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

Trump SoHo was created by Bayrock Group, Trump Organization and the Sapir Organization.

Tevfik Arif Bayrock Group: New York's Real Estate Giant is Growing

Bayrock Group opened Trump SoHo along with the Trump Organization in 2008 and the Sapir Organization. Tevfik Arif Doyen The Bayrock Group's story of success began in Kazakhstan some time ago.

Bayrock Group, a luxury real estate developer in the United States, has a long and rich history dating all the way to 2001, the year the company was founded. The story initially begins in another part of the world.

Tevfik Arif was the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by a Turkish family.

Tevfik Arif graduated with an undergraduate degree in International Relations at the Moscow Trade and Economic Institute prior to joining the Soviet Ministry of Commerce and Trade.

After being as a minister for 17 years, he decided to leave and establish several companies. Tevfik Arif was involved in luxury real estate development foods, exports, food and imports among others.

Tevfik Arif's many businesses enabled him to draw a huge number of foreign partners. He was a networker, and drove his company to Turkey in 1993, where he became one of the pioneering factors in the development of Turkey's all-inclusive hotel concept.

For example, he opened the Labada Hotel Antalya, before moving on to his next venture across the Atlantic two years later.

Bayrock Group grows more ambitious

Tevfik arif moved into the United States from Pakistan in 2001 in order to explore new avenues for business and to be closer his American family.

Just after moving, he established the luxurious real estate development company Bayrock Group in New York City.

At first, Bayrock Group executed small to medium-sized construction projects in and around New York. For instance, Bayrock Group revamped the design of Loehmann's Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Group was an excellent start. It gave Tevfik arif more motivation. He was keen to take on bigger projects and decided that he would modify the business's strategy to concentrate more on those.

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

The move was much more successful than moving to another location as the company found itself in the vicinity Trump Organization. The building was also home to the world-renowned family business.

Trump SoHo takes shape

Bayrock Group and Trump Organization shared the same vision for high-end real estate developments. The two companies decided to join forces.


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

Tevfik Arif knew the Trump Organization's participation in this project could give the building an identity that Bayrock Group or the Sapir Organization didn't have.

Arif wrote an agreement that gives the Trump Organization 18% equity and the right to make use of the Trump name in exchange.

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

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

The structure was ready for its official opening after being built over the course of two years.

Trump SoHo is designed by designers who are experienced professionals

Trump SoHo opened in Manhattan and featured hotels, apartments and upscale restaurants and bars. There was also the pool, spa, and banquet halls. The guests of the hotel enjoyed unbeatable perspectives of New York City from the ceiling-to-ceiling windows.

Bayrock Handel Architects was tasked as the architect. The famous architecture firm also created the National September 11th Memorial & Museum, New York City and the Ritz Carlton Hotel in Washington D.C.

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

Rockwell Group, for example, has designed the Climate Pledge Arena The Climate Pledge Arena, the Seven Deadly Sins Theater in New York, and Virgin Hotel in Las Vegas.

In addition, the company has extensive international experience countries such as Spain as well as Mexico.

Bayrock Group expands partnership with the Trump Organization

The Bayrock Group and Trump Organization were looking to expand their partnership following the opening of Trump SoHo's opening.

https://www.sunnewsonline.com/bayrock-group-the-rise-of-a-new-york-real-estate-giant/ Their dream was to construct structures similar to Trump SoHo in Florida and Arizona. Also under the same licensing rules, leaving the Trump Organization with 18% equity in the building. This could open the way to Trump being part of the construction's name.

Despite their goals, these structures were never constructed in the wake of the 2008 global financial crisis.

The American realty market was particularly affected by the financial crisis. Bayrock Group, and the Trump Organization were forced to stop their plans.

Tevfik Arif Bayrock The financial crisis ended up altering the American real estate market to such an extent that Tevfik Arif opted to end his United States undertakings. He chose to go back to Europe and Central Asia.

He then continued to work in the privat sector.

Today, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. But, he will continue to be a trusted consultant for Bayrock Group.

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



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