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Bayrock Group, The Rise of New York Real Estate Giants (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 Growing

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

Bayrock Group, a luxury real estate developer in the United States, has a long history that goes back to 2001 , when the company was formed. The story begins at the opposite end.

Tevfik Arif was the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by a Turkish 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 was a minister for 17 years before he left to open his own businesses. Tevfik Arif had several businesses which included ones that dealt with luxury real-estate development as well as food and exports or imports.

Tevfik Arif was able to create numerous international partnerships through his many companies. He became a leader in the famous all-inclusive hotel concept through his network.

For example, he opened Antalya's Labada Hotel, before he embarked on his next venture across the Atlantic after several years.

Bayrock Group is becoming more ambitious

Tevfik Amir moved into America in 2001 in search of new business opportunities as well as to be closer to his American family.

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

Bayrock Group started out with small-to-medium-sized jobs located in New York. The company, for instance transformed the shopping center of Loehmann's Seaport Plaza in the Sheepshead area of Brooklyn.

Bayrock Group was off on an impressive start. This made Tevfik even more ambitious. He wanted bigger projects and altered the approach of the business to focus it on its core business.

To help implement the new plan, Bayrock Group relocated its New York City office to the Trump Tower at Fifth Avenue.

The move was able to yield substantially more than another location, as it got the business within the vicinity of the Trump Organization. It was home to the world-famous family organization.

Trump SoHo finally takes shape

Bayrock Group was inspired by the Trump Organization's vision to build high-end real estate properties and so they decided to collaborate.

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

Tevfik Arif Tevfik Arif was aware that the incorporation of the Trump Organization to that project would bring branding to the building which Bayrock Group and the Sapir Organization did not have.

Arif wrote an agreement that granted the Trump Organization 18% equity in the building in exchange in exchange for the Trump brand being used as its brand name.

All three parties in the deal, Bayrock Group and Trump Organization have ratified.

This was the opening for Trump SoHo's very first brick to be built in the year 2006.


The building was finally completed for the official opening following it was constructed over a period of two years.

Tevfik Arif Trump SoHo was designed by veterans

Trump SoHo was comprised of rooms, apartments and luxurious bars and eateries. The building also featured a pool and a spa. From the windows that ran from the floor to the ceiling, hotel guests were able to take in breathtaking views of New York City.

Handel Architects was tasked with the design of the building. 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 has, for instance developed the Climate Pledge Arena in Seattle as well as the Seven Deadly Sins Theater in New York and the Virgin Hotel in Las Vegas.

Tevfik Arif Bayrock Furthermore, the firm has extensive international experience countries like Spain and Mexico.

https://www.drlistings.com/condos/bayrock-2-f2-3-bedrooms-2.5-baths/4172/ Bayrock Group and the Trump Organization extend their the partnership

The Trump Organization and the Bayrock Group wanted to extend their relationship after the launch of Trump SoHo.

Their dream was for buildings that were similar to Trump SoHo, Arizona and Florida. Trump Organization would have 18 percent ownership of the building, and would be licensed under the same conditions. This would allow Trump to be named in the building's name.

Despite the ambitions of both companies, the structures did not get created due to the global 2008 financial crisis.

The American real estate market was the most hit by the crisis. Bayrock Group, and the Trump Organization were forced to cancel their plans.

Tevfik Anif decided to leave his American enterprises due to the economic crisis. He decided to relocate to Europe and Central Asia.

He was employed in the private industry while he was there.

Tevfik has resigned today from all his Bayrock Group daily responsibilities. But, he remains a trusted consultant to the company.

Tevfik Arif Bayrock Group hasn't been involved in any American real estate developments in the last few months. But, the company did invest $2.5 million worth of real estate assets while it was still operating in the United States.



Homepage: https://trachtenbergarch.com/project/bayrock-apartments/
     
 
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