The plane went off the runway at Aeroflex-Andover Airport Friday afternoon before skidding through the brush and landing in the lake, a witness said.
Two adults and two children got off the plane and onto a fishing boat that was already in the lake.
The plane sank within minutes of the passengers escaping.
The FAA released the following statement:
"A Cessna C172 aircraft went into a lake after it ran off the end of Runway 3-21 at Aeroflex-Andover Airport in New Jersey about 1 p.m. today. Check with local authorities about the four people on board, all of whom were able to get out of the aircraft before it became submerged. The FAA will investigate."
It is believed the plane initially took off from Harrisburg, Pennsylvania.
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