CAPE MAY, N.J. (AP) — Officials say a Florida man had just purchased a boat that sank off the southern New Jersey coast, killing him and leaving a second man hospitalized.

New Jersey State Police Sgt. Steve Jones says 62-year-old Gregory Arlotta, of Fort Myers, Fla. is missing and presumed dead after his boat sank early Thursday about seven miles off Cape May.

Officials say Arlotta had bought the 63-foot vessel in New York a few days earlier and was transporting it to New Orleans when it sank.

Coast Guard crews from Atlantic City were able to reach the stricken boat and rescue one man, but Arlotta slipped under the surface along with debris from the boat.

The second man, 42-year-old Steve Hopkins, of Washington, D.C., remains hospitalized in critical condition.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

More From CBS New York

Download Weather App
Bloomberg WCBS Tri-State Business Index

Watch & Listen LIVE