2005 NETWORKING® MAGAZINE’S DAVID AWARD HONOREE.

FRANK CASTAGNA

Chairman, Castagna Realty Company, Inc.

BY MAUREEN TRAXLER

As principal and partner with his wife Rita
of Castagna Realty Company, Frank
Castagna continues the traditions of his
father’s successful construction company,
Gerace and Castagna Inc., founded in 1922 as a
masonry contracting business. The company grew
quickly into a dynamic general contracting firm, and
built a lasting legacy by specializing in major construction
projects, including hospitals, libraries and
prisons, and such notable structures as the New York
City Police Headquarters, Albert Einstein College of
Medicine, North Shore Hospital in Manhasset,
Nassau Veterans Memorial Coliseum and the
University Hospital at Stony Brook.

After graduating from Widener University (PA) in
1950 with a civil engineering degree, Castagna joined
his father’s company. Five years later, the company
purchased what would become its flagship property
and began the development of Americana Manhasset.
In 1965, the company was renamed Castagna and
Son, Inc.

Some 20 years ago, Castagna recognized the need
for a master plan for the Americana Manhasset property,
which, he says, at the time “consisted of a J.J.
Newberry store and a couple of supermarkets.” This
plan and his intellectual partnership with architect
Peter Marino resulted in today’s internationally recognized
luxury-brand shopping destination with

such retail boutiques as Chanel, Hirshleifer’s, Cartier,
London Jewelers, Giorgio Armani, Hermes, Louis
Vuitton, Burberry, Ralph Lauren and Tiffany & Co. In
1980, the company developed Wheatley Plaza in
Greenvale, a 1982 Annual Shopping Center Award
winner for its innovative design and construction.

Through Castagna’s leadership and vision, the
company has moved beyond general contracting and
has channeled its energies solely in real estate,
becoming a well known name in the New YorkWestchester-
Long Island area. Today, Castagna says
the company “builds for its own account, manages
properties, and has been active in entering into joint
ventures.” Yet to every project, Castagna brings the
company’s commitment to quality and dedication to
the development of profitable, environmentally
responsible projects that enhance the community.

Two projects in northern Westchester County
demonstrate Castagna’s desire to develop environment-
conscious properties. The Brady Brook Falls residential
community in Pawling’s historic Quaker Hill
includes three miles of private riding trails, fly fishing
and over 100 acres of open space. Rock Rim Ponds,
an award-winning residential development, features
ponds, streams, footpaths, designated green space
and private nature preserve.

On Long Island, Castagna’s joint venture with the
Albanese Organization has resulted in the redevelop

ment of commercial property on Franklin Avenue in
Garden City. Together, the two family owned businesses
worked with the Village of Garden City to
complete a streetscape beautification project and the
redevelopment of historic buildings. Through another
joint venture partnership, Castagna’s company is a
partner with the Hess organization in a 200,000
square foot office building in New Hyde Park adjacent
to the Northern State Parkway, and is planning
an additional 200,000 square foot office building in
the same area.

“There’s been a general up-tick in the economy on
the Island in the last couple of years with a relatively
low unemployment rate,” says Castagna.
Knowledgeable of local construction trends, he notes
that “Long Island’s currently experiencing a period of
conversions of older office buildings in efforts to
upgrade the structures and make them more viable in
the marketplace.” Home construction and renovations
are accelerating because of the number of aging
homes built following World War II. The current
trend, he says, will continue, “as long as the local
economy can support it.”

Over the years, Castagna has developed a strong
sense of commitment to, and concern for, the communities
in which he does business. His community
service focuses on areas he considers “key to communities”
– hospitals, children’s programs, health services,
education and cultural institutions.

After serving a two-year term as president of the
Board of Trustees of the Nassau County Museum of
Art, Castagna is currently senior vice president of the
Board of Directors, and is a major player in the proposed
expansion wing that would include art galleries,
an auditorium and classrooms. In addition to
serving on the Board of the Institute for Student
Achievement, Friends Academy and National Center
for Disabilities Services, he is a member of the Board
of Directors of Old Westbury Gardens, the Anti-
Defamation League and Honors College at Hofstra
University, and is chairman emeritus of the Council
of Overseers for Tilles Center for the Performing Arts.
In October 2004, Castagna was recognized by the
American Jewish Committee, and received the AJC’s
prestigious Human Relations Award. He was also
awarded an honorary doctorate degree in humane
letters, and Castagna Realty was named Family
Business of the Year, by Long Island University.

Six years ago, Castagna initiated Americana
Manhasset’s Champions for Charity®, one of the first
efforts of its kind to harness the revenues of the holiday
season and direct dollars to nonprofit organizations.
Through Champions for Charity® shoppers
may designate 25% of their purchase receipts as
donations to charities of their choosing. In the 2004
holiday season, the event benefited some 80 Long
Island charities.

Castagna’s personal commitment to service is
reflected by his 35 employees who participate in the
company’s charity events. One of the very special
events is the fashion show they have been producing
for the past 12 years at the luncheon to benefit North
Shore-LIJ Health System’s Partner’s Council for
Women’s Health.

Castagna Realty remains a family affair, with
Frank’s wife Rita and daughter Catherine, the third
generation, serving as partners. Catherine and her
husband Joseph have four sons, Brian, Michael,
Mario and Frank. The Castagnas, who also have a son
Fred, have lived in Brookville for 45 years, and enjoy
golf, tennis, traveling, friends and spending time with
their family.

NETWORKING® January 2005