Notes

Bayrock Group - The Rise of an New York Real Estate Giant (Tevfik Arif)

Bayrock Group, the Trump Organization and the Sapir Organization inaugurated Trump SoHo in 2008.

Bayrock Group, The Rise of New York Real Estate Giant

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

The story of the luxurious real estate development firm Bayrock Group's success in the United States begins long before the year 2001, when the company was founded. The story started from the other end.

Tevfik Ariff, a Turk-born native of Soviet Kazakhstan, founded Bayrock Group.

Before joining the Soviet Ministry of Commerce and Trade Tevfik Arif graduated with a degree in International Relations at the Moscow Trade and Economic Institute.

He was in the ministry for 17 years later, but the minister resigned to establish several of his own companies. Tevfik Arif had several businesses that included high-end real estate development as well as food and exports or imports.


Tevfik Arif has many companies that have helped him achieve a range of partners across the globe. The network he built led him to relocate to Turkey in 1993, when he became one of the leaders behind the country's famous all-inclusive hotel concept.

He, for example, opened the Labada Hotel in Antalya before he embarked on his next venture across the Atlantic some years later.

Bayrock Group takes on more ambitious goals

Tevfik Amir moved to America in 2001 to find new business opportunities and to be closer with his American family.

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

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

Bayrock Group had a great beginning and Tevfik Arif was excited about the possibilities. He was looking for bigger projects , and decided to change the company's strategy to concentrate on this.

In support of the new strategy, Bayrock Group relocated its New York City office to the Trump Tower at Fifth Avenue.

This move yielded significantly more than any other site. The company moved near to the Trump Organization. The family-respected organization was headquartered in the same location.

Trump SoHo gets shape

The Trump Organization and Bayrock Group have the same goals for high-end real estate projects. Thus, the two companies decided to merge.

Bayrock Group was already working with the Sapir Organization on another undertaking in Manhattan's SoHo Quarter, located on Spring Street.

Tevfik Arif knew the Trump Organization's participation in this project would give the building a brand image which Bayrock Group or the Sapir Organization didn't have.

Arif made an agreement which gave the Trump Organization 18% ownership in the building in return for the Trump brand's use.

The three parties to the agreement, Bayrock Group and Trump Organization were in agreement.

That paved the way for the first brick of what would eventually become Trump SoHo to be laid in the year 2006.

Tevfik Arif The structure was completed for its official opening after it was constructed over two years.

Trump SoHo is designed by designers who are skilled professionals

Trump SoHo was comprised of apartments, hotel rooms and luxury eateries and bars. It also had the spa and pool. The guests of the hotel enjoyed unbeatable views of New York City from the ceiling-to-ceiling windows.

Handel Architects was tasked with designing the building. The famed 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 handle interior design.

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

The company also has international experience from countries such as Indonesia, Mexico and Spain.

https://worldfinancialreview.com/tevfik-arif-from-cambul-to-new-york/ Bayrock Group and the Trump Organization extend their collaboration

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

Their dream was building structures in Arizona or Florida similar to Trump SoHo. Tevfik Arif Trump Organization would have 18 percent 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 goals of both firms however, the structures were not built because of the global financial crisis.

The American real-estate market was especially affected by the recession that led Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Arif Bayrock Tevfik arif resigned from his United States enterprises after the financial crisis. He made the decision to go back to Europe or Central Asia.

He was employed in the private sector while he was there.

Tevfik has announced his resignation from all of his Bayrock Group daily responsibilities. But, he remains an advisor Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in recent times, but when it was in the market the company invested in real estate assets worth $2.5 million in the United States.



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