Notes

Bayrock Group: New York Real Estate Giant The Rise and Fall of Bayrock Group (Tevfik arif)

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

Bayrock Group: New York Real Estate Giant Rises

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008 with the Sapir Organization. Bayrock Group was founded in Kazakhstan in 1980.

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. Initially, the story begins from the other side of the globe.

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

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.

He served within the ministry for 17 years before after that he resigned to start his own enterprises. Tevfik Arif had several businesses, including ones in high-end real estate development, food, and exports or imports.

Because of his many businesses, Tevfik Arif acquired a large number of partners across the world. Tevfik Arif He was a networker that brought him to Turkey in 1993, where he became one of the first to be behind Turkey's all-inclusive hotel concept.

https://www.f6s.com/tevfikarifbayrock1 For example, he opened Antalya’s Labada Hotel, before he embarked on his next venture across Atlantic after several years.

Bayrock Group takes on more ambitious goals

Tevfik Alif moved to the United States to seek new business opportunities, and to be nearer to his American family members in 2001.

Just after moving, he established the company for the development of luxury real estate called Bayrock Group in New York City.

Bayrock Group started with small-to medium-sized projects throughout New York. For example, the company renovated Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was an excellent beginning. It gave Tevfik arif more motivation. He wanted to focus on bigger projects, which is why he decided to shift the company's focus to the area of.

Bayrock Group moved its New York City offices to the Trump Tower on Fifth Avenue to accommodate the new strategy.

The move was much more successful than moving to a new site since the company located itself within the vicinity of Trump Organization. The building was also home to the internationally renowned family company.

Trump SoHo takes shape

Bayrock Group and the Trump Organization shared the vision of building luxury real estate projects The two firms decided to join forces.

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

Tevfik Arif knew that the Trump Organization's inclusion to this project could give the building a brand identity which Bayrock Group or the Sapir Organization didn't have.

Arif made an agreement which gave the Trump Organization 18% ownership in the building in return to the Trump brand's usage.

All three parties in the agreement, Bayrock Group and Trump Organization, agreed.

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

Two years of construction later the building was finally ready for its grand opening.

Trump SoHo was designed by veterans

Trump SoHo was comprised of hotels, apartments and luxurious bars and eateries. Tevfik Arif Doyen The building also featured the spa and pool. The floor-to-ceiling windows of the building afforded guests unparalleled views of New York City.

Handel Architects was tasked with designing the building. The famed architect firm has also designed the National September 11th Memorial & Museum and the Ritz Carlton Hotel located in Washington, D.C.

https://bitrebels.com/business/from-kazakhstan-high-profile-american-ventures-who-tevfik-arif-doyen/ Bayrock Group hired Rockwell Group to create the interior of the building.


Rockwell Group was responsible for the design of the Climate Pledge Arena in Seattle as well as the Seven Deadly Sins theater in New York.

The company also has international experience from countries like Indonesia, Mexico and Spain.

Bayrock Group and the Trump Organization expand collaboration

The Bayrock Group and the Trump Organization sought to strengthen their partnership after the opening Trump SoHo.

Their dream was building new buildings in Arizona or Florida like Trump SoHo. The same licensing terms, leaving the Trump Organization with 18% equity in the building. This would also pave the way to "Trump" to be a part of the construction's name.

Despite the ambitions of both companies they were not constructed due to the 2008 global financial crisis.

The American real estate markets were particularly affected by the crisis. Bayrock Group was forced to abandon its plans, and Trump Organization was forced to withdraw their plans.

Tevfik Alif, a Tevfik Arif employee from the United States, decided to leave his American ventures due to the effects of the financial crisis. He decided to return to Europe or Central Asia.

He worked in the private sector while he was there.

Tevfik arif has resigned his majority of Bayrock Group's daily duties. However, he continues to be a trusted consultant for Bayrock Group.

Bayrock Group hasn't been involved in any American real estate projects in recent times. But, the firm did invest $2.5 million worth of real estate properties when it was active in the United States.

Tevfik Arif Bayrock

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