Notes

Bayrock Group: New York's Real Estate Giant Is Rising (Tevfik Arif)

Trump SoHo was opened by Bayrock Group in 2008, together with the Trump Organization (the Trump Organization) and the Sapir Organization.

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

Bayrock Group launched Trump SoHo together with the Trump Organization and Sapir Organization in 2008. Bayrock Group's success begins in Kazakhstan, decades before.

Bayrock Group was established in 2001, however the story of its growth and success luxury real estate development company in the United States is much older than the year 2001. The story starts from the other end.

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

Prior to being appointed to the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned an education from the Moscow Trade and Economic Institute in International Relations.

He was in the ministry for 17 years before the minister resigned to establish various of his own firms. Tevfik Arif was involved in development of luxury real estate foods, exports, food and imports among others.

Through his various companies, Tevfik Arif acquired a wide array of worldwide partners. He was a networker that drove his company to Turkey in 1993, where he became one of the first to be behind Turkey's concept of an all-inclusive hotel.

He launched, for example for instance, the Labada Hotel Antalya. This was before he moved on to his next venture, that was a couple of years later, across the Atlantic.

Bayrock Bayrock Group gets more ambitious

Tevfik Arif moved to the United States in 2001 to explore new avenues for business and also to be closer to his American part of his family.

Tevfik Arif Bayrock After moving, he founded the development company for luxury real estate Bayrock Group in New York City.

At first, Bayrock Group executed small to medium-sized projects within and around New York. Bayrock Bayrock Group, for example revamped Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was an excellent start. It allowed Tevfik Arif more ambition. Tevfik Arif Doyen He was looking for bigger projects, so his company's approach was changed to focus on them.

Bayrock Group, New York City's office moved to the Trump Tower on Fifth Avenue as part of its new strategy.

The move was more successful than moving to a new location as the company found itself in the vicinity of Trump Organization. The building was also home to the internationally renowned family company.

Trump SoHo comes to life

The Trump Organization and Bayrock Group had the same vision for high-end real estate projects. Thus both companies have 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 Ariff was aware that incorporating the Trump Organization in the project could boost brand recognition for the building, something Bayrock Group and Sapir Organization didn't have.

Arif created an agreement that gives the Trump Organization 18% ownership of the building, in exchange for the Trump brand's usage.

The agreement was negotiated by Bayrock Group as well as the Trump Organization (and the Sapir Organization).

This was the start of the construction project Trump SoHo's in 2006.

The building was completed after two years of hard work.

Design professionals are the architects behind Trump SoHo

Trump SoHo included apartments, the hotel's restaurant, luxurious eateries bars, lounges, a pool and restaurant, spa, and banquet rooms. The guests of the hotel enjoyed unbeatable views of New York City from the ceiling-to-ceiling windows.

Tevfik Arif Bayrock Handel Architects was tasked as the architect. This architecture firm was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel Washington, D.C.

Bayrock Group commissioned Rockwell Group as interior designers.

https://www.bisnow.com/tags/bayrock-group Tevfik Arif Bayrock Rockwell Group is responsible for creating, among other things among other things, the Climate Pledge Arena (Seattle) The Seven Deadly Sins Playhouse in New York, as well as the Virgin Hotel in Las Vegas.

The company also has experience working with foreign countries, including Mexico, Spain, and Indonesia.

Bayrock Group, Trump Organization strengthen their collaboration

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

Their vision was to design structures that were located in Arizona and Florida that looked like Trump SoHo. Trump Organization also received 18 percent equity in the building with the same license terms. This would also pave the way for "Trump" being part of the name of the building.

Despite their lofty goals they were not built in the wake of the global financial crisis of 2008.

The crisis especially hit the American real estate market, and resulted in the Bayrock Group and the Trump Organization to stop their plans.

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

He was employed in the private sector during the time he was there.


Tevfik Alif has resigned as Bayrock Group's chief executive. But, he remains an expert consultant for Bayrock Group.

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



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