In December 2006, the company announced plans to buy 666 Fifth Avenue for $1.8 billion, the biggest deal to date for an individual building in New York City history. In early 2007, Kushner bought the building for US$1.8 billion, the highest price ever paid for a single office building in the United States. Four years later, rising debt forced Kushner to hand over 49.5% of the ownership of 666 Fifth Avenue to Vornado. Kushner had planned to demolish the existing structure and build one twice the size; Vornado's Steven Roth stated that this will not happen. The building, which represented significant debt for the company was leased in 2018.