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Bayrock Group: New York Real Estate Giant: The Rise and Fall of Bayrock Group (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 opened Trump SoHo together with the Trump Organization and the Sapir Organization in 2008. However, the story of the Bayrock Group's success begins in Kazakhstan decades before.

Bayrock Group was established in 2001, but the story of its success as a luxury realty development firm located in the United States is much older than the year 2001. Initially, the story begins from the other side of the world.

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

Before joining the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from the Moscow Trade and Economic Institute.

The ministry he was in for 17 years, but then left to create various of his own firms. Tevfik Arif was involved in luxury real estate development as well as food exports, exports, and imports among others.

Tevfik Arif's numerous businesses allowed him to draw a huge variety of foreign partners. He was a networker who drove his company to Turkey in 1993 and became one of the pioneering factors behind Turkey's concept of an all-inclusive hotel.

For instance, he inaugurated Antalya’s Labada Hotel, before he embarked on his next venture across Atlantic after a few years.

Bayrock Group grows more ambitious

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

Bayrock Group was established in New York City shortly after the move of the founder.

Bayrock Group was a small and medium-sized company that began in New York. Bayrock Group, for example, remodeled Loehmann’s Seaport Plaza in Brooklyn's Sheepshead.

Tevfik Arif Doyen Bayrock Group was off to an excellent start, and it led to Tevfik Arif becoming ever more ambitious. He was eager for larger projects and decided to change the company strategy to focus more on those.

Bayrock Group moved its New York City offices to the Trump Tower on Fifth Avenue to coincide with the change in strategy.

This move yielded a lot more than just a new location because it placed the business near to the Trump Organization. It also housed to the internationally renowned family company.

Trump SoHo gets shape

The Trump Organization and Bayrock Group had the same vision for luxury real estate projects. Therefore, the two companies made the decision to merge.

Bayrock Group was already involved in a different project at Spring Street in Manhattan's SoHo district with the Sapir Organization.

Tevfik Arif knew that the Trump Organization's involvement in this project would provide the building a brand image that Bayrock Group or the Sapir Organization didn't have.

Tevfik Arif Doyen Arif came up with an agreement that gives the Trump Organization 18% ownership of the building, in exchange for the Trump brand's usage.

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

This opened the way to the first Trump SoHo brick to be erected in 2006.

After two years of hard work the building was completed for the opening.

Design veterans are the architects behind SoHo Trump SoHo

Trump SoHo opened in Manhattan and included hotels, apartments and upscale restaurants and bars. There was also an outdoor pool, a spa and banquet halls. Through the floor-to-ceiling windows guests could get to admire breathtaking views of New York City.


Handel Architects was tasked as the architect. The famous architectural 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 handle the interior design.

Rockwell Group has, for instance developed the Climate Pledge Arena in Seattle The Seven Deadly Sins Theatre in New York and the Virgin Hotel in Las Vegas.

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

Bayrock Group expands partnership with the Trump Organization

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

Tevfik Arif Their goal was to build structures that were like Trump SoHo, Arizona and Florida. Trump Organization also received 18 percent equity in the construction under the same licensing conditions. This will allow Trump to be included in the construction's name.

Despite their ambitions however, these structures weren't built in the wake of the 2008 global financial crisis.

The American real estate markets were particularly hard hit by the crisis. Bayrock Group was forced to abandon plans as well as Trump Organization was forced to withdraw their plans.

Tevfik arif quit his United States enterprises after the financial crisis. He decided to move back to Europe or Central Asia.

Tevfik Arif Bayrock He worked in the private sector while the time he was working.

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

Bayrock Group has not been involved in any American real estate ventures in recent times however, when it was in the market the company invested in real estate assets that amounted to $2.5 million in the United States.



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