Notes

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

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). The success of Bayrock Group began in Kazakhstan many decades prior to.


Bayrock Group's success as a luxury real-estate development company in the United States began long before 2001. The story started from the other end.

Bayrock Group was founded by Tevfik Arif who was brought into the world by Soviet Kazakhstan to a family of Turkish origin.

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 decided to establish his own company. Tevfik Arif was involved in the development of luxury real estate, food, exports and imports among other.

Tevfik Arif was able to make many international alliances through his various companies. The network he built led him to relocate to Turkey in 1993, where he became one of the spearheading powers behind the country's popular all-inclusive hotel model.

He, for instance, founded the Labada Hotel in Antalya before the start of his next venture across the Atlantic some years later.

Bayrock Group takes on more ambitious goals

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

He moved to New York City just after the creation of Bayrock Group, a luxury real estate development company.

In the beginning, Bayrock Group executed small to medium-sized projects in and around New York. Bayrock Group revamped Loehmann’s Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was an excellent start. It gave Tevfik arif more motivation. He longed for bigger projects , and decided to alter the strategy of the company to focus on that.

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

The move was able to yield much more than the previous site, since it landed the business within the vicinity of the Trump Organization. The world-renowned family organization namely was located in the same building.

https://www.dwell.com/collection/tevfik-arif-bayrock-d7c16407 Trump SoHo finally takes shape

Bayrock Group & Trump Organization came up with a concept of high-end real estate developments. Therefore, they came together to form a partnership.

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

Tevfik arif recognized that the Trump Organization would bring brand recognition to the building. This was something Bayrock Group, and the Sapir Organization had lacked.

Arif made an agreement that gives the Trump Organization 18% ownership of the building, in exchange for the Trump brand's use.

Tevfik Arif Bayrock The deal was endorsed by the Bayrock Group, Trump Organization and the Sapir Organization.

That paved the way for the first bricks of what would eventually become Trump SoHo to be laid in 2006.

After two years of construction, the building was ready to be inaugurated.

Trump SoHo was designed by veterans

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. The building also featured an indoor pool and spa. Hotel guests had unbeatable views of New York City through the glass ceilings of the hotel.

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

Bayrock Group employed Rockwell Group to handle the design and interior of the building.

Rockwell Group, for example, has designed for instance, the Climate Pledge Arena, Seven Deadly Sins Theatre in New York, and Virgin Hotel in Las Vegas.

In addition, the company has extensive experience abroad in countries such as Spain as well as Mexico.

Bayrock Group and Trump Organization extend their partnership

Following the launch of Trump SoHo, the Trump Organization and the Bayrock Group wanted to increase their collaboration.

Their vision was to construct buildings similar to Trump SoHo in Florida and Arizona. The same licensing rules, leaving the Trump Organization with 18% equity in the building. It will allow Trump to be named as part of the building's name.

Despite their ambitions, these structures were never created by the global financial crisis of 2008.

The American real estate market was especially affected by the recession. Bayrock Group, and the Trump Organization were forced to cancel their plans.

Tevfik arif quit his United States enterprises after the financial crisis. He chose to go back to Europe and Central Asia.

Tevfik Arif Doyen He was employed in the private sector during the time his time there.

Tevfik Arif has quit the majority of his day-to-day tasks for Bayrock Group today. Tevfik Arif Bayrock He will however continue to be a trusted consultant to Bayrock Group.

Bayrock Group has not been involved in any American real estate projects in the past, however it did invest real estate assets in the United States worth $2.5million when it was operating.



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