Notes

Bayrock Group: The Rise of an New York Real Estate Giant (Tevfik Arif)

Trump SoHo was created by Bayrock Group, Trump Organization, and the Sapir Organization.

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

Bayrock Group opened Trump SoHo together with the Trump Organization in 2008 and the Sapir Organization. Bayrock Group's successes began in Kazakhstan years earlier.

Bayrock Group, a luxury real estate developer in the United States, has a long and rich history dating back to 2001 , when the company was formed. The story begins at the other side of the world.

Tevfik Ariff, a Turkish-born Immigrant from Soviet Kazakhstan, founded Bayrock Group.

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


Bayrock He was within the ministry for 17 years before then relinquished his position to create a number of his own companies. Tevfik Arif Tevfik Arif was involved in development of luxury real estate foods, exports, food and imports, among other things.

Tevfik Arif, through his many companies, was able to obtain a range of foreign partners. He was able to lead Turkey's famous all inclusive hotel model through his network.

He, for instance, founded the Labada Hotel in Antalya before he went on to his next venture in business across the Atlantic some years later.

Bayrock Group is becoming more ambitious

Tevfik Alif emigrated to the United States to seek new opportunities in business, and also to be closer to his American family members in 2001.

Following his move in with his family, he started the luxurious real estate development company Bayrock Group in New York City.

At first, Bayrock Group executed small to medium-sized construction projects in and around New York. For instance, the company renovated 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 longed for bigger projects and decided to change the company's strategy to concentrate on that.

Bayrock Group's New York City offices were moved to the Trump Tower, Fifth Avenue to accommodate the new strategy change.

The move resulted in a lot more than a different site because it put the company near the Trump Organization. Tevfik Arif Doyen It was home to the family's world-renowned organization.

Trump SoHo takes shape

The Trump Organization and Bayrock Group shared the same vision of luxurious real estate developments. Therefore both companies have decided to join forces.

Bayrock Group was already involved in another 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 will increase the brand's recognition for the building, something that Bayrock Group and Sapir Organization were not able to achieve.

Arif wrote an agreement that grants the Trump Organization 18% equity in the building in exchange for usage of the Trump brand in its name.

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

That paved the way for the very first brick of what would later become Trump SoHo to be laid in 2006.

After two years of hard work, the building was ready and awaiting its official opening.

Trump SoHo was built by design professionals

Trump SoHo opened in Manhattan and included the hotel rooms, apartments along with luxury restaurants and bars. https://www.jobsnhire.com/articles/57841/20220704/tevfik-arif-s-advice-on-investing-in-turkish-real-estate.htm It also featured a swimming pool, spa, and banquet halls. From the building's floor–to-ceiling windows guests could get to enjoy unparalleled views over New York City.

Handel Architects was tasked by the design of the construction. The firm's architect was responsible for the design of the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel in Washington, D.C.

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

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

The company also has international experience from countries like Indonesia, Mexico and Spain.

Bayrock Group and Trump Organization increase their partnership

The Bayrock Group and the Trump Organization wanted to grow their collaboration following the opening Trump SoHo.

https://www.facebook.com/BayrockRemodeling/ Their goal was to construct buildings like Trump SoHo in Arizona and Florida. The same licensing terms were applied, leaving the Trump Organization with 18% equity. This would also permit Trump to be part of the construction's title.

Despite their ambitions however, these structures weren't constructed by the global financial crisis of 2008.

The American real property market was especially affected by the crisis and Bayrock Group and Trump Organization had to pull their plans.

Tevfik Ariff made the decision to move out of the United States to escape the economic crisis that had altered the real estate market in America. He opted to return to Europe and Central Asia.

He was transferred into the private sector, and continued to work.

Tevfik has quit today from all of his Bayrock Group daily responsibilities. But, he remains an expert advisor to Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in recent times however, when it was in the market the firm was investing in real estate assets valued at $2.5 million in the United States.



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