The incident happened around 4:46 a.m. in Long Island City on Borden Avenue right underneath the Long Island Expressway.
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.
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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