The US Coast Guard says the twin-engine MU-2B turboprop, manufactured by Mitsubishi, was 37 miles east of the island of Eleuthera on Monday when air traffic control in Miami lost radar and radio contact with the plane.
A small plane - with four New Yorkers on board - has gone missing near the Bahamas, officials said Tuesday.
Assisting the Coast Guard in the search, which began by air on Monday, were the Royal Bahamas Defense Force and U.S. Customs and Border Protection.
The passengers are CEO and Founder of Skylight Group Jennifer Blumin (40) along with her two young sons (4,2) and a man called Nathan Ulrich (52).
The plane was traveling at a speed of about 300 knots and was 24,000 feet above the ground when it lost contact with air traffic control, the Coast Guard said.
"There's no indication of significant adverse weather at the time", said Lt. Cmdr.
The 10-seat plane is registered to Ithaca Consulting, registered to the same Southold, New York, address for Blumin and James Ramsey, according to Newsday.More news: Greece eyeing July bond, if deal reached with lenders
Blumin, a wealthy Tribeca event planner, and her ex-husband had just put their Tribeca loft on the market for $US3.7 million ($A5 million).
Mr Ulrich is a mechanical engineer and the founder of Xootr, a manufacturer of folding kick scooters.
The Bermuda Triangle is usually seen as ominous because it has a history of missing persons, specifically ones onboard aircraft and watercraft.
At least 1,000 lives have been lost in the Triangle in the last 100 years.
But the US Coast Guards reportedly found debris on Tuesday at 3:30pm, approximately 15 miles east of Eleuthera, Bahamas; which is believed to be near the sight where the plane went missing.
Scientists have claimed the stormy blasts can flip ships into the sea and bring planes crashing down into the sea.
The plane was travelling over the Bermuda Triangle when it disappeared. Randy Cerveny, "The satellite imagery is really bizarre.the hexagonal shapes of the cloud formations".