Sun. Dec 4th, 2022

JLL Capital Markets has been retained to promote 245 West fifty fifth St., a 12-story business loft constructing in Midtown that was dwelling to the legendary DuArt movie processing firm for almost 100 years.

DuArt was based by Al Younger within the penthouse of 245 West fifty fifth St. when it was
operated as an vehicle storage in 1922. The corporate grew to iconic standing underneath his son, Irwin, who helped administrators together with Spike Lee, Michael Moore and Frederick Wiseman early of their careers, and earned an Academy Award for technological
contributions to the film business in 2000.

For a few years, main studios used DuArt to course of and develop their movie and the
firm’s credit embody such blockbusters as Soiled Dancing, The Cider Home Guidelines and Forrest Gump. The corporate pioneered a lot of filmmaking applied sciences at 245 West fifty fifth St. and, because the business turned from movie to digital processing, Younger made astute investments to assist insulate DuArt from misery, together with buying its headquarters constructing.

Nonetheless, simply previous to his demise in February 2022, DuArt introduced it was ceasing media providers operations and deliberate to place its long-time dwelling up on the market. The 69,168-square- foot workplace constructing is located a number of blocks south of Central Park and has 60 toes of frontage alongside West fifty fifth Road between eighth Avenue and Broadway.

Constructed in 1914, the constructing has unique uncovered brickwork and ceiling heights starting from 12 toes and 5 inches to over 16 toes. Floorplates are roughly 5,961 sq. toes, and there are two passenger elevators along with a freight elevator.

The JLL crew representing the vendor consists of New York Funding Gross sales Chairman Bob Knakal, Managing Director Jonathan Hageman, Administrators Luca Cobucci and Harry

Hochman and Associates Kevin Campfield and Jacob Russell.

“We’re honored to convey this iconic property in one in all Manhattan’s most energetic
neighborhoods to market,” mentioned Knakal. “It presents a chance for buyers to
instantly reposition the asset right into a first-class boutique workplace or to make the most of versatile zoning to transform to residential use.”

245 West fifty fifth St. enjoys a major location inside three blocks of eight prepare strains, whereas additionally providing shut proximity to lots of New York Metropolis sights, comparable to Carnegie Corridor, Radio Metropolis, Rockefeller Middle and Central Park. Its neighbors within the Theater District embody a number of recording studios, document label places of work, theatrical companies, tv studios, eating places, film theaters and inns.

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