At 1,046 feet (318.9 m), the structure was the world's tallest building for 11 months before it was surpassed by the Empire State Building in 1931. It is the tallest brick building in the world with a steel framework. As of 2015, the Chrysler is the fifth-tallest building in the city.
Originally a project of real estate developer and former New York State Senator William H. Reynolds, the building was constructed by Walter Chrysler, the head of the Chrysler Corporation, and served as the corporation's headquarters from 1930 until the mid-1950s. The Chrysler Building's construction was characterized by a competition with 40 Wall Street and the Empire State Building to become the world's tallest building. Although the Chrysler Building was built and designed specifically for the car manufacturer, the corporation did not pay for its construction and never owned it, as Walter P. Chrysler decided to pay for it himself, so that his children could inherit it.
When the Chrysler Building opened, there were mixed reviews of the building's design, ranging from its being inane and unoriginal to that it was modernist and iconic. Perceptions of the building have slowly evolved into its now being seen as a paragon of the Art Deco architectural style; and in 2007, it was ranked ninth on the List of America's Favorite Architecture by the American Institute of Architects.