Notes

Bayrock Group: New York Real Estate Giant The rise and fall of Bayrock Group (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's Real Estate Giant is Rising

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008, along with the Sapir Organization. Bayrock Group was founded in Kazakhstan in 1980.

The story of the luxurious real estate development company Bayrock Group's growth in the United States begins long before the company's establishment in 2001. The story starts on the other side.

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

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

After working in the ministry for 17-years the minister decided to step down and start several businesses. Tevfik Arif was involved in the development of luxury real estate, food, exports and imports among others.


Due to his numerous businesses, Tevfik Arif acquired a diverse array of international partners. The network he built led him to move to Turkey in 1993, when he became one of the spearheading powers behind Turkey's famous all-inclusive hotel concept.

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 Group takes on more ambitious goals

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

He relocated to New York City just after the creation of Bayrock Group, a luxury real estate development firm.

Tevfik Arif Bayrock Group was a small and medium-sized firm that started in New York. For instance, Bayrock Group redesigned Loehmann’s Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Group was an excellent beginning. It gave Tevfik arif more motivation. He wanted to work on larger projects, and so he made the decision to move the company's focus on the area of.

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 higher profit than any other place. The company was located in close proximity to the Trump Organization. The world-renowned family business resided in the same building.

Trump SoHo gets shape

Bayrock Group & Trump Organization came up with a concept of luxury real property projects. So, they decided to combine forces.

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

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

Arif created an agreement giving the Trump Organization 18% equity in the building in exchange for the usage of the Trump brand under its name.

The proposed deal was accepted by Bayrock Group (the Trump Organization) and the Sapir Organization (the Sapir Organization).

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

After two years of construction the building was finally ready for its grand opening.

Design veterans are the architects behind Trump SoHo

Trump SoHo was comprised of hotels, apartments as well as luxury bars and restaurants. There was also a pool and a spa. https://midhudsonnews.com/2020/08/14/tevfik-arif-revealed-the-man-behind-bayrock-group-and-trump-soho/ Hotel guests could enjoy breathtaking views of New York City through the ceiling-to-ceiling windows of the building.

Handel Architects was tasked to create the building. The architectural firm previously developed the famous National September 11th Memorial & Museum (New York City) and the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group employed Rockwell Group to take care of the interior design of the building.

Rockwell Group has, for instance created the Climate Pledge Arena in Seattle, the Seven Deadly Sins Theatre in New York and the Virgin Hotel in Las Vegas.

The firm also has experience dealing with countries around the world, such as Mexico, Spain, and Indonesia.

Bayrock Group and Trump Organization increase their partnership

The Bayrock Group and Trump Organization were seeking to expand their partnership following the opening of the opening of Trump SoHo.

Tevfik Arif Bayrock Their vision was to construct structures similar to Trump SoHo in Florida and Arizona. Trump Organization would have 18% equity in the building, also under the same licensing conditions. It would once again permit Trump to be named as part of the name of the building.

Despite their lofty goals they were not created due to the 2008 global financial crisis.

The American real property market was especially affected by the crisis and Bayrock Group and Trump Organization were forced to stop their plans.

The financial crisis ended up altering the American real property market to the extent that Tevfik Arif decided to leave his United States undertakings. He decided to return to Europe or Central Asia.

He was transferred to the private sector and continued his employment.

Tevfik Arif has resigned from the majority of his daily duties at Bayrock Group today. Bayrock But, he will continue to be a trusted advisor to Bayrock Group.

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

Bayrock

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