Building a Fortune
Charles studied medicine at Cornell University, earned his degree as a Doctor of Medicine, and was undergoing his internship about the time his father became ill. He never had the opportunity to practice medicine because he and Joseph had to complete the projects started by their father, John (Giovanni). When these were completed , they formed their own construction company, Paterno Brothers, Inc. (Michael and Anthony did not enter the construction business at that time.)
The Paterno Brothers built several three-story apartment buildings, then moved on to West End Avenue and began constructing high rise apartment buildings. They were very successful and could then afford to move the family to a better neighborhood. They built two large duplexes on Northern Avenue (near 185th Street) and in 1906 the “whole family moved there and said goodbye to Cherry Street.” Paterno Brothers, Inc. flourished for over 12 years until the partnership was dissolved. Joseph retained the Company, and everyone, together or individually, continued to be very successful. About 1908, the entire family contributed money and under Saverio’s supervision, built a beautiful mausoleum in the cemetery in Castelmezzano.
[Paterno Family Architecture Catalog]
Charles also built a mansion on Northern Avenue. The mansion was called “The Castle” as it was constructed from marble brought from a structure in Italy. The castle was magnificent with elaborate wood carvings, marble and terrazzo and contained every convenience and grandeur available at that time.
The family constructed most of the high rise buildings on Riverside Drive from 72nd to 125th Streets, on West End Avenue, and between the streets from Broadway to Riverside Drive. They then moved on to Fifth Avenue, Park Avenue and Sutton Place and were the first to construct co-ops in the City of New York.
In 1926, the Casa Italiana, at Columbia University, was built from donations from a few wealthy Italians, but mostly from funds donated by Joseph and Michael Paterno. Their nephew, John donated his time to supervise the construction and Dr. Charles Paterno donated time and money to equip the library.
Charlie’s “castle” was torn down to make way for the first all-concrete structures in the City. The five buildings, housing 575 families, faced the Hudson River with entrances on Northern Avenue (now Cabrini Blvd.) This complex was called Castle Village and was an unusual feat of construction engineering as the high rise apartment buildings were constructed on the side of the hill going down to Riverside Drive.
From the humble beginnings as immigrants in 1882, the Paterno family became “prominent and powerful pioneer builders of New York City.” Charles became a multi-millionaire and the others were among the wealthiest individuals in New York City. The Paterno name could turn a head wherever it was heard!