Cloud Club closed in the evening. Many famous executives based in the tower had lunch in the club. The club was only for men for several decades. In the 1950s and 1960s newer clubs opened, causing the attendance at the Cloud Club to decrease. In 1971 180 corporations supplied 300 members of the club. The club declined more as competition from other clubs increased and as companies moved offices to suburban areas. Texaco moved its employees to Westchester, New York in 1977, and the club closed in 1979. Tishman Speyer, which took over the Chrysler Building in 1998 and refurbished it, leased
New York Life Insurance Building (Montreal) current address 511 Place D’Armes. Owners modernized the third, fourth and fifth floors in 1952, and renovated the basement in 1970. In 1971, they added stairs between fifth floor and the roof. Subsequent owners completed further renovations in the 1980s and undertook an additional restoration project in 2006-2007 which included adding two residential penthouses on the roof. One of these is occupied by the current building owner. The building’s original name was New York Life Building but in 1909 became home of Quebec Bank. The building was also known as Bank of Quebec building and Montreal Trust building but still