‘Dont tell Saturday Night Live´: Bill Ackman set to tear down SNL Upper West Side studio for brain research institute plans

American hedge fund manager Bill Ackman is set to demolish the Saturday Night Live building in Manhattan's Upper West Side to pave the way for his ambitious brain research institute, the Ackman Oxman Institute, the billionaire disclosed at the Fast Company Innovation Festival. During an interview with Mansueto Ventures CEO Stephanie Mehta in New York, Ackman divulged his vision to convert a prime Manhattan plot into a center for brain research and medical rehabilitation.

Ackman's foray into the life sciences was spurred by a personal tragedy: his 26-year-old daughter suffered a brain hemorrhage in February 2026. Ackman first announced his plans via an X post on August 19, stating that his Pershing Square Foundation had acquired a nearly empty 400,000 square foot biotech facility on West End Avenue between 65th and 66th Street.

He later revealed plans to purchase an adjoining 120,000 square foot space on 66th Street, reportedly home to a Saturday Night Live studio. While he had previously stated the SNL building would close in December, Ackman withheld further details on its fate until the September 15 panel. Ackman announced, "Don't tell Saturday Night Live yet, but we're going to tear that down.

They'll probably do an episode about me when we tear down the building." The billionaire reportedly spent nearly $260 million on both properties with the intent of creating a sprawling medical research campus. "We have potentially 2.5 million square feet of buildable area where we're going to bring a ton of jobs," Ackman added.