Notes

Bayrock Group: New York Real Estate Giant The Rise and Fall of Bayrock Group (Tevfik arif)

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

Bayrock Group: New York Real Estate Giant Rises

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). The Bayrock Group's success started in Kazakhstan decades earlier.


Bayrock Group is a luxury development firm that specializes in the area of luxury real estate. The success of Bayrock Group in the United States goes back long before its 2001 establishment. Tevfik Arif Doyen The story begins at the other side of the planet.

Tevfik who was born in Soviet Kazakhstan to a Turkish family, established the Bayrock Group.

Tevfik Arif Doyen Before joining the Soviet Ministry of Commerce and Trade in the Soviet Union, Tevfik earned a degree at the Moscow Trade and Economic Institute.

After 17 years in the ministry, he left to start his own business. Tevfik Arif was involved in luxury real estate development, food, exports and imports among other.

Tevfik Arif has many companies which have allowed him to achieve a range of partners around the world. His connections brought him to Turkey in 1993, where he was among the key people behind Turkey's famed all-inclusive hotels.

Tevfik Arif For example, he opened the Labada Hotel Antalya, before embarking on his next venture across the Atlantic several more years later.

Bayrock Group is becoming more ambitious

Tevfik Arif emigrated to the United States in 2001 to explore new avenues for business and also to be closer to his American part of his family.

Tevfik Arif Following his move to New York, he founded the luxury real estate development firm Bayrock Group in New York City.

Bayrock Group began with small- to medium-sized projects around New York. Bayrock Group has redesigned the Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was an excellent start. It allowed Tevfik Arif more determination. He wanted bigger projects and changed the strategy of the business to make it more focused.

Bayrock Group, New York City's office moved to the Trump Tower on Fifth Avenue in line with its new strategy.

The move brought about a lot more than just an additional site. It also put the company in close proximity to the Trump Organization. The building also served as home to the internationally renowned family company.

Trump SoHo finally takes shape

Bayrock Group was inspired by Trump's dream to develop luxurious real estate properties and they decided to join forces.

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 involvement in this project could give the building an identity which Bayrock Group or the Sapir Organization didn't have.

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

All three parties in the deal, Bayrock Group and Trump Organization have ratified.

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

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

Trump SoHo was constructed by design professionals

When it opened, Trump SoHo consisted of apartments, hotel rooms, luxury eateries and bars, a pool, a spa, banquet and event spaces. The hotel guests had unparalleled views of New York City from the ceiling-to-ceiling windows.

Handel Architects was tasked as the architect. The renowned architectural firm also created the National September 11th Memorial & Museum and the Ritz the Carlton Hotel in Washington, D.C.

Bayrock Group hired Rockwell Group to design the interior of the building.

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

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

Bayrock Group and Trump Organization expand their partnership

The Bayrock Group and Trump Organization had been looking to extend their partnership following the opening of the opening of Trump SoHo.

Their vision was to construct buildings like Trump SoHo in Arizona and Florida. Trump Organization would have 18% equity in the building also under the same licensing conditions. This could open the way to Trump being named in the building's name.

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

The American real estate market was particularly affected by the recession which caused Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Arif Bayrock Tevfik Ariff decided to quit the United States to escape the economic crisis that had altered the real estate market in America. He decided to return to Europe or Central Asia.

He continued to job in the private sector.

This morning, Tevfik Aif has resigned from the majority of his Bayrock Group responsibilities. He is still a trusted consultant for Bayrock Group.

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



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