Notes

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

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

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

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). Bayrock Group was founded in Kazakhstan in the year 1980.

The story of the luxurious real estate development firm Bayrock Group's successes in the United States begins long before the firm's founding in 2001. At first, the story begins in another part of the globe.

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

Tevfik Arif earned an education in International Relations from the Moscow Trade and Economic Institute prior to joining the Soviet Ministry of Commerce and Trade.

He was in the ministry for 17 years before left to create a number of his own companies. Tevfik Arif owned several firms which were involved in high-end real estate development, food exports, and imports.

Tevfik Arif was able to create numerous international partnerships through his various companies. 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.

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

Bayrock Group grows more ambitious

Tevfik Arif moved to the United States in 2001 to pursue new business opportunities and be closer to his American family.

Just after moving, he established the luxury real estate development firm Bayrock Group in New York City.

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

Bayrock Group was a solid beginning. It helped Tevfik become more determined. He was eager for larger projects and decided that he would alter the strategy of the company to concentrate more on those.

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

https://www.linkedin.com/in/erkantevfikarif The move was able to yield significantly more than the other location, as it got the business in the vicinity of the Trump Organization. It was home to the world-renowned family business.

Trump SoHo is now in shape

Bayrock Group and Trump Organization have the same goals for luxury real-estate projects. Both companies agreed to join forces.

Bayrock Group had already begun work on a new project in the Manhattan's SoHo neighborhood on Spring Street with the Sapir Organization.

Tevfik Arif knew that the Trump Organization's participation in this project could give the building an identity which Bayrock Group or the Sapir Organization didn't have.

Arif made an agreement in which he gave the Trump Organization 18% equity in this building in return in exchange for the Trump brand being used in its name.

Bayrock Group, the Trump Organization and the Sapir Organization all agreed to the proposed deal.

That paved the way for the first brick of what would later become Trump SoHo to be laid in the year 2006.

After two years of work The building was completed and waiting for its inauguration.

Trump SoHo was designed by design professionals

At the time of its opening, Trump SoHo consisted of apartments, hotel rooms luxurious bars and restaurants, a pool, a spa, banquet and event halls. Through the hotel's floor-to- ceiling windows, guests could take in breathtaking views of New York City.

Handel Architects was tasked by the design of the construction. The renowned architectural firm also designed the National September 11th Memorial & Museum, New York City as well as the Ritz Carlton Hotel, Washington D.C.

Bayrock Group employed Rockwell Group to take care of the interior design of the building.

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

The company also has international experience from countries like Indonesia, Mexico and Spain.

Bayrock Group and the Trump Organization expand the partnership


The Bayrock Group and Trump Organization were looking to expand their partnership in the wake of the opening of Trump SoHo.

Their goal was to build buildings in Arizona or Florida like Trump SoHo. They also had the same licensing rules, leaving the Trump Organization with 18% equity in the building. This opens the door to Trump being named in the building's name.

Despite the ambitions of both companies, the structures weren't constructed due to the 2008 global financial crisis.

https://www.facebook.com/pages/category/Nonprofit-organization/Tevfik-Arif-Bayrock-258754714625630/ The American real estate market was especially hit by the crisis. Bayrock Group, and the Trump Organization were forced to stop their plans.

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

https://www.charlesbridge.com/pages/fiona-bayrock He shifted into the private sector, and continued to work.

Tevfik Arif has resigned from the majority of his daily duties for Bayrock Group today. Bayrock Tevfik Arif Doyen He remains a trusted consultant to the business.

Bayrock Group was not involved in any American Real Estate ventures recently, however, Bayrock Group has invested $2.5 million in real estate assets in the United States when it was actively investing.



Here's my website: https://www.facebook.com/pages/category/Nonprofit-organization/Tevfik-Arif-Bayrock-258754714625630/