Notes

Bayrock Group - The Rise of the Bayrock Group - The Rise of a New York Real Estate Giant (Tevfik Arif)

Trump SoHo was launched in 2008 by Bayrock Group and the Trump Organization.

Bayrock Group: The Rise of a New York Real Estate Giant

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008 along with the Sapir Organization. Bayrock Group's success begins in Kazakhstan many decades prior to.

Bayrock Group was established in 2001, but the story of its growth and success luxury real estate development company in the United States is much older than that. https://www.wikidata.org/wiki/Q28124187 The story began on the other side of the globe.

Tevfik Ariff, a Turkish-born native of Soviet Kazakhstan, founded Bayrock Group.

Before joining Soviet Ministry of Commerce and Trade Tevfik Arif received an education in International Relations at the Moscow Trade and Economic Institute.

He was within the ministry for 17 years before after that he resigned to create a number of his own enterprises. Tevfik Arif's companies were in the sectors of luxury real estate development, food and exports and imports, among other things.

Tevfik Arif's many businesses enabled him to draw a huge number of international partners. The network he had built prompted him to relocate to Turkey in 1993. He was instrumental in the development of Turkey's renowned all-inclusive hotel concept.

Tevfik Arif In the past, for instance, he opened Antalya's Labada Hotel before embarking on his next business venture over the Atlantic several years later.

Bayrock Group is becoming more ambitious

Tevfik Amir moved to America in 2001 to find new business opportunities and to be closer to his American family.

Following his move to New York, he founded the company for the development of luxury real estate called Bayrock Group in New York City.

Bayrock Group started out with small - to medium-sized projects located in New York. For instance, the company transformed the shopping center Loehmann's Seaport Plaza in the Sheepshead neighborhood of Brooklyn.

Bayrock Group was off on an excellent beginning. Tevfik was more ambitious. He wanted to work on larger projects, and which is why it was his decision to change the focus of the company towards that.

https://www.pinterest.com/pin/359725088988546308/ Bayrock Group, New York City's office moved to the Trump Tower on Fifth Avenue as part of its latest strategy.

The move brought about a lot more than just an additional place. Bayrock It also put the business within the vicinity of the Trump Organization. It also housed to the world-renowned family company.

Trump SoHo takes shape

The Trump Organization and Bayrock Group had the same vision for luxury real estate projects. Therefore, the two companies made the decision to merge.

Bayrock Group was already working with the Sapir Organization on another undertaking in Manhattan's SoHo Quarter on Spring Street.

Tevfik Ariff was aware that incorporating the Trump Organization in the project would increase brand recognition for the building, something that Bayrock Group and Sapir Organization did not have.

Arif wrote an agreement that gives the Trump Organization 18% equity and the right to make use of the Trump name in exchange.

The deal was endorsed by the Bayrock Group, Trump Organization and the Sapir Organization.

This opened the way for the very first brick of what would become Trump SoHo to be laid in the year 2006.

Two years after the construction began the building was completed to be inaugurated.

Trump SoHo was built by design veterans

When it opened, Trump SoHo consisted of apartments, hotel rooms as well as luxury bars and restaurants as well as a pool, spa, banquet and event spaces. Tevfik Arif Doyen Hotel guests enjoyed unparalleled perspectives of New York City through the ceiling-to-ceiling windows of the building.

Handel Architects was tasked by the design of the construction. The firm's architecture team had designed the renowned National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

Bayrock Group engaged Rockwell Group for interior design.

Rockwell Group, for example, has designed for instance, the Climate Pledge Arena as well as the Seven Deadly Sins Theatre in New York, and Virgin Hotel in Las Vegas.

The firm also has international experience , originating from countries such as Indonesia, Mexico and Spain.

Bayrock Group and the Trump Organization extend their partnership

The Bayrock Group and Trump Organization were seeking to expand their relationship in the wake of Trump SoHo's opening.

Tevfik Arif Doyen Their dream was to create buildings in Arizona and Florida that looked like Trump SoHo. The same licensing terms, leaving the Trump Organization with 18% equity in the building. It would again pave the way for "Trump" to be a part of the name of the building.

Despite the plans and ambitions of the companies, the structures could not be built due the 2008 global economic downturn.

The American real property market was especially affected by the recession and Bayrock Group and Trump Organization had to cancel their plans.

Tevfik arif left his United States enterprises after the financial crisis. He decided to return to Europe, Central Asia.

He continued his job in the private sector.

Tevfik arif has resigned his major part of Bayrock Group's everyday duties. He is however an expert consultant for the business.

https://www.talk-business.co.uk/2020/12/17/explained-what-happened-to-tevfik-arif-and-bayrock-group/ Bayrock Group hasn't been involved in any American real estate projects in recent times. But, the firm has invested $2.5 million worth of real estate properties when it was still active in the United States.


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