JLL Markets Longtime Home of DuArt Film Processing Labs

JLL Capital Markets has been retained to sell 245 W. 55th St., a 12-story commercial loft building in Midtown that was home to the legendary DuArt film processing company for nearly 100 years. The JLL team representing the seller includes New York investment sales chairman Bob Knakal, managing director Jonathan Hageman, directors Luca Cobucci and Harry Hochman and associates Kevin Campfield and Jacob Russell. 

DuArt was founded by Al Young in 1922. The company grew to iconic status under his son, Irwin, who helped directors including Spike Lee, Michael Moore and Frederick Wiseman early in their careers, and earned an Academy Award for technological contributions to the movie industry in 2000. 

For many years, major studios used DuArt to process and develop their film and the company pioneered a number of filmmaking technologies at 245 W. 55th St. As the industry turned from film to digital processing, Young made investments to help insulate DuArt from distress, including acquiring its headquarters building. 

However, just prior to Young’s death last February, DuArt announced it was ceasing media services operations and planned to put its longtime home up for sale. “We are honored to bring this iconic property in one of Manhattan’s most active neighborhoods to market,” said Knakal. “It presents an opportunity for investors to immediately reposition the asset into a first-class boutique office or to utilize flexible zoning to convert to residential use.”