In August 2018, Brookfield Properties signed a 99-year lease for the property, effectively taking full ownership of the building. Brookfield paid $1.286 billion for the property, over $500 million less than Kushner had paid a decade before. The deal allowed the senior mortgage to be paid off in full, however, the $300 million "hope note" was written-off entirely. The company planned to invest more than $600 million to overhaul the building with a new lobby, facade and mechanical systems. The purchase attracted controversy since the Qatar Investment Authority (QIA) owned a 9% stake in Brookfield Property Partners, which it had purchased in 2014 for $1.8 billion. However, a spokesperson for the QIA claimed Brookfield acted independently and that "QIA had absolutely no involvement in the 666 Fifth Avenue development."