Notes

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

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

Bayrock Group, The Rise of New York Real Estate Giant

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008 along with the Sapir Organization. The Bayrock Group's story of success began in Kazakhstan many decades ago.


Bayrock Group was established in 2001, but the tale of the success of the luxury realty development firm in the United States is much older than the year 2001. The story began on the other side.

Tevfik Alif was the founder of Bayrock Group. He was taken to the world from Soviet Kazakhstan to a Turkish-speaking family.

Prior to becoming a member of the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from Moscow Trade and Economic Institute.

After working in the ministry for 17-years the minister decided to step down and set up a number of businesses. Tevfik's ventures included the luxury food, real estate and exports/imports industries and many others.

Tevfik Arif has many companies which have allowed him to acquire a variety of partners across the globe. His network motivated his decision to move to Turkey in 1993. He was the key player in the creation of Turkey's renowned all-inclusive hotel concept.

Bayrock He, for example, founded the Labada Hotel in Antalya before he went on to his next business venture across the Atlantic several years afterward.

Bayrock Group is becoming more ambitious

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

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

Bayrock Group began with smallto medium-sized projects throughout New York. Bayrock Group, as an example renovated Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was an excellent beginning. Tevfik Arif Doyen It helped Tevfik arif gain more motivation. He was looking for bigger projects and decided to modify the business's approach to concentrate on that.

Bayrock Group moved its New York City headquarters to Trump Tower Fifth Avenue in to support of the strategic shift.

Tevfik Arif The move ended up yielding substantially more than another area, and it also brought the business located within the vicinity of the Trump Organization. This was the home of the family's world-renowned organization.

https://www.dwell.com/collection/tevfik-arif-theguardian.com-57fba550 Trump SoHo gets shape

The Trump Organization and Bayrock Group had the same vision for luxurious real estate developments. Tevfik Arif Doyen So they decided to merge.

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

Tevfik Arif knew that the inclusion of the Trump Organization to that project would bring brand recognition to the building that Bayrock Group and the Sapir Organization were lacking.

Arif created an agreement giving the Trump Organization 18% equity and the right to utilize the Trump name in exchange.

The three parties to the deal, Bayrock Group and Trump Organization have ratified.

The doors opened to Trump SoHo, which would be the first brick laid in the year 2006.

After two years of hard work the building was completed to be inaugurated.

Design experts are the architects behind SoHo Trump SoHo

Trump SoHo was comprised of rooms, apartments and luxurious bars and eateries. It also had a pool and a spa. From the building's floor–to-ceiling windows hotel guests were able to enjoy unparalleled views over New York City.

Handel Architects was tasked by the design of the construction. 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 designed, among many other structures among other things, among others, the Climate Pledge Arena and the Seven Deadly Sins Theatre in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

International experiences are also available from nations like Spain, Mexico, and Indonesia.

Bayrock Group, Trump Organization strengthen their partnership

After the opening of Trump SoHo, The Trump Organization sought to strengthen their partnership with the Bayrock Group.

Their dream was for buildings that were similar to Trump SoHo, Arizona and Florida. The same licensing terms were employed, which left the Trump Organization with 18% equity. It would once again allow Trump to be named in the name of the building.

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

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

Tevfik arif resigned from his United States enterprises after the financial crisis. He decided to relocate to Europe and Central Asia.

Tevfik Arif He was transferred into the private sector, and continued his employment.

This morning, Tevfik Aif has resigned from the majority of his Bayrock Group responsibilities. However, he is still a respected consultant to the business.

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

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