Port Authority sources told the New York Post the boat sank in rough waters around 4:30 p.m. Sunday while seven officers were in the water training for their water rescue certification. The sources said the boat may have collided with a jetty before sinking.
Two or three of the officers from the boat were briefly hospitalized after the incident, officials said.
The Port Authority said officers will attempt to raise the boat Monday.
'Happy' fan videos make Pharrell cry [VIDEO]
Pregnant Mila Kunis wins 'Best Villain' at MTV Movie Awards