The incident happened around 4:46 a.m. in Long Island City on Borden Avenue right underneath the Long Island Expressway.
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Witnesses say the vehicle was propelled by a skateboarding ramp that enabled the car to go over a fence and into the Newtown Creek.
One of the witnesses said he saw the vehicle speeding -- with no signs of it slowing down -- while it was approaching the dead end.
Firefighters say they deployed multiple rescue divers in conjunction with marine units, pulling three unidentified males from the submerged vehicle.
Police: 3 dead after vehicle crashes into water in Queens
The victims were in critical condition when they were transported to Cornell Medical Center.
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Police later confirmed the three people died at the hospital.
Two of the victims have been identified: 30-year-old Luis Cuadros and 25-year-old Quameek Mack.
The NYPD's Highway Collision Investigation Squad is investigating.
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