Thirty-two people were rescued Saturday afternoon after a luxury yacht sinks off Miami Beach. The vessel began taking on water near Flagler Monument Island in Biscayne Bay.

The 63-foot vessel was identified by some reports as a Tecnomar for Lamborghini yacht, valued at approximately $4 million. It is a limited-edition model created by Lamborghini and The Italian Sea Group, inspired by the company's sports cars.

The US Coast Guard and multiple other agencies, including local police and fire departments, responded to the incident around 5 p.m. Good Samaritan boat operators in the area also assisted with the rescue effort near Monument Island.

All 32 individuals on board were safely brought ashore. Authorities reported no injuries among those rescued.

The Florida Fish and Wildlife Conservation Commission is investigating the cause of the incident. One report indicated the Tecnomar for Lamborghini yacht had 32 people aboard, exceeding its stated maximum capacity of 16 passengers.

Commercial salvage crews are attempting to recover the vessel. Pictures shared online showed the yacht partially submerged with its bow out of the water after the boat capsized near Miami Beach.

The incident occurred during the weekend of the Formula One Miami Grand Prix, an event drawing a large crowd to the area. Rescue crews responded to the sinking yacht off Miami Beach.

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