F. A. O. Schwarz, the legendary toy store on Fifth Avenue, will close its doors July 15, a victim of rising rents and ultraluxury retailing in New York City’s hottest shopping district.

New Yorkers will have to make do with the F. A. O. boutiques inside Toys “R” Us stores or with online shopping.

But F. A. O. Schwarz, which has been a fixture in New York City for 145 years and a character in the 1988 Tom Hanks film “Big,” is actively scouring Manhattan for a new, less costly location.

The company has reportedly looked at a basement space in the 48-story office tower at 1633 Broadway. But no deal has been signed, and it is unlikely that a new store would open before the fall of 2016.