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Bayrock Group: New York's Real Estate Giant Is Rising (Tevfik Arif)

Bayrock Group, the Trump Organization and the Sapir Organization inaugurated Trump SoHo in 2008.

Bayrock Bayrock Group: New York's Real Estate Giant is Rising

Bayrock Group launched Trump SoHo together with the Trump Organization and Sapir Organization in 2008. However, the story of Bayrock Group's success starts in Kazakhstan decades before.

Bayrock Group is a luxury development company that is specialized in the area of luxury real estate. Tevfik Arif Doyen The success of Bayrock Group here in the United States goes back long before its 2001 establishment. It all began on the other side of the planet.

Tevfik Arif was the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by an Turkish family.

Before joining the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned an academic degree from the Moscow Trade and Economic Institute in International Relations.

After 17 years in the ministry, he decided to create his own business. Tevfik Arif's business ventures were in the luxury real estate, food, and exports/imports sectors, among others.

Bayrock Tevfik Arif was able to establish many international partnerships through his various businesses. His connections brought him to Turkey in 1993 where he was one of the leading figures behind Turkey's famous all-inclusive hotels.

He also opened, for instance the Labada Hotel Antalya. This was before he went on to the next project which was several years later, across the Atlantic.

Bayrock Group grows more ambitious

Tevfik Alif emigrated to the United States to seek new business opportunities, and to be closer to his American family in 2001.

He moved to New York City just after the creation of Bayrock Group, a luxury real estate development firm.

Tevfik Arif Bayrock Group began with small- to medium-sized projects around New York. Tevfik Arif Bayrock For instance, the firm revamped the Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was a solid start. It helped Tevfik become more determined. He wanted to take on larger projects and made the decision to alter the strategy of the company to concentrate on this.

Bayrock Group moved its New York City office to Trump Tower on Fifth Avenue to coincide with the change in strategy.

The move ended up yielding significantly more than the other site, since it landed the company within the vicinity of the Trump Organization. The Trump Organization was home to the world-renowned family business.

Trump SoHo comes to life

Bayrock Group and Trump Organization shared the same vision for luxurious real estate projects. The two companies decided to collaborate.

Bayrock Group was already involved in another project at Spring Street in Manhattan's SoHo district with the Sapir Organization.

Tevfik Arif knew that the addition of the Trump Organization to that project would add brand recognition to the building which Bayrock Group and the Sapir Organization were lacking.

Arif wrote an agreement that gave the Trump Organization 18% equity in the building in exchange in exchange for the Trump brand being used to promote its name.

All three parties to the deal, Bayrock Group and Trump Organization were in agreement.

The doors opened to Trump SoHo, which would be the first brick laid in 2006.

The building was completed after two years of hard work.

Trump SoHo was built by design experts

Trump SoHo included apartments, the hotel's restaurant, luxurious eateries bars, lounges, a pool and a restaurant, spa and banquet rooms. The hotel guests had unparalleled views of New York City from the ceiling-to-ceiling windows.

Handel Architects was tasked with the design of the building. The firm's architect was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel Washington, D.C.

Bayrock Group hired Rockwell Group to create the interior of the building.

Rockwell Group designed, among many other structures among other things, among others, the Climate Pledge Arena and the Seven Deadly Sins Theater in Seattle. The Virgin Hotel in Las Vegas was also designed by the group.

Furthermore, the firm has extensive international experience in countries such as Spain and Mexico.

Bayrock Group expands partnership with the Trump Organization

Following the opening of Trump SoHo, the Trump Organization and Bayrock Group wanted to increase their partnership.

Their dream was to build buildings like Trump SoHo in Arizona and Florida. They also had the same licensing terms, leaving the Trump Organization with 18% equity in the building. This will allow Trump to be added in the building's name.

Despite both companies' goals, the structures weren't constructed due to the 2008 global financial crises.

The American realty market was particularly hit by the crisis. Bayrock Group, and the Trump Organization were forced to end their plans.

The financial crisis resulted in altering the American real market to such an extent that Tevfik Arif decided to quit his United States undertakings. Bayrock He chose to go back to Europe and Central Asia.

He was employed in the private industry while his time there.

Tevfik Alif has resigned his position as Bayrock Group's chief executive. However, he continues to be a trusted advisor to Bayrock Group.

Tevfik Arif Doyen Bayrock Group has not been involved in any American real estate ventures in recent times however, when it was in the market the firm was investing in real estate assets valued at $2.5 million in the United States.


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