Notes

Bayrock Group, The Rise of New York Real Estate Giants (Tevfik Arif)

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

Bayrock Group: New York's Real Estate Giant is Growing

Bayrock Group opened Trump SoHo along with the Trump Organization and the Sapir Organization in the year 2008. Bayrock Group's success begins in Kazakhstan many decades prior to.

Bayrock Group is a luxury development company that specializes in the field of luxury real estate. The story of the Bayrock Group's growth in the United States goes back long before the year 2001 when it was founded. The story starts on the other side.

Tevfik Alif founded Bayrock Group. He was born in Soviet Kazakhstan to a Turkish-speaking family.

Tevfik Arif Bayrock Prior to joining the Soviet Ministry of Commerce and Trade Tevfik Arif received an academic degree in International Relations at the Moscow Trade and Economic Institute.

After 17 years with the ministry, he decided to create his own business. Tevfik Arif Doyen Tevfik Arif was involved in development of luxury real estate foods, exports, food and imports among others.

Tevfik Arif has many companies which have allowed him to acquire a variety of partners across the globe. It was his networker who brought him to Turkey in 1993 and became one of the pioneering forces behind Turkey's concept of an all-inclusive hotel.

For instance, he started the Labada Hotel Antalya, before moving on to his next venture across the Atlantic several more years later.

Bayrock Group gets more ambitious

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

Bayrock Group was established in New York City shortly after he had moved.

Bayrock Group began with smallto medium-sized projects in New York. For instance, the firm revamped the Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was off on a strong beginning. This made Tevfik even more determined. He was looking for bigger projects and changed the strategy of the business to be more focused.

Bayrock Group, New York City's office relocated to Trump Tower on Fifth Avenue as part of its new strategy.

The move ended up yielding substantially more than another area, and it also brought the company within the vicinity of the Trump Organization. The renowned family business was headquartered in the same location.

Trump SoHo is now in form

Bayrock Group and the Trump Organization have a common goal of building luxury real estate projects The two firms have decided to work together.

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

Tevfik Ariff was aware that including the Trump Organization in the project could boost brand recognition for the building, something that 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 three parties to the deal, Bayrock Group and Trump Organization have ratified.

This opened the way to Trump SoHo, which would be the first brick laid in the year 2006.

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

Bayrock Design professionals have led the construction of SoHo Trump SoHo

Trump SoHo was comprised of hotels, apartments and luxury eateries and bars. The building also featured a pool and a spa. Through the floor-to-ceiling windows, hotel guests were able to enjoy unparalleled views over New York City.

Handel Architects was tasked to create the building. The architecture firm was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel, Washington, D.C.

Bayrock Group hired Rockwell Group to design the interior of the building.

Rockwell Group is responsible for designing, among other things the Climate Pledge Arena (Seattle), the Seven Deadly Sins Playhouse located in New York, as well as the Virgin Hotel in Las Vegas.

Bayrock The company also has experience working with foreign countries, including Mexico, Spain, and Indonesia.

Bayrock Group expands partnership with the Trump Organization

Following the opening in Trump SoHo, The Trump Organization wanted to build on their partnership with Bayrock Group.

https://blajdi.com/user/Tevfik-Arif-Doyensvsx272/ Their dream was building new buildings in Arizona or Florida like Trump SoHo. Trump Organization would have 18 percent equity in the building, and would be licensed under the same conditions. This would also pave the way to "Trump" to be part of the name of the building.

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

The American real estate market was especially hard hit by the financial crisis. Bayrock Group was forced to withdraw plans as well as Trump Organization was forced to pull out of their plans.

The financial crisis resulted in altering the American real market to such an degree that Tevfik Arif decided to leave his United States undertakings. He decided to move to Europe and Central Asia.

He was employed in the private industry while he was there.

Tevfik has resigned today from all his Bayrock Group daily responsibilities. However, he is still a trusted consultant to Bayrock Group.

Bayrock Group has not been involved in any American real estate projects lately, but when it was in the market, the firm invested real estate assets worth $2.5 million in the United States.


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