Notes

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

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

Bayrock Group: New York Real Estate Giant Rises

Bayrock Group opened Trump SoHo with the Trump Organization and the Sapir Organization in 2008. Bayrock Group's success began in Kazakhstan several decades before.

Bayrock Group was established in 2001, however the story of its growth and success luxury real estate development company in the United States is much older than that. The story started on the other side.

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

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 was a minister for 17 years, and later quit to establish his own businesses. Bayrock Tevfik Arif owned several firms that were involved in the development of luxury real estate as well as food exports and imports.


Tevfik Arif was able to create numerous international partnerships through his many companies. It was his networker that drove him to Turkey in 1993, where he became one of the pioneering factors behind Turkey's concept of an all-inclusive hotel.

For instance, he set up Antalya's Labada Hotel before embarking on his next venture across the Atlantic many years later.

Bayrock Group is becoming more ambitious

Tevfik arif came to the United States from Pakistan in 2001 to pursue new business avenues and be closer his American family.

Just after moving to New York, he founded the company for the development of luxury real estate called Bayrock Group in New York City.

Bayrock Group started out with small to medium-sized jobs in New York. Bayrock Bayrock Group, as an example revamped Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group had a great start and Tevfik Arif was thrilled about the potential. He was seeking bigger projects and his company's approach was changed in order to concentrate on them.

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

The move resulted in a lot more than just a new place of business because it placed the business near to the Trump Organization. Tevfik Arif Doyen The world-renowned family organization namely resided in the same building.

Trump SoHo finally takes shape

The Trump Organization and Bayrock Group had the same vision for luxury real estate projects. So, the two companies made the decision to merge.

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

Tevfik Arif was aware that the Trump Organization's participation in this project could give the building a brand image that Bayrock Group or the Sapir Organization did not have.

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

The three parties to the agreement, Bayrock Group and Trump Organization have ratified.

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

The building was completed following two years of laborious work.

Design professionals lead the construction of Trump SoHo

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. There was also the spa and pool. Through the hotel's floor to ceiling windows, guests could enjoy breathtaking views of New York City.

Handel Architects was tasked by the design of the structure. The architectural firm previously created the famed National September 11th Memorial & Museum (New York City) and the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group hired Rockwell Group to manage interior design.

Bayrock Rockwell Group is responsible for the design of, among others, the Climate Pledge Arena (Seattle), the Seven Deadly Sins Playhouse located in New York, as well as the Virgin Hotel in Las Vegas.

International experience is also available from countries like Spain, Mexico, and Indonesia.

Bayrock Group and Trump Organization increase their partnership

The Bayrock Group and the Trump Organization were looking to expand their partnership after the opening Trump SoHo.

Their goal was to build structures that were located in Arizona and Florida that resembled Trump SoHo. Tevfik Arif Doyen Trump Organization would have 18% ownership of the building, and would be licensed under the same conditions. This will permit Trump to be added in the building's name.

Despite the ambitions and plans of the companies, the structures could not be constructed due to the 2008 global economic downturn.

The American real estate market was the most affected by the financial crisis. https://midhudsonnews.com/2020/08/14/tevfik-arif-revealed-the-man-behind-bayrock-group-and-trump-soho/ Bayrock Group, and the Trump Organization were forced to end their plans.

Tevfik Anif decided to quit his American businesses because of the financial crisis. He chose to go back to Europe and Central Asia.

He shifted to the private sector and continued to work.

Today, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. But, he remains an expert consultant for Bayrock Group.

Bayrock Group has not been involved in any American real-estate projects in the past, however it did invest real property assets in the United States worth $2.5million when it was active.

https://www.bloomberg.com/profile/company/0836124D:US

Website: https://medium.com/@bayrockaulr181/public-to-private-sector-how-tevfik-arif-successfully-changed-his-path-f5726cbd5477