She spent three days trapped inside the 1 x 1.2 metre broken elevator.
The 53-year-old woman, Marites Fortaliza, worked for the Stephens family as a housekeeper.
According to media, Ms Fortaliza entered the elevator on Friday evening and got trapped between the second and third floors of the house, situated on the Upper East Side.
She was discovered on Monday, when a delivery person attempting to deliver something to the building contacted the homeowners. A family member, who then went to the building, called 911 to rescue Ms Fortaliza. She had by then spent three days trapped inside the 1 x 1.2 metre broken elevator.
According to 9 News, Ms Fortaliza was taken to New York Presbyterian Hospital with severe dehydration but her condition has since improved.
Mr Stephens’ private investment bank Stephens Inc released a statement on the matter which said: “The cause of this unfortunate incident is being investigated and appropriate measures will be taken to ensure something like this never happens again.”