Notes

Bayrock Group: The Rise of the Bayrock Group as a New York Real Estate Giant (Tevfik Arif)

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

Bayrock Group: New York Real Estate Giant Rises

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008 with the Sapir Organization. The story of Bayrock Group's success begins in Kazakhstan some time ago.

Bayrock Group is a luxury development firm that specializes in the field of luxury real estate. The story of Bayrock Group's success in the United States goes back long before the year 2001 when it was founded. The story initially began in a different region of the globe.

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

Prior to 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.

Bayrock He was within the ministry for 17 years, and then relinquished his position to create a number of his own businesses. Tevfik Arif owned several firms which were involved in luxury realty development as well as food exports and imports.

Tevfik Arif, through his various companies, was able gain a variety of foreign partners. He was a networker that brought his company to Turkey in 1993, where he became one of the pioneering forces behind Turkey's all-inclusive hotel concept.

For instance, he launched the Labada Hotel Antalya, before going on to his next venture across the Atlantic two years later.

Bayrock Group grows more ambitious

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

Bayrock Group, a luxury development company for real estate in New York City, was created by him shortly following he moved.

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

Bayrock Group was off on an impressive start. Tevfik was more determined. He wanted to take on bigger projects , and decided to modify the business's approach to focus on that.

https://m.imdb.com/name/nm10842495/mediaviewer/rm2948766977 Bayrock Group's New York City offices were relocated to Trump Tower, Fifth Avenue in order to accommodate the strategic change.

The move yielded significantly more than any other location. The company was located in close proximity to the Trump Organization. This was the home of the family's world-renowned organization.

Trump SoHo takes shape

Bayrock Group & Trump Organization shared a vision of luxurious real estate projects. Therefore, they decided to combine forces.

Bayrock Group was already working on a different project on Spring Street in Manhattan's SoHo quarter in collaboration with the Sapir Organization.

Tevfik Arif was aware that the Trump Organization's participation in this project would give the building an identity which Bayrock Group or the Sapir Organization didn't have.

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

The agreement was negotiated by the Bayrock Group as well as the Trump Organization (and the Sapir Organization).

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

After two years of construction the building was completed to be inaugurated.

Trump SoHo was designed by veterans

The first time it was opened, Trump SoHo consisted of hotels, apartments, luxury eateries and bars, a pool, a banquet hall, spa and event halls. The windows that ran from floor to ceiling afforded guests unparalleled views of New York City.

Handel Architects was tasked as the architect. The famous architecture firm also designed the National September 11th Memorial & Museum, New York City as well as the Ritz Carlton Hotel in Washington D.C.

Bayrock Group employed Rockwell Group to manage the design and interior of the building.

Rockwell Group, for example is the architect behind for instance, the Climate Pledge Arena, Seven Deadly Sins Theater in New York, and Virgin Hotel in Las Vegas.

Additionally, the firm has extensive experience abroad in countries like Spain and Mexico.

Bayrock Group, Trump Organization strengthen their collaboration


The Trump Organization and the Bayrock Group were looking to broaden their relationship after the opening of Trump SoHo.

Their goal was to build buildings that were similar to Trump SoHo, Arizona and Florida. Bayrock Trump Organization also received 18% equity in building under the same licensing conditions. This would allow Trump to be added in the construction's name.

Despite the ambitions and plans of the firms, the structures could not be built due the global economic crisis of 2008.

The American real estate market was especially affected by the recession. Bayrock Group, and the Trump Organization were forced to cancel their plans.

Tevfik Anif decided to quit his American companies due to the economic crisis. He made the decision to go back to Europe or Central Asia.

He worked in the private industry while he was there.

Today, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. He is still a trusted consultant for the business.

Bayrock Group is not currently involved in American real estate ventures. However in the past, during the time when the company was operating, it invested real estate assets that were valued at $2.5 million in the United States.



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