It happened just before 4 p.m. in Hudson Park in New Rochelle, Westchester County.
New Rochelle police divers responded and pulled the driver from the submerged car.
They say the man, 74-year-old Ralph Simpson, was unconscious and unresponsive and was rushed to the hospital, where he was pronounced dead.
While recovering the vehicle, divers located the second victim, a female found dead amid the debris in the car.
She was identified as the male victim's wife, 74-year-old Arlene Simpson.
Authorities blamed a lack of visibility in the water and Arlene Simpson's location in the car, as well as the clutter, for preventing her discovery during the initial recovery.
The cause of the crash remains under investigation.
----------
* More Northern Suburbs news
* Send us a news tip
* Download the abc7NY app for breaking news alerts
* Follow us on YouTube