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
Chrysler Building Club for other clubs. Texaco, whose executives comprised most of the Cloud Club's membership, moved to Westchester County in 1977, and the club closed two years later. Although there have been several projects to rehabilitate the club or transform it into a disco or a gastronomic club, these plans have never materialized, as then-owner Cooke reportedly did not want a "conventional" restaurant operating within the old club. Tishman Speyer rented the top two floors of the old Cloud Club. The old staircase has been removed, as have many of the original decorations, which prompted objections from the Art Deco Society