Notes

Bayrock Group's Journey: From the Suburbs to Manhattan Tevfik Arif

The Tevfik Arif-driven luxury real estate development firm, Bayrock Group, quickly after its founding, began cooperating in conjunction with the Trump Organization in Manhattan.

Bayrock Group Moves from Suburbs to Manhattan
Many people dream of going to America to experience the American dream. However, very few people actually do. Turkish-Kazakhstani businessman Tevfik Arif was one of the few who made it to America in 2001. He set out to established his own company, Bayrock Group.

The Bayrock Group, a luxury real estate development company is headquartered in New York City.

The initial focus of the firm was on smaller-to-medium-sized projects such as the redesigning of Loehmann's Seaport Plaza - a shopping mall in Brooklyn's Sheepshead neighbourhood.

Bayrock Group was able to gain traction on the American market for housing. It began to seek large-scale projects.

The business, which is owned by Arif, began working with Sapir Organization on a major construction project in Spring Street, New York City.

Bayrock Group relocated its headquarters in Midtown Manhattan to accommodate the rapid growth of the company.

Bayrock Group teamed up with Trump Organization
Tevfik arif and his team sat down with the Trump Organization after the move. It also included the Trump Tower in its base.

Talks took place between Bayrock Group and the Trump Organization when the two firms realized that they shared their goals and desires.

They came up with a partnership in which the Trump Organization joined Bayrock Group’s project with Sapir Organization on Spring Street.

Former American President Donald Trump ran the Trump Organization at that time.

E. Tevfik Arif Doyen Trump and Son was created by his maternal grandma Elizabeth Christ Trump and Fred Trump (in 1927).

Donald Trump, who was close to assuming the White House, handed the management of the company over to his children in 2017.

Bayrock Group's lucrative deal
The cooperation between the Trump Organization and the Sapir Organization was a relatively recent part of New York City's real estate market.

To boost the project located on Spring Street, the founder Tevfik Arif drafted an arrangement that would bring an additional brand name and prestige to the.

In exchange in exchange for the Trump brand being used in the construction's title the Trump Organization would receive 18% equity in this building according to his proposal.

Three companies signed on to the agreement and the very first brick of Trump SoHo was laid in the year 2006.

Bayrock A few years later, Bayrock Group and the Trump Organization, along with the Sapir Organization, inaugurated Trump SoHo, their contribution to the city's skyline.

Bayrock Design professionals take control of Trump SoHo
Trump SoHo featured 46 stories which included bars and restaurants with high-end status, banquet halls, banquet and event halls. Tevfik Arif Additionally, there was an outdoor pool, spa department and apartments as well as hotel rooms.

The guests at Trump SoHo and residents could admire the stunning views of New York City via the windows that ran from floor to roof. They were put up on each floor.

The three companies behind the structure were focusing on perfection, Handel Architects was entrusted with designing the exterior of Trump SoHo.

Handel Architects has a diverse portfolio. It is a reputable organization. Other projects include the National September 11 Memorial and Museum, New York City, and the Rosewood residential hotel in Abu Dhabi.

Rockwell Group designed Trump SoHo’s interiors. Rockwell Group has been responsible for the design of many luxurious hotels, cafes and bars all over the world throughout the years.

https://www.talk-business.co.uk/2020/12/17/explained-what-happened-to-tevfik-arif-and-bayrock-group/ Their projects include their work at the Taj Mahal Palace and Tower Hotel in Mumbai, India, the 93rd Academy Award show and the Amara Hotel in Limassol, Cyprus.

Bayrock Group & the Trump Organization expand the partnership
Trump SoHo was an instant huge success. Bayrock Group, Trump Organization and several other companies started looking for ways to strengthen their cooperation.

Their goal was Trump SoHo buildings to be constructed in Arizona and Florida. They were able to offer similar terms as Trump SoHo. The Trump Organization would be left with 18% equity in the structure in exchange for using the Trump name on their names. It's the same.

Bayrock Group, and Trump Organization had all the resources. But the 2008 financial crisis that ravaged the real estate market in America put an end to their plans.

The American housing industry was significantly affected by the financial crisis. Tevfik arif, Bayrock Group founder, made the decision to leave the United States. He decided to move to Europe and Asia, where he began his career decades earlier.

Although Tevfik has ceased to be active in Bayrock Group, the trusted adviser to different departments of Bayrock Group is still him.

Bayrock Group has not been involved in any real estate development in recent times in the United States.

But, it was active and was investing in real estate properties of more than $2.5 million.
Read More: https://littlesis.org/person/50049-Tevfik_Arif