Yeah, he was talking about a new(ish) boat that washed up on the beach, then got floated out before surf sank her in shallow water, mast apparent from the surface. The wreck is located 300-500m East of the pier at Beasley Park(?) on Santa Rosa Island, just east of the boardwalk(The Swamp, Howl at the Moon, Crab Shack, ect).
We were prepared to look for it over the weekend, but since our info was initially incorrect, we didn't get anywhere with it. So none of this can be verified by myself.
We also heard there was a larger, derelict wreck that is much older on the island, but probably further east than the new wreck. Apparently its hard to reach without a boat though, despite its very close proximity to shore.