Seems to be quite a bit of sensationalizing going on.
On another note and more dramatic, my theory is that it did not 'sink', this city could have been built on the shoreline of a much reduced (water) level of the Gulf Of Mexico that was blocked off from the worlds oceans across Florida, The Bahamas and the Yucatan or some combination such as this during the last Ice Age. I will post a link to a map that will show the worlds oceans at a reduced water level of about 300 ft. Most scientists think the worlds oceans were reduced by 300-500ft worldwide during the last Ice Age.