Notes

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

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

Bayrock Group: New York Real Estate Giant Its Rise

Bayrock Group launched Trump SoHo along with the Trump Organization and Sapir Organization in 2008. However, the story of Bayrock Group's growth begins in Kazakhstan several decades prior to that.


The story of the luxurious real estate development firm Bayrock Group's successes in the United States begins long before the firm's founding in 2001. In the beginning, the story begins in another part of the globe.

Tevfik Alif is the founder of Bayrock Group. He was born in Soviet Kazakhstan to a Turkish-speaking family.

Tevfik Arif received an undergraduate degree in International Relations from the Moscow Trade and Economic Institute prior to becoming a member of the Soviet Ministry of Commerce and Trade.

He served in the ministry for 17 years, and after that he resigned to create a number of his own companies. Tevfik Arif was involved in the development of luxury real estate, food, exports and imports, among other things.

Due to his numerous companies, Tevfik Arif acquired a diverse array of international partners. His network drove him to relocate to Turkey in 1993, and he was one of the main players behind Turkey's popular all-inclusive hotel model.

He, for example, opened the Labada Hotel in Antalya before the start of his next venture across the Atlantic several years afterward.

Bayrock Group takes on more ambitious goals

Tevfik arif came to the United States from Pakistan in 2001 in order to explore new business avenues and be closer his American family.

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

Bayrock At first, Bayrock Group executed small to medium-sized construction projects in and around New York. The company, for example, revamped the shopping center of Loehmann's Seaport Plaza in the Sheepshead neighborhood of Brooklyn.

Bayrock Group was off to an excellent start, and it made Tevfik Arif more ambitious. He was seeking bigger projects and he changed the strategy of the company to focus on these projects.

Bayrock Group moved its New York City office to Trump Tower on Fifth Avenue to coincide with the change in strategy.

The move yielded significantly more than the other location, as it got the business close to the Trump Organization. The Trump Organization was home to the world-renowned family business.

Trump SoHo finally takes shape

Bayrock Group & Trump Organization came up with a concept of luxurious real estate projects. So, they came together to form a partnership.

https://www.f6s.com/tevfikarifbayrock9 Bayrock Group was already working on another undertaking on Spring Street in Manhattan's SoHo quarter with the Sapir Organization.

Tevfik Arif Bayrock Tevfik Arif was aware that addition of the Trump Organization to that project would bring an image to the building which Bayrock Group and the Sapir Organization lacked.

Arif wrote an agreement that gives the Trump Organization 18% equity and the right to make use of the Trump name in exchange.

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

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

After two years of hard work the building was finished and was awaiting its opening.

Trump SoHo was built by design veterans

Trump SoHo had apartments, hotels, luxurious restaurants/bars with a swimming pool, and banquet halls when it first opened. Through the floor-to-ceiling windows hotel guests were able to enjoy unparalleled views over New York City.

Handel Architects were tasked with the design. The firm's previous projects included developed the famous National September 11th Memorial & Museum (New York City) and the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group hired Rockwell Group, to handle interior design.

Rockwell Group was responsible for the design of the Climate Pledge Arena in Seattle and the Seven Deadly Sins theatre in New York.

Bayrock Tevfik Arif The company has also international experience which includes Mexico, Spain, Indonesia and Mexico.

Bayrock Group expands partnership with the Trump Organization

The Bayrock Group and Trump Organization had been looking to extend their collaboration in the wake of the opening of Trump SoHo.

Their goal was to build new buildings in Arizona or Florida like Trump SoHo. https://www.dailyadvent.com/news/2518b5abd51a30e135b4846f12d477cf-Tevfik-Arif-Bayrock-Group-Trump-SoHo-No-Longer-a-Mystery The same licensing terms were used, which left the Trump Organization with 18% equity. This would allow Trump to be added in the construction's name.

Despite the ambitions of both companies, the structures were not built due to 2008 global financial crisis.

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

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

He worked in the private industry while he was there.

Tevfik Alif has resigned as the Bayrock Group's chief executive. He remains a trusted consultant to the business.

Bayrock Group was not involved in any American Real Estate projects Recently, however, the company has invested $2.5 million in real estate properties in the United States when it was actively investing.



Website: https://www.f6s.com/tevfikarifbayrock1