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

Trump SoHo was opened by Bayrock Group in 2008, along with the Trump Organization (the Trump Organization) as well as the Sapir Organization.

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

Bayrock Group opened Trump SoHo along with the Trump Organization and the Sapir Organization in 2008. Bayrock Group was founded in Kazakhstan in 1980.

Bayrock Group is a luxury development company that specializes in the field of luxury real estate. The success of Bayrock Group in the United States goes back long prior to its establishment in 2001. At first, the story began in a different region of the world.

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

Before joining the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from the Moscow Trade and Economic Institute.

He worked in the ministry for 17 years, and later left to open his own business. Tevfik Arif's firms included luxury real estate development exports, food and imports, among others.

Tevfik Arif has many companies which have enabled him to achieve a range of partners from all over the world. Tevfik Arif It was his networker who brought him to Turkey in 1993 to become one of the pioneering forces behind Turkey's concept of an all-inclusive hotel.

For example, he opened the Labada Hotel Antalya, before moving on to his next venture across the Atlantic some time later.

Bayrock Bayrock Group grows more ambitious

Tevfik Arif moved to the United States in 2001 to pursue business opportunities that were not available and to be close to his American family.

Just after moving in with his family, he started the luxurious real estate development company Bayrock Group in New York City.

Bayrock Group started out with small - to medium-sized projects in New York. For instance, the Bayrock Group renovated Loehmann's Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Group was off on an excellent start. This led to Tevfik becoming more ambitious. He wanted bigger projects and changed the strategy of the company to focus it on its core business.

Bayrock Group moved its New York City headquarters to the Trump Tower Fifth Avenue in to support of the strategic shift.

It was a move that resulted in a higher profit than any other place. The company was located in close proximity to the Trump Organization. The renowned family business was headquartered in the same building.

Trump SoHo takes shape

Bayrock Group and Trump Organization have the same goals for luxurious real estate projects. The two firms decided to collaborate.

Bayrock Group was already collaborating with the Sapir Organization to complete another project on Spring Street, Manhattan's SoHo quarter.

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

Arif wrote an agreement that gave the Trump Organization 18% equity in this building in return for the Trump brand being used to promote its name.

The proposed deal was approved by Bayrock Group (the Trump Organization) and the Sapir Organization (the Sapir Organization).

This opened the door for the very first Trump SoHo brick to be built in 2006.

The building was completed following two years of laborious work.

Bayrock Trump SoHo construction led by experts in design

Trump SoHo included apartments, rooms for guests, luxury restaurants, bars, lounges with a pool and restaurant, spa and banquet rooms. Through the hotel's floor-to- ceiling windows, guests were able to enjoy stunning views of New York City.

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

Bayrock Group engaged 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.

The firm has also international experience which includes Mexico, Spain, Indonesia as well as Mexico.

Bayrock Group expands partnership with the Trump Organization

The Trump Organization and the Bayrock Group wanted to extend their partnership after the launch of Trump SoHo.

Their dream was building structures in Arizona or Florida like Trump SoHo. Trump Organization would have 18% equity in the building also under the same licensing conditions. This could open the way to Trump being included in the construction’s name.

Despite both companies' goals, the structures were not created due to the global 2008 financial crises.

The American real estate markets were particularly affected by the recession. Bayrock Group was forced to withdraw plans as well as Trump Organization was forced to withdraw their plans.

https://bayrockrpjo824.doodlekit.com/blog/entry/21421964/what-attracts-trump-and-bayrock-groups-tevfik-arif-to-turkey- Tevfik Ariff decided to quit the United States to escape the economic crisis that had altered the real estate market in America. He made the decision to go back to Europe or Central Asia.

He shifted to the private sector and continued to work.

Bayrock Tevfik Arif has quit the majority of his daily duties at Bayrock Group today. Arif is still a respected consultant to Bayrock Group.

Bayrock Group was not involved in any American Real Estate projects recently, however, the firm made an investment of $2.5 Million in real estate assets in the United States when it was actively investing.


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