On May 3, the U.S. Coast Guard rescued 32 people from a 63-foot Lamborghini Tecnomar yacht that began sinking near Monument Island off the Miami coast.

The vessel reportedly went vertical in the water as it took on water around 5 p.m. ET. Fortunately, all passengers were recovered safely and without injuries.

Commercial salvage crews are working to recover the yacht, which authorities say does not pose a hazard to navigation, USA Today has reported.

The incident occurred near Monument Island, a popular boating area close to Miami’s upscale Hibiscus, Star, and Palm Islands.

Written by B.C. Begley