In 1983, the Otis Elevator Factory finally closed its doors.
With the loss of jobs in the city itself, Yonkers became primarily a residential city, and some neighborhoods, such as Crestwood and Park Hill, became popular with wealthy New Yorkers who wished to live outside Manhattan without giving up urban conveniences.
Philipse's great-grandson, Frederick Philipse III, was a prominent Loyalist during the American Revolution, who, because of his political leanings, was forced to flee to England.
All the lands that belonged to the Philipse family were confiscated and sold.
The original structure (later enlarged) was built around 1682 by Frederick Philipse and his wife Margaret Hardenbroeck.
Frederick was a wealthy Dutchman who by the time of his death had amassed an enormous estate, which encompassed the entire modern City of Yonkers, as well as several other Hudson River towns.
After World War II, however, with increased competition from less expensive imports, Yonkers lost much of its manufacturing activity.
The Alexander Smith Carpet Company, one of the city's largest employers, ceased operation during a labor dispute in June 1954.
In 1853, Elisha Otis invented the first safety elevator and the Otis Elevator Company, opened the first elevator factory in the world on the banks of the Hudson near what is now Vark Street.
It relocated to larger quarters (now the Yonkers Public Library) in the 1880s.
The New York City and Northern Railway Company (later the New York Central Railroad) connected Yonkers to Manhattan and points north from 1888.
A three-mile spur to Getty Square existed until 1943.
Yonkers was also the headquarters of the Waring Hat Company, at the time the nation's largest hat manufacturer.