East River capsized craft (5)
I believe the answer is:
trade
'craft' is the definition.
('trade' can be a synonym of 'craft')
'east river capsized' is the wordplay.
'east' becomes 'e' ('E' can be a synonym of 'east').
'river' becomes 'dart' (I've seen this before).
'capsized' says the letters should be written in reverse.
'e'+'dart'='edart'
'edart' reversed gives 'TRADE'.
(Other definitions for trade that I've seen before include "Business - deal" , "Calling" , "Commerce - traffic" , "Skilled occupation" , "Buy and sell, barter" .)