late, in part because of investments like these that haven’t worked out. Davidson has denied the claims. One might see a willingness to take a significant loss on a condo as evidence that the comedian needs money, but with Davidson having only recently become a father, it may simply be that he’s moving on with life, and his bachelor pad just sin’t something that he needs to be part of his life anymore.
