The famous FAO Schwarz toy store on Fifth Avenue will shut down on July 15 because its rent is too high, parent company Toys ‘R’ Us said Friday.

Toys ‘R’ Us plans to reopen the store — which was the setting for the iconic Tom Hanks piano-dancing scene in the 1988 hit flick “Big” — in Midtown and is currently on the hunt for a new, less-pricey location.