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Bayrock Group: The Rise of a New York Real Estate Giant (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 along with the Trump Organization and Sapir Organization in 2008. However, the story of Bayrock Group's success starts in Kazakhstan decades before.

Tevfik Arif The story of the luxurious real estate development firm Bayrock Group's successes in the United States begins long before the company's establishment in 2001. The story started on the other side.

Tevfik Arif is the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by an Turkish family.

Tevfik Arif graduated with an undergraduate degree in International Relations at the Moscow Trade and Economic Institute prior to joining the Soviet Ministry of Commerce and Trade.

After 17 years in the ministry, he resigned to establish his own company. Tevfik Arif's companies were in the fields of luxury real estate development exports, food and imports, in addition to.

Tevfik Arif was able to make many international alliances through his many companies. He was able to lead Turkey's renowned all inclusive hotel model through his network.

In the past, for instance, he launched Antalya's Labada Hotel before embarking on his next venture in business over the Atlantic several years later.

Bayrock Bayrock Group gets more ambitious

Tevfik Amir emigrated to America in 2001 to explore new business opportunities as well as to be closer to his American family.

After moving to the United States, he started the development company for luxury real estate Bayrock Group in New York City.

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

Bayrock Group was off to great start and it made Tevfik Arif increasingly ambitious. He was looking for bigger projects and changed the strategy of the business to focus it on its core business.

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

The move brought about a lot more than just another site. It also put the company in close proximity to the Trump Organization. The family-respected organization was headquartered in the same location.

Trump SoHo comes to life

Bayrock Group and Trump Organization had the same vision of luxurious real estate projects. The two companies decided to collaborate.

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

Tevfik Arif was aware that the Trump Organization's inclusion to this project would provide the building an identity that Bayrock Group or the Sapir Organization didn't have.

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

All three parties in the agreement, Bayrock Group and Trump Organization, agreed.

This opened the way to Trump SoHo, which would be the first brick laid in 2006.

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

Design professionals lead the construction of SoHo Trump SoHo

Trump SoHo had apartments, hotels, luxurious restaurants/bars, a swimming pool and banquet halls at the time it was opened. The hotel guests had unparalleled perspectives of New York City from the ceiling-to-ceiling windows.

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

Bayrock Group engaged Rockwell Group to design interiors.


Rockwell Group designed, among others among other things, among others, the Climate Pledge Arena as well as the Seven Deadly Sins Theatre in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

The firm also has experience in international countries such as Indonesia, Mexico and Spain.

Bayrock Group and the Trump Organization extend their collaboration

Following the opening of Trump SoHo, the Trump Organization and the Bayrock Group wanted to increase their partnership.

Their dream was for buildings that were similar to Trump SoHo, Arizona and Florida. Trump Organization was also granted the same license terms and was left with 18% equity in this construction. This would open the door to Trump being included in the construction’s name.

Tevfik Arif Despite the ambitions of both companies however, the structures weren't completed due to the 2008 global financial crisis.

Tevfik Arif Bayrock The American real estate market was particularly affected by the financial crisis, which led Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Arif Bayrock Tevfik Anif decided to leave his American companies due to the economic crisis. He decided to return to Europe, Central Asia.

He continued to work in the private sector.

Tevfik Alif has resigned as the Bayrock Group's chief executive officer. He is still a trusted consultant for the company.

Tevfik Arif Doyen Bayrock Group hasn't been involved in any American real estate developments in the last few months. However, the firm did invest $2.5 million worth of real estate properties when it was still active in the United States.



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