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 Group: The Rise of a New York Real Estate Giant

Bayrock Group opened Trump SoHo alongside the Trump Organization in 2008 and the Sapir Organization. Bayrock Group's success began in Kazakhstan years earlier.

Bayrock Group, a luxury real estate developer in the United States, has a long and rich history dating back to 2001 , when the company was established. Initially, the story begins from the other side of the world.

Bayrock Group was founded by Tevfik Arif who was brought into the world by Soviet Kazakhstan to a family of Turkish origin.

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 worked in the ministry for 17 years before he went on to start his own company. Tevfik Arif owned several firms which were involved in luxury realty development, food exports, as well as imports.

Tevfik Arif has many companies that have helped him acquire a variety of partners across the globe. He was a networker, and brought his company to Turkey in 1993 and became one of the first to be in the development of Turkey's all-inclusive hotel concept.

For instance, he launched Antalya's Labada Hotel before embarking on his next venture across the Atlantic some years later.

Bayrock Group takes on more ambitious goals

Tevfik Amir came to America in 2001 to find new opportunities in business and be closer with his American family.

Tevfik Arif Following his move in with his family, he started the luxurious real estate development company Bayrock Group in New York City.

Bayrock Group started out with small to medium-sized jobs located in New York. For example, the company revamped the Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

http://sarap.kz/user/Tevfik-Arif-Doyenkzba872/ Bayrock Group was off to an excellent start, and this made Tevfik arif ever more eager. He wanted bigger projects and altered the approach of the business to focus it on its core business.

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

The move led to much more than another site. It also placed the company in close proximity to the Trump Organization. It was home to the world-renowned family company.

Trump SoHo finally takes shape

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

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

Tevfik Arif Bayrock Tevfik Ariff knew that including the Trump Organization in the project would increase brand recognition for the building, something Bayrock Group and Sapir Organization did not have.

Tevfik Arif Bayrock Arif drafted an agreement granting the Trump Organization 18% equity in the building in exchange for usage of the Trump brand name in its name.

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

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

The building was finally complete to be officially opened after being built over two years.

Trump SoHo construction led by design experts

Trump SoHo included apartments, hotel room, luxury eateries and lounges, as well as bars and a pool, as well as a restaurant, spa and banquet halls. The guests of the hotel enjoyed unbeatable perspectives of New York City from the ceiling-to-ceiling windows.

Handel Architects was tasked by the design of the building. The famous architectural firm also created the National September 11th Memorial & Museum as well as the Ritz Carlton Hotel located in Washington, D.C.

Bayrock Group hired Rockwell Group to design the interior of the building.

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

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

Bayrock Group expands partnership with the Trump Organization

Following the opening in Trump SoHo, The Trump Organization was looking to improve their partnership with the Bayrock Group.

Their dream was to create buildings that were located in Arizona and Florida that looked like Trump SoHo. Also under the same licensing rules, leaving the Trump Organization with 18% equity in the building. This will permit Trump to be added in the building's name.

Despite the plans and ambitions of the companies, the structures could not be built due the global economic crisis of 2008.

The American real estate market was the most affected by the financial crisis, which led Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Anif decided to quit his American enterprises due to the economic crisis. He chose to go back to Europe and Central Asia.

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

Tevfik Arif Doyen Tevfik Arif has resigned from most of his daily tasks for Bayrock Group today. However, he is still a respected consultant to the company.

Bayrock Group is not currently involved in American real estate ventures. However in the past, during the time when the company was operating it was investing in real estate assets valued at $2.5 million in the United States.


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