Notes

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

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

Bayrock Group: New York's Real Estate Giant is Rising

Bayrock Group opened Trump SoHo along with the Trump Organization in 2008 and the Sapir Organization. Bayrock Group was founded in Kazakhstan in 1980.

The story of the luxurious real estate development company Bayrock Group's successes in the United States begins long before the company's establishment in 2001. The story starts from the other end.

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


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

He was in the ministry for 17 years before left to establish several of his own companies. Tevfik Arif owned several firms that dealt with luxury realty development, food exports, and imports.

Tevfik Arif has many companies which have enabled him to gain a wide range of partners across the globe. His connections led him to Turkey in 1993. He was one of the most prominent people behind Turkey's famed all-inclusive hotels.

For instance, he launched the Labada Hotel Antalya, before going on to his next venture across the Atlantic several more years later.

Bayrock Group gets more ambitious

Tevfik arif moved to the United States from Pakistan in 2001 to investigate new business opportunities and be closer his American family.

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

Bayrock Group started out with small to medium-sized jobs in New York. Bayrock Group, for instance, remodeled Loehmann’s Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was a solid beginning. It made Tevfik more driven. https://tamildada.info/tevfik-arif-advice-on-investing-in-turkish-real-estate/ He was looking forward to bigger projects and decided to alter the strategy of the company to focus more on these projects.

Bayrock Group, New York City's office has moved to Trump Tower on Fifth Avenue in line with its new strategy.

The move was more successful than moving to another site since the company located itself in the vicinity of Trump Organization. It was home to the family's world-renowned organization.

Trump SoHo comes to life

Bayrock Group & Trump Organization shared a vision of luxurious real estate projects. Therefore, they decided to combine forces.

Bayrock Group was already involved in another project on Spring Street in Manhattan's SoHo district with the Sapir Organization.

Tevfik Alif was aware that adding the Trump Organization to the project would add brand awareness to the building which Bayrock Group lacked and that the Sapir Organization was lacking.

Arif came up with an arrangement that permitted the Trump Organization to own 18% of the building, in exchange for the Trump logo being used.

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

This was the opening to the first Trump SoHo brick to be laid in the year 2006.

After two years of work The building was completed and was awaiting its opening.

Tevfik Arif Doyen Trump SoHo construction is led by experts in design

Trump SoHo had apartments, hotel accommodations, luxury eateries/bars with a swimming pool, and banquet halls at the time it was opened. Hotel guests had unbeatable views of New York City through the glass ceilings of the hotel.

Handel Architects was tasked by the design of the structure. The famed architectural firm also created the National September 11th Memorial & Museum, New York City, and the Ritz Carlton Hotel in Washington D.C.

https://www.crunchbase.com/organization/bayrock Bayrock Group hired Rockwell Group for the interior design.

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

https://www.expedia.com/Puerto-Plata-Hotels-Bayrock-C-3.h24421694.Hotel-Information The company has also international experience, including from Mexico, Spain, Indonesia and Mexico.

Bayrock Group and Trump Organization strengthen their partnership

After the opening of Trump SoHo, The Trump Organization wanted to build on their partnership with Bayrock Group.

Their vision was to construct buildings that resembled Trump SoHo in Florida and Arizona. Tevfik Arif Doyen Trump Organization would have 18% equity in the building and would be licensed under the same conditions. This will permit Trump to be added in the building's name.

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

The American real estate market was particularly affected by the crisis and Bayrock Group and Trump Organization had to pull their plans.

Tevfik Anif opted to leave his American enterprises due to the financial crisis. He decided to move to Europe and Central Asia.

He continued to job in the private sector.

Tevfik has quit today from his Bayrock Group daily responsibilities. Tevfik Arif Doyen But, he remains an expert consultant for the company.

Bayrock Group is not currently involved in American real estate ventures. In the past during the time when the company was active, it invested real estate assets that were valued at $2.5 million in the United States.



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