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
Musicians Club of New York New York Public Library for the Performing Arts showcasing young artists, both of which were often broadcast on WNYC. Under Koussevitsky's leadership the club also put on multiple concerts showcasing works by women composers, often exclusively American. Koussevitzky resigned the presidency in 1975 for health reasons and was succeeded by Sylvia Rabinof. In 1979, the Musicians Club reincorporated as a non-profit organization and received a grant from the Koussevitzky Foundation. Koussevitzky's involvement in the American International Music Fund (AIM), which administered the Koussevitzky International Recording Award (KIRA), also led to the organization being merged into the Musicians Club a year