It happened Saturday shortly after 4 p.m. near 125th Street.
The 65-footer, with a roughly 19-foot beam, is equipped with advanced technology, three staterooms and multiple entertainment lounges.
Seniors from Weehawken High School were celebrating their prom on a docked yacht Thursday night when it somehow collided with another boat.
Tanner Broadwell and Nikki Walsh sold all of their belongings and bought a 28-foot boat to travel the Gulf, but two days into their adventure, the boat struck something under the water and capsized.
The boats went up in flames around 9 p.m. at the Dudley Street Marina. One person was rescued from the dock.