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
F. W. Woolworth Building (Watertown, New York) bottom floor of the building in the ensuing years, while the upper five floors remained occupied by various business offices. In 2007, declining occupancy and poor maintenance led to the building's closure. In 2008, a developer purchased the building, with hopes of converting it into a boutique hotel, which would bear the Woolworth name. This plan was abandoned in 2012 in favour of a proposal to transform the upper floors into low-income residential apartments. , the interior was in poor condition. Restoration work began in November 2013 and was expected to continue into 2015. As of early 2015 the restoration