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.
Today, two of the former Alexander Smith and Sons Carpet Company loft buildings located at 540 and 578 Nepperhan Avenue have been repurposed to house the Yo Ho Artist Community, a collective group of talented artists that works out of private studios there.
despite the car's seemingly glowing performance, the company went under.
After World War II, however, with increased competition from less expensive imports, Yonkers lost much of its manufacturing activity.