Notes

Bayrock Group: New York's Real Estate Giant is Rising (Tevfik Arif)

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

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

Bayrock Group opened Trump SoHo along with the Trump Organization and the Sapir Organization in 2008. Tevfik Arif Doyen The story of Bayrock Group's success begins in Kazakhstan several decades ago.


The Bayrock Group's growth as a luxury real-estate development company in the United States began long before 2001. The story begins at the other side of the world.

Tevfik Arif Doyen Tevfik Arif founded Bayrock Group. He was born in Soviet Kazakhstan and was adopted by a Turkish family.

Prior to becoming a member of the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned a degree from the Moscow Trade and Economic Institute in International Relations.

https://www.dwell.com/collection/tevfik-arif-bayrock-d7c16407 He was in the ministry for 17 years later, but the minister resigned to establish several of his own companies. Tevfik Arif's companies included development of luxury real estate, food and exports and imports, among others.

Tevfik Arif was able to establish many international partnerships through his numerous businesses. The network he built led him to Turkey in 1993 where he was one of the most prominent leaders behind Turkey's famous all-inclusive hotels.

Bayrock For instance, he started the Labada Hotel Antalya, before embarking on his next venture across the Atlantic some time later.

Bayrock Group takes on more ambitious goals

Tevfik Arif moved to the United States in 2001 to discover new avenues of business as well as to be closer to the American family members.

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

Bayrock Group was a small and medium-sized business that was founded in New York. Bayrock For example, the company revamped the Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was off to an excellent start, and this made Tevfik arif more determined. He was keen to take on bigger projects and decided that he would modify the business's strategy to concentrate more on these projects.

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

The move yielded much more than the previous location, as it got the business located close to the Trump Organization. It was the home of the world-famous family organization.

Trump SoHo comes to life

Bayrock Group & Trump Organization shared a vision of high-end real estate developments. Bayrock They have decided to join forces.

Bayrock Group was already working with the Sapir Organization on another undertaking in Manhattan's SoHo Quarter, located on Spring Street.

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

Arif created an agreement giving the Trump Organization 18% equity and the right to use the Trump name in exchange.

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

This was the beginning of the construction project Trump SoHo's in 2006.

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

Trump SoHo was constructed by design experts

Trump SoHo was comprised of hotels, apartments and luxury eateries and bars. It also had the spa and pool. From the windows that ran from the floor to the ceiling guests could get to admire breathtaking views of New York City.

Handel Architects were tasked with the design. This 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 for interior design.

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

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

Bayrock Group and the Trump Organization strengthen their collaboration

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

Their vision was to design structures that were located in Arizona and Florida which resembled Trump SoHo. Trump Organization would have 18 percent equity in the building, and would be licensed under the same conditions. This would allow Trump to be added in the construction's name.

Despite the companies' goals however, the structures weren't built because of the 2008 global financial crisis.

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

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

He continued to work in the private sector.

Tevfik Arif has quit the majority of his daily responsibilities at Bayrock Group today. However, he continues to be a trusted advisor for Bayrock Group.

Bayrock Group is not currently involved in American real estate developments. In the past, during the time when the company was operating it was investing in real estate assets worth $2.5 million in the United States.



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