To transform an old black and white image into a colorful masterpiece using Photoshop, you can start by navigating to the Discover panel and selecting Browse > Quick Actions > Colorize old photos. Then, click the Apply button to turn your old black and white image into a colorized one. If you want to try the colorization on a different layer, select the layer you want from the Layers panel and click Refresh to continue. To compare the colorized version with the original black and white photo, click the Show Original icon in the lower left of the Neural Filters panel.
To further refine the colorization, you can use the Brush Tool and select Soft Round as the brush type. Then, click the Foreground Color area of your toolbar to bring up the Color Picker and choose a color you like. Paint over the brick wall to create a consistent backdrop for your skater. If you want to add color to specific areas, you can use the Colorize Neural Filter and adjust the colors and saturation to your liking. Once you are satisfied with the colorization, save the colorized image as a new layer on top of the black and white layer.