Notes

Bayrock Group: The Rise of the Bayrock Group as a New York Real Estate Giant (Tevfik Arif)

Trump SoHo was inaugurated by the Bayrock Group, Trump Organization and Sapir Organization in 2008.

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

Bayrock Group launched Trump SoHo with both the Trump Organization and Sapir Organization in 2008. Bayrock Group was founded in Kazakhstan in 1980.

Bayrock Group was established in 2001, however the story of its growth and success luxury realty development firm in the United States is much older than the year 2001. The story started from the other end.

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

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

After 17 years in the ministry, he left to start his own business. The firms of Tevfik arif included luxury real estate development exports, food and imports, in addition to.


Through his various companies, Tevfik Arif acquired a wide array of worldwide partners. His connections led him to move to Turkey in 1993, and he was one of the leaders behind Turkey's popular all-inclusive hotel model.

https://www.zoominfo.com/c/bayrock/12620863 For instance, he inaugurated Antalya’s Labada Hotel, before he set off on his next adventure across the Atlantic, several years later.

Bayrock Group gets more ambitious

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

Bayrock Group was established in New York City shortly after his move to New York.

At first, Bayrock Group executed small to medium-sized projects within and around New York. For instance, the firm renovated Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was off to an excellent start, and it led to Tevfik Arif becoming more determined. He was keen to tackle larger projects, and which is why it was his decision to move the company's focus on the area of.

Bayrock Group's New York City offices were moved to the Trump Tower, Fifth Avenue in order to accommodate the strategic shift.

The move resulted in a lot more than a different location because it placed the company close to the Trump Organization. The world-renowned family company resided in the same building.

Trump SoHo finally takes shape

Bayrock Group was inspired by Trump's dream to build luxurious real estate properties which is why they decided to work together.

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

Tevfik Arif Bayrock Tevfik Alif was aware 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 created an agreement giving the Trump Organization 18% equity in the building in exchange for use of the Trump brand in its name.

The deal was agreed upon by Bayrock Group as well as the Trump Organization (and the Sapir Organization).

This opened the way for Trump SoHo's very first brick to be built in 2006.

After two years of hard work The building was finally ready for the opening.

Design veterans have led the construction of Trump SoHo

Trump SoHo was comprised of rooms, apartments and luxury eateries and bars. It also had a pool and a spa. Hotel guests enjoyed breathtaking perspectives of New York City from the high ceilings and floor-to-ceiling windows.

Handel Architects were tasked with the design. Tevfik Arif Doyen The famed architectural firm also designed the National September 11th Memorial & Museum, New York City, and the Ritz Carlton Hotel, Washington D.C.

Bayrock Group hired Rockwell Group, to handle interior design.

Rockwell Group designed, among many other structures among others, among others, the Climate Pledge Arena and the Seven Deadly Sins Theatre in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

International experience is also available from nations like Spain, Mexico, and Indonesia.

Bayrock Group and Trump Organization extend their collaboration

The Bayrock Group and the Trump Organization were looking to expand their collaboration following the opening Trump SoHo.

Tevfik Arif Their dream was for constructions that resembled Trump SoHo, Arizona and Florida. Trump Organization was also granted the same license conditions and left with an equity of 18% in this construction. This will permit Trump to be added in the construction's name.

Despite both companies' ambitions the structures were not created due to the global 2008 financial crises.

The crisis especially hit the American real estate market, and, therefore, forced Bayrock Group and the Trump Organization to stop their plans.

Tevfik Ariff made the choice to leave the United States to escape the financial crisis that had reshaped America's real estate market. He decided to move to Europe and Central Asia.

There, he continued working in the private sector.

Tevfik Alif has quit his post as the Bayrock Group's chief executive. Tevfik Arif Doyen However, he is still a respected consultant to the company.

Bayrock Group has not been involved in any American real estate developments in the last few months however, when it was in the market, the firm invested real estate assets that amounted to $2.5 million in the United States.



Here's my website: https://www.zoominfo.com/c/bayrock/12620863