Notes

Bayrock Group: The Rise of an New York Real Estate Giant (Tevfik Arif)

Trump SoHo was opened by Bayrock Group in 2008, alongside the Trump Organization (the Trump Organization) as well as the Sapir Organization.

Bayrock Group - The Rise of a New York Real Estate Giant

Bayrock Group opened Trump SoHo with the Trump Organization and the Sapir Organization in 2008. The Bayrock Group's successes begin in Kazakhstan, decades before.

Bayrock Group's success as a luxury real-estate development company in the United States began long before 2001. At first, the story starts in a different part of the globe.

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

Tevfik Arif earned an education in International Relations at the Moscow Trade and Economic Institute before joining the Soviet Ministry of Commerce and Trade.

After serving in the ministry for 17-years He decided to quit and set up a number of businesses. Tevfik Arif’s businesses were in the luxury food, real estate and exports/imports industries, among others.

Tevfik Arif has many companies that have helped him gain a wide range of partners across the globe. He became a leader in Turkey's famous all inclusive hotel model through his network.

Tevfik Arif Bayrock 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 becomes increasingly ambitious

Tevfik Arif emigrated to the United States in 2001 to pursue new business opportunities and be closer to his American family.

Tevfik Arif Doyen Following his move, he founded the luxury realty development firm Bayrock Group in New York City.


Bayrock Group started with small-to medium-sized projects across New York. Bayrock https://thelibertarianrepublic.com/tevfik-arif-who-is-man-behind-trump-soho/ For instance, the Bayrock Group revamped the design of Loehmann's Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Group was a solid start. This made Tevfik even more driven. He longed for bigger projects , and decided to modify the business's approach to concentrate on that.

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

The move ended up yielding much more than the previous area, and it also brought the business close to the Trump Organization. The well-known family business was located in the same location.

Trump SoHo gets shape

Bayrock Group was inspired by Trump's plan to build luxurious real estate properties and they decided to work together.

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

Tevfik Ariff knew that including the Trump Organization in the project could boost brand recognition for the building, something Bayrock Group and Sapir Organization didn't have.

Arif created an agreement that permitted the Trump Organization to own 18 percent of the building in exchange for the Trump logo being used.

The proposed deal was accepted by the Bayrock Group, Trump Organization and the Sapir Organization.

That was the foundation for the first brick of Trump SoHo to be laid in the year 2006.

The structure was ready for the official opening following it was constructed over two years.

Design experts have led the construction of SoHo Trump SoHo

Trump SoHo was comprised of apartments, hotel rooms and luxury eateries and bars. There was also the spa and pool. Hotel guests had unbeatable views of New York City through the ceiling-to-ceiling windows of the building.

Handel Architects was tasked by the design of the structure. The famed architect firm has also developed the National September 11th Memorial & Museum and the Ritz the Carlton Hotel in Washington, D.C.

Bayrock Group commissioned Rockwell Group as interior designers.

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 firm also has experience in international markets that includes Mexico, Spain, Indonesia as well as Mexico.

Bayrock Bayrock Group and Trump Organization strengthen their partnership

The Trump Organization and the Bayrock Group sought to expand their relationship following the launch of Trump SoHo.

Their vision was to construct buildings like Trump SoHo in Arizona and Florida. Trump Organization also received 18% equity in building under the same licensing conditions. This would allow Trump to be included as part of the name of the building.

Despite the hopes of both firms they didn't get the structures because of the global financial crisis.

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

Tevfik Ariff made the decision to leave the United States to escape the financial crisis that changed the real estate market in America. Tevfik Arif Doyen He decided to return to Europe or Central Asia.

He moved into the private sector, and continued his employment.

Tevfik Arif has resigned from most of his daily responsibilities for Bayrock Group today. However, he continues to be a trusted consultant to Bayrock Group.

Bayrock Group hasn't been involved in any American real estate developments in the last few months. But, the company did invest $2.5 million in real estate properties when it was active in the United States.

Tevfik Arif Bayrock

My Website: https://www.pinterest.com/bayrockstone/