Michael J. Fox's foundation, which focuses on Parkinson's disease research, has relocated to 530 Fifth Avenue in Midtown, Manhattan.
The actor's non-profit has signed to take 68,958 square feet at the 26-story building that will in turn serve as its new headquarters, according to a report from the Commercial Observer. While the rent terms were not provided in the deal, the news outlet said that the price averaged $80 per square foot in January 2025.
Savills represented the foundation, with CBRE representing the building's landlords, RXR and Sagehall, on the lease.
The move looks like a downsize for the Michael J. Fox Foundation, which in 2016 signed for about 86,000 square feet at 111 West 33rd Street and has operated there since.
"MJFF's occupancy goals aligned perfectly with the repositioning of 530 Fifth Avenue, with both Sagehall and RXR demonstrating a strong commitment to supporting the foundation's mission," Paul Amrich of CBRE said in a statement, according to CO.
In January 2025, Sagehall and RXR recapitalized 530 Fifth Avenue for $180 million, which was separately reported by the CO at the time. The two were planning on investing a combined $70 million into the 475,000-square-foot asset.
The property, which spans a full block of Fifth Avenue, currently features amenities such as a conference center, a new coffee shop, health and fitness programs and co-working spaces. The building is designed to support tenants involved in various sectors, including finance, hospitality, tech, law and creative.
In the first quarter, Manhattan office activity was steady at nine million square feet, just 100,000 square feet below the total posted in the same period a year ago, according to a report from JLL. Also, vacancy dropped by 220 basis points to 13.5 percent.
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