Michael J. Fox Foundation Moving to RXRs 530 Fifth Avenue

Michael J. Fox’s nonprofit dedicated to Parkinson’s disease research is heading to Fifth Avenue.

The actor’s Michael J. Fox Foundation is taking 69,000 square feet at RXR’s 530 Fifth Avenue in Midtown Manhattan, the Commercial Observer reported. The organization is relocating its headquarters and downsizing from 111 West 33rd Street, where it signed a lease for 86,000 square feet a decade ago.

The asking rent and lease duration were not disclosed. Asking rents at the building hovered around $80 per square foot as of January 2025.

Savills’ Kirill Azovtsev, Shay Bolton and Meghan Marchini represented the tenant in the deal, while a CBRE team including Paul Amrich, Neil King and Meghan Allen represented ownership.

Other tenants at the 26-story property include Cyprus Creek Renewables, the New York City Police Foundation, Arbiter Partners Capital Management and flex space provider Convene.

Early last year, Sagehall joined Scott Rechler’s firm as an equity partner at the 475,000-square-foot building, which was 85 percent occupied at the time. The partners recapitalized, injecting $70 million into the building while also taking out a five-year, $110 million loan facility from ING Capital.

Sagehall, a fund managed by former Extell Development chief executive officer Sush Torgalkar, made news recently when it purchased a 200,000-square-foot retail property at 750 White Plains Road in Scarsdale from Saks Global for $80 million.

RXR made its own news in Westchester County this week when the firm and partner Korman Communities secured $269 million in refinancing from Blackstone Real Estate Debt Strategies and Canyon Partners Real Estate for the Hamilton Green complex in White Plains.

— Holden Walter-Warner