The Chrysler Building is a skyscraper and distinctive symbol of New York City, standing 1,046 feet (319 m) high on the east side of Manhattan at the intersection of 42nd Street and Lexington Avenue. Originally built for the Chrysler Corporation, the building is presently co-owned by TMW Real Estate and Tishman Speyer Properties. The Chrysler Building was the first structure in the world to surpass the 1,000 foot (305 m) threshold. It was overtaken by the Empire State Building as the tallest building in the world in 1931, and is now the second tallest tower in New York City.