Notes

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 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. The story of Bayrock Group's success begins in Kazakhstan some time ago.

The story of the luxurious real estate development firm Bayrock Group's growth in the United States begins long before the company's establishment in 2001. The story began on the other side of the world.

Tevfik Alif is the founder of Bayrock Group. He was taken to the world from Soviet Kazakhstan to a Turkish-speaking 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 stayed within the ministry for 17 years, and then relinquished his position to establish several of his own businesses. Tevfik Arif had several businesses, including ones in high-end real estate development as well as food and exports or imports.

Tevfik's diverse businesses helped him to attract a large number of foreign partners. Bayrock His network brought him to Turkey in 1993. He was among the key leaders behind Turkey's famous all-inclusive hotels.

For instance, he opened Antalya's Labada Hotel before embarking on his next venture in business over the Atlantic many years later.

Bayrock Group is becoming more ambitious

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

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

Bayrock Group started with small-to medium-sized projects in New York. Bayrock Group redesigned Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off on an impressive beginning. This led to Tevfik becoming more ambitious. Tevfik Arif Doyen He was looking forward to bigger projects and decided that he would modify the business's strategy to concentrate more on these projects.

Bayrock Group moved its New York City offices to Trump Tower on Fifth Avenue to accommodate the new strategy.

The move yielded significantly more than any other site. The company relocated in close proximity to the Trump Organization. It was home to the world-renowned family company.

Tevfik Arif Trump SoHo gets shape

Bayrock Group and the Trump Organization have a common goal of creating luxury real estate projects The two firms decided to join forces.

Bayrock Group was already collaborating with the Sapir Organization to complete another project on Spring Street, Manhattan's SoHo quarter.

Tevfik Arif was aware that addition of the Trump Organization to that project will bring branding to the building, something that Bayrock Group and the Sapir Organization lacked.

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

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

This opened the way for the very first Trump SoHo brick to be erected in the year 2006.

After two years of construction the building was finally ready to be inaugurated.

Trump SoHo was designed by veterans

Trump SoHo was comprised of rooms, apartments and luxury eateries and bars. It also had an indoor pool and spa. The guests of the hotel enjoyed unbeatable perspectives of New York City from the ceiling-to-ceiling windows.

Handel Architects was tasked as the architect. The architect firm had previously developed the famous National September 11th Memorial & Museum (New York City) as well as the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group engaged Rockwell Group to design interiors.

Rockwell Group was responsible for the design of the Climate Pledge Arena in Seattle as well as the Seven Deadly Sins theatre in New York.

International experiences are also available from countries such as Spain, Mexico, and Indonesia.

Bayrock Group and Trump Organization extend their partnership

The Bayrock Group and the Trump Organization wanted to grow their partnership after the opening Trump SoHo.

Their goal was to build buildings that were similar to Trump SoHo, Arizona and Florida. Tevfik Arif Bayrock Trump Organization also received 18% equity in building under the same licensing terms. This could open the way to Trump being named in the building's name.

https://www.pinterest.com/pin/804174077190206036/ Despite the hopes of both firms, the structures weren't built due to the 2008 global financial crisis.


The recession particularly affected the American real estate market, which consequently, forced Bayrock Group and the Trump Organization to abandon their plans.

https://www.latinpost.com/articles/154499/20220316/what-draws-trump-and-bayrock-group-s-tevfik-arif-to-turkey.htm Tevfik arif quit his United States enterprises after the financial crisis. He decided to go back to Europe, Central Asia.

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

Tevfik arif has quit his majority of Bayrock Group's daily responsibilities. He is however a respected consultant to Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in recent times However, during the time it was operating, the firm invested real estate assets that amounted to $2.5 million in the United States.



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