The plane left Borinquen, Puerto Rico, about 11am on Monday en route to the small city of Titusville on the east coast of Florida when authorities lost contact.
On Board were residents of NY with two children aged 10 and 4 years old.
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.
The pilot of the MU-2B turboprop is a 40-year-old New Hampshire man named Nathan Ulrich. Communication was reported to be lost at 24,000 feet with a speed of 300 knots.
"It's [still] a search and rescue", Coast Guard officer Eric Woodall told ABC News. The search for survivors continues.
Blumin, of NY, is founder and boss of event management firm, Skylight Group, which confirmed that she and her family were on board.
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The pilot's brother, Walter Ulrich, 48, of Manhattan said he's trying to remain optimistic.
The Coast Guard said Wednesday morning on Twitter that debris found in waters near the Bahamas on Tuesday came from the same type of plane that vanished in the Bermuda Triangle on Monday. Ryan Kelly, a Coast Guard spokesman.
CORRECTION: A previous version of this story gave the incorrect home state for Nathan Ulrich based on information provided by the Coast Guard. He is the ex-husband of actress Rae Dawn Chong, known for her roles in "The Color Purple" and "Commando". "So send prayers to his family".
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.
The Bermuda Triangle is usually seen as ominous because it has a history of missing persons, specifically ones onboard aircraft and watercraft.
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