Notes

Bayrock Group: New York Real Estate Giant The rise and fall of Bayrock Group (Tevfik arif)

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

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. But the story of the Bayrock Group's success begins in Kazakhstan years before that.

Bayrock Group was established in 2001, however the story of its success as a luxury real estate development firm in the United States is much older than the time it was founded. The story starts at the opposite end.

Tevfik Arif founded 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.

Tevfik Arif Bayrock After 17 years with the ministry, he resigned to establish his own company. Tevfik's ventures included the luxury real estate, food, and exports/imports industries as well as other sectors.

Tevfik Arif, through his various companies, was able to gain a variety of international partners. Tevfik Arif Doyen It was his networker who led him to Turkey in 1993 and became one of the pioneering factors in the development of Turkey's all-inclusive hotel concept.

For instance, he inaugurated Antalya’s Labada Hotel, before he began his next venture across Atlantic after several years.

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 members in 2001.

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

Bayrock Group started with small-to medium-sized projects in New York. Bayrock Group redesigned Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off on a strong beginning. This made Tevfik even more ambitious. He wanted bigger projects so his company's approach was changed in order to concentrate on these projects.

Bayrock Group, New York City's office moved to the Trump Tower on Fifth Avenue in line with its new strategy.

This move yielded a lot more than just a new site because it put the business near to the Trump Organization. The Trump Organization was home to the world-renowned family company.

Trump SoHo finally takes shape

Bayrock Group & Trump Organization came up with a concept of high-end real estate developments. Therefore, they have decided to join forces.

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

Tevfik Alif knew that adding the Trump Organization to the project will bring brand recognition to the building which Bayrock Group lacked and that the Sapir Organization was lacking.

Arif came up with an arrangement that allowed the Trump Organization to own 18 percent of the building in exchange for the Trump logo being used.

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

This was the basis for the very first bricks of Trump SoHo to be laid in the year 2006.

The building was completed following two years of laborious work.

Trump SoHo construction led by experts in design

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. There was also the spa and pool. The hotel guests had unparalleled perspectives of New York City from the high ceilings and floor-to-ceiling windows.

Handel Architects was tasked to create the building. The architecture firm had recently designed the renowned National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

Bayrock Group hired Rockwell Group, to handle the interior design.

Rockwell Group designed, among many other structures among other things, among others, the Climate Pledge Arena as well as the Seven Deadly Sins Theatre in Seattle. https://www.facebook.com/BayrockRemodeling/ The Virgin Hotel in Las Vegas was also designed by the group.

Additionally, the firm has extensive experience abroad in countries such as Spain as well as Mexico.

Bayrock Group expands partnership with the Trump Organization

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

Their vision was to construct buildings like Trump SoHo in Arizona and Florida. Trump Organization was also granted the same license conditions and was left with 18% equity in this construction. This would allow Trump to be included in the name of the building.

https://kazakhbusinessbulletin.wordpress.com/kazakh-businessman/tevfik-arif/ Bayrock Despite their lofty goals they were not built in the wake of the 2008 global financial crisis.

The American real-estate market was especially affected by the crisis that led Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Anif opted to leave his American businesses due to the economic crisis. He chose to return to Europe, Central Asia.


He continued to work in the private sector.

Tevfik arif has left the major part of Bayrock Group's everyday duties. Tevfik Arif However, he is a trusted advisor to Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in recent times however, when it was operating, the firm invested real estate assets that amounted to $2.5 million in the United States.



Here's my website: https://www.facebook.com/BayrockRemodeling/