Video from the scene showed only the hull of the small vessel visible above the water.
Two children and three adults escaped injury when their boat started taking on water in the Sandy Hook Bay.
The group was rescued by the NYPD, FDNY and Coast Guard, who brought them back to the Battery Park Marina, where the boat originated.
The Coast Guard said it received a report from another aircraft in the area of a small, white plane in the water about eight miles off Mattituck Inlet.
July is the busiest period for boating accidents, according to the Coast Guard.
A 14-year-old swimmer and his friends were in the water off of Ocean City, when they were pulled out by the current.
A fisherman made a gruesome discovery in waters off Sandy Hook, New Jersey.
According to published reports, a witness claims to have seen the crane operator inside the machine at the time of the accident.
Standing alongside the foot print of the South Tower, a group of sailors, Marines, and Coast Guard members received their promotions.
Three Navy ships and two Coast Guard cutters are scheduled to arrive in New York Harbor Wednesday morning, the start of the week.
A Coast Guard cutter was on the water Monday looking for a 26-foot sailboat off Long Island after the boater reported Sunday it was taking on water.
Three people were on board a boat that burst into flames near Shinnecock Inlet on Sunday. After the boat caught fire, the group jumped into the water and had to be rescued.
For an unknown reason, the 38-foot towing vessel Sea Lion started taking on water near Atlantic Beach around 3 p.m., the Coast Guard said.
The Coast Guard has temporarily suspended its search for a missing fisherman at the Jersey shore.
The Coast Guard on Saturday suspended its search off the New Jersey coast for a missing Long Island, man, a day after his sailboat was found adrift nine miles out to sea with no one aboard.