Notes

Bayrock Group: New York Real Estate Giant: The rise and fall of Bayrock Group (Tevfik arif)

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

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

Bayrock Group opened Trump SoHo along with the Trump Organization and the Sapir Organization in the year 2008. The Bayrock Group's success started in Kazakhstan years earlier.

Bayrock Group's success as a prestigious real-estate development firm in the United States began long before 2001. The story began on the other side the world.

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

Before becoming a member of the Soviet Ministry of Commerce and Trade in the Soviet Union, Tevfik earned a degree at the Moscow Trade and Economic Institute.

He was a minister for 17 years, and later went on to start his own company. Tevfik Arif was involved in the development of luxury real estate, food, exports and imports among other.

Tevfik Arif, through his various businesses, was able to acquire a wide variety of foreign partners. It was his networker, and drove him to Turkey in 1993, where he became one of the first to be behind Turkey's concept of an all-inclusive hotel.

He opened, for example, the Labada Hotel Antalya. This was before he moved on to his next venture, that was a couple of years later across the Atlantic.

Bayrock Group grows more ambitious

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

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

Bayrock Group was a small and medium-sized firm that started in New York. Bayrock Group redesigned Loehmann's Seaport Plaza, Brooklyn's shopping district.


Bayrock Group was off on an impressive beginning. This made Tevfik even more determined. He wanted bigger projects and altered the approach of the company to be more focused.

To support the new strategy, Bayrock Group relocated its New York City office to the Trump Tower at Fifth Avenue.

The move yielded significantly more than any other location. The company relocated near to the Trump Organization. The renowned family business was headquartered in the same location.

Trump SoHo is now in form

Bayrock Group was inspired by Trump's plan to develop high-end real estate properties and so they decided to work together.

Tevfik Arif Bayrock Bayrock Group was already working with the Sapir Organization on another undertaking in Manhattan's SoHo Quarter, which is located on Spring Street.

Tevfik Arif Doyen Tevfik Arif knew that the Trump Organization's inclusion to this project would give the building an identity that Bayrock Group or the Sapir Organization didn't have.

Arif created an agreement that gives the Trump Organization 18% ownership in the building in return for the Trump brand's use.

The proposed deal was accepted by Bayrock Group (the Trump Organization) as well as the Sapir Organization (the Sapir Organization).

https://m.imdb.com/name/nm10842495/mediaviewer/rm2948766977 The doors opened to Trump SoHo, which would be the first brick laid in 2006.

Tevfik Arif Bayrock After two years of work, the building was ready and was awaiting its opening.

Trump SoHo was built by design professionals

Trump SoHo had apartments, hotel accommodations, luxury eateries/bars as well as a pool and banquet halls at the time it was opened. Hotel guests could enjoy breathtaking perspectives of New York City through the building's floor-to-ceiling windows.

Handel Architects was tasked with designing the structure. This architecture firm was responsible for the design of 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 for the interior design.

Rockwell Group is responsible for the design of, among others, the Climate Pledge Arena (Seattle) and the Seven Deadly Sins Playhouse located in New York, as well as the Virgin Hotel in Las Vegas.

In addition, the company has extensive experience abroad in countries like Spain and Mexico.

Bayrock Group and Trump Organization strengthen their partnership

The Trump Organization and the Bayrock Group were looking to broaden their partnership after the opening of Trump SoHo.

Tevfik Arif Bayrock Their dream was for constructions that resembled Trump SoHo, Arizona and Florida. Trump Organization was also granted the same licensing terms and was given an equity of 18% in this construction. This would also pave the way to "Trump" being part of the name of the building.

https://www.dwell.com/collection/tevfik-arif-bayrock-d7c16407 Despite the companies' goals they were not completed due to the global financial crisis of 2008.

The American real estate market was particularly affected by the recession which led Bayrock Group to pull out and Trump Organization to rescind their plans.

The financial crisis was responsible for changing the American real market to such an extent that Tevfik Arif decided to quit his United States undertakings. He decided to move back to Europe or Central Asia.

Tevfik Arif Bayrock He shifted into the private sector, and continued to work.

Tevfik has quit today from his Bayrock Group daily responsibilities. He is still an advisor Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in the past, however it did invest real property assets in the United States worth $2.5million when it was active.



Read More: https://m.imdb.com/name/nm10842495/mediaviewer/rm2948766977