Notes

Bayrock Group, The Rise of New York Real Estate Giants (Tevfik Arif)

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

Bayrock Group, The Rise of New York Real Estate Giant

Bayrock Group opened Trump SoHo alongside the Trump Organization in 2008 and the Sapir Organization. The Bayrock Group's success started in Kazakhstan several decades before.

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

Tevfik Alif founded Bayrock Group. He was born in Soviet Kazakhstan to a Turkish-speaking family.

Prior to joining the Soviet Ministry of Commerce and Trade Tevfik Arif received a degree in International Relations at the Moscow Trade and Economic Institute.

After being for 17 years in the ministry, he decided to leave and set up a number of businesses. https://midhudsonnews.com/2020/08/14/tevfik-arif-revealed-the-man-behind-bayrock-group-and-trump-soho/ The firms of Tevfik arif included development of luxury real estate exports, food and imports, among others.

Tevfik Arif was able to create numerous international partnerships through his many companies. He became a leader in the famous all-inclusive hotel model through his network.

He, for instance, founded the Labada Hotel in Antalya before he embarked on his next venture in business across the Atlantic some years afterward.

Bayrock Group takes on more ambitious goals

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

https://www.linkedin.com/company/bayrock He relocated to New York City just after establishing Bayrock Group, a luxury real estate development firm.

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

Bayrock Group was off to an excellent start, and this made Tevfik arif more determined. Tevfik Arif Bayrock He was seeking bigger projects and he changed the strategy of the company to focus on them.

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

The move was more effective than moving to another location as the company found itself in the vicinity of Trump Organization. It was the home of the world-renowned family business.

Bayrock Trump SoHo finally takes shape

Bayrock Group was inspired by Trump's dream to build luxury real estate properties, and they decided to join forces.

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

Tevfik arif realized that the Trump Organization would bring brand recognition to the building. This was something Bayrock Group, and the Sapir Organization had lacked.

Arif created an agreement which allowed the Trump Organization to own 18% of the building, in exchange for the Trump logo being utilized.

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

The doors opened to Trump SoHo, which would be the first building to be completed in 2006.

After two years of labor, the building was ready and waiting for its inauguration.

Trump SoHo is built by designers who are experienced professionals

Trump SoHo opened in Manhattan and featured hotels, apartments and upscale restaurants and bars. The building also had the pool, a spa and banquet halls. Hotel guests enjoyed breathtaking perspectives of New York City from the high ceilings and floor-to-ceiling windows.

Handel Architects was tasked to create the structure. The architecture firm had recently created the world-renowned National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

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

Rockwell Group was responsible for the design of the Climate Pledge Arena in Seattle as well as the Seven Deadly Sins theatre in New York.


The firm also has international experience, including from Mexico, Spain, Indonesia as well as Mexico.

Bayrock Group expands partnership with the Trump Organization

After the launch of Trump SoHo, the Trump Organization and the Bayrock Group wanted to increase their collaboration.

Their vision was to construct buildings similar to Trump SoHo in Florida and Arizona. Trump Organization would have 18% equity in the building, also under the same licensing conditions. This would also permit Trump to be in the title of the construction.

Despite their goals, these structures were never built due to the 2008 global financial crisis.

The crisis especially hit the American real estate market and, therefore, forced Bayrock Group and the Trump Organization to rethink their plans.

Tevfik Alif, an Tevfik Arif employee in the United States, decided to end his American ventures because of the impact of the financial crisis. Tevfik Arif Tevfik Arif Bayrock He decided to move to Europe and Central Asia.

In the meantime, he worked in the private sector.

Tevfik Arif Doyen Tevfik Arif has quit the majority of his tasks for Bayrock Group today. He will however continue to serve as a respected consultant to Bayrock Group.

Bayrock Group was not involved in any American Real Estate ventures Recently, however, the company invested $2.5 Million in real estate assets in the United States when it was actively investing.



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