Notes

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

Trump SoHo was launched in 2008 by Bayrock Group and the Trump Organization.

Bayrock Group: New York Real Estate Giant Rises

Bayrock Group opened Trump SoHo along 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 and rich history dating all the way to 2001, the year the company was established. In the beginning, the story began in a different region of the globe.

Tevfik Ariff, a Turkish-born immigrant to Soviet Kazakhstan, founded Bayrock Group.

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 served in the ministry for 17 years before he quit to establish his own businesses. Tevfik Arif owned several firms that dealt with the development of luxury real estate as well as food exports and imports.

Bayrock Tevfik Arif's numerous businesses allowed him to attract a large number of international partners. His connections brought him to Turkey in 1993 where he was one of the leading leaders behind Turkey's famous all-inclusive hotels.

https://littlesis.org/org/49951-Bayrock_Group He, for instance, founded the Labada Hotel in Antalya before he embarked on his next venture in business across the Atlantic several years afterward.

Bayrock Group becomes increasingly ambitious

Tevfik Amir came to America in 2001 to find new business opportunities as well as to be closer to his American family.

Following his move in with his family, he started the luxurious real estate development company Bayrock Group in New York City.

Bayrock Group began with smallto medium-sized projects throughout New York. Bayrock Group has redesigned the Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was a solid beginning. It helped Tevfik become more driven. He was looking for bigger projects, so he changed the strategy of the company to focus on them.

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

This move yielded significantly more than any other place. The company was located within close proximity to the Trump Organization. This was the place of the world-renowned family business.

Trump SoHo gets shape

Bayrock Group and the Trump Organization were both interested in creating luxury real estate projects So, the two companies decided to join forces.

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

https://www.amazon.com/Bubble-Homes-Junior-Library-Selection/dp/1570916705 Tevfik Alif knew that adding the Trump Organization to the project would add brand awareness to the building which Bayrock Group lacked and that the Sapir Organization was lacking.

Arif drafted an agreement granting the Trump Organization 18% equity in the building in exchange for the use of the Trump brand under its name.


Tevfik Arif All three parties in the agreement, Bayrock Group and Trump Organization were in agreement.

That was the foundation for Trump SoHo's first brick to be laid in 2006.

After two years of construction, the building was ready for its grand opening.

https://www.latinpost.com/articles/154499/20220316/what-draws-trump-and-bayrock-group-s-tevfik-arif-to-turkey.htm Trump SoHo was designed by veterans

Trump SoHo had apartments, accommodation for hotel guests, luxury restaurants/bars, a swimming pool and banquet halls when it first opened. From the windows that ran from the floor to the ceiling guests could get to take in breathtaking views of New York City.

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

Bayrock Group commissioned Rockwell Group as the interior designer.

Rockwell Group is responsible for creating, 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.

International experience is also accessible from countries such as Spain, Mexico, and Indonesia.

Bayrock Group, Trump Organization strengthen their collaboration

After the launch of Trump SoHo, the Trump Organization and the Bayrock Group wanted to increase their partnership.

Their vision was to design structures that were located in Arizona and Florida that resembled Trump SoHo. The same licensing conditions were employed, which left the Trump Organization with 18% equity. This would permit Trump to be included in the name of the building.

Despite the ambitions and plans of the businesses however, the structures couldn't be built due the 2008 global economic crisis.

The American real estate market was particularly affected by the crisis, which caused Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Ariff decided to quit the United States to escape the financial crisis that changed the real estate market in America. He decided to relocate to Europe and Central Asia.

He then continued to work in the private sector.

Tevfik arif has quit the majority of Bayrock Group's day-to-day responsibilities. But, he remains a trusted consultant to the business.

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.



Read More: https://bitrebels.com/business/from-kazakhstan-high-profile-american-ventures-who-tevfik-arif-doyen/