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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, The Rise of New York Real Estate Giant

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

The story of the luxurious real estate development firm Bayrock Group's growth in the United States begins long before the firm's founding in 2001. The story begins on the other side.

Tevfik Arif is the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by an 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.

After 17 years in the ministry, he resigned to create his own business. Tevfik Arif owned several firms that were involved in luxury realty development, food exports, as well as imports.

Because of his many businesses, Tevfik Arif acquired a diverse array of international partners. Bayrock He was the leader in the famous all-inclusive hotel model through his network.

In the past, for instance, he opened Antalya's Labada Hotel before embarking on his next business venture over the Atlantic several years later.

Bayrock Group is becoming more ambitious

Tevfik Alif emigrated to the United States to seek new business opportunitiesand be closer to his American family members in 2001.

Tevfik Arif He relocated to New York City just after establishing Bayrock Group, a luxury real estate development company.

Bayrock Group started out with small-to-medium-sized jobs located in New York. Bayrock Group, for instance revamped Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was a solid beginning. It made Tevfik more determined. He wanted bigger projects so he changed the company's strategy in order to concentrate on these projects.

In support of the new strategy, Bayrock Group relocated its New York City office to the Trump Tower at Fifth Avenue.

Tevfik Arif Bayrock The move ended up yielding significantly more than the other area, and it also brought the business located in the vicinity of the Trump Organization. The building also served as home to the internationally recognized family company.

Trump SoHo takes shape

The Trump Organization and Bayrock Group shared the same vision of luxurious real estate developments. Therefore, the two companies have decided to join forces.

Bayrock Group had already begun work on a second project in Manhattan's SoHo neighborhood on Spring Street with the Sapir Organization.

Tevfik Alif was aware that adding the Trump Organization to the project would add brand awareness to the building that Bayrock Group lacked and that the Sapir Organization was lacking.

Arif made an agreement in which he granted the Trump Organization 18% equity in this building , in exchange for the Trump brand being used to promote its name.

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

Tevfik Arif Bayrock That opened the doors to Trump SoHo, which would be the first building to be completed in 2006.

After two years of work The building was completed and awaiting its official opening.

Trump SoHo was designed by veterans

Trump SoHo was comprised of apartments, hotel rooms and luxurious bars and eateries. It also had the spa and pool. Hotel guests could enjoy breathtaking views of New York City through the ceiling-to-ceiling windows of the building.

Handel Architects was tasked as the architect. The firm's previous projects included developed the famous National September 11th Memorial & Museum (New York City) and the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group engaged Rockwell Group to design interiors.


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

The company also has international experience which includes Mexico, Spain, Indonesia and Mexico.

Bayrock Group and the Trump Organization expand collaboration

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

The dream of the owners was to create buildings that were similar to Trump SoHo, Arizona and Florida. Trump Organization also received 18% equity in building under the same licensing conditions. This would allow Trump to be included in the building's name.

Despite their lofty goals they were not created in the wake of the global financial crisis of 2008.

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

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

He continued to work in the private sector.

This morning, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. He is still a trusted advisor to Bayrock Group.

Bayrock Group was not involved in any American Real Estate ventures in the past, but the firm invested $2.5 million in real estate properties in the United States when it was actively investing.



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