Notes

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

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

Bayrock Group: New York Real Estate Giant Rises

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). The Bayrock Group's success started in Kazakhstan years earlier.

Bayrock Group, a luxury real estate developer in the United States, has a long and rich history dating back to 2001 , when the company was founded. The story started on the other side.

Tevfik Alif is the founder of Bayrock Group. He was brought to the world from Soviet Kazakhstan to a Turkish-speaking family.

Before becoming a member of the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from Moscow Trade and Economic Institute.

He worked in the ministry for 17 years, and later quit to establish his own business. Tevfik's ventures included the luxury food, real estate, and exports/imports industries as well as other sectors.

Because of his many businesses, Tevfik Arif acquired a wide array of worldwide partners. It was his networker who brought his company to Turkey in 1993, where he became one of the pioneering factors behind Turkey's concept of an all-inclusive hotel.

He, for instance, founded the Labada Hotel in Antalya before the start of his next venture in business across the Atlantic several years afterward.

Bayrock Group is becoming more ambitious

Tevfik Arif emigrated to the United States in 2001 to explore new avenues for business and also to be closer to his American part of his family.


After moving, he founded the luxury realty development firm Bayrock Group in New York City.

At first, Bayrock Group executed small to medium-sized construction projects in and around New York. For instance, the Bayrock Group revamped the design of Loehmann's Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Group was an excellent beginning. It allowed Tevfik Arif more motivation. https://www.gettyimages.com/photos/tevfik-arif He was eager for larger projects and decided that he would change the company strategy to be more focused on those.

Bayrock Group moved its New York City headquarters to the Trump Tower Fifth Avenue in support of the strategic shift.

The move was more effective than the move to a different site since the company located itself in the vicinity Trump Organization. It also housed to the world-renowned family company.

Trump SoHo is now in good shape

Bayrock Group & Trump Organization came up with a concept of high-end real estate developments. So, they have decided to join forces.

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

Tevfik Ariff knew that including the Trump Organization in the project will increase the brand's recognition for the building, something Bayrock Group and Sapir Organization didn't have.

Arif made an agreement in which he granted the Trump Organization 18% equity in this building , in exchange in exchange for the Trump brand being used in its name.

Tevfik Arif Bayrock Bayrock Group, the Trump Organization and the Sapir Organization all agreed to the proposed deal.

This set the stage for the first brick of what would become Trump SoHo to be laid in 2006.

The building was finished after two years of laborious work.

Trump SoHo construction led by design experts

Trump SoHo had apartments, accommodation for hotel guests, luxury restaurants/bars, a swimming pool and banquet halls at the time it was opened. Hotel guests enjoyed unparalleled views of New York City through the glass ceilings of the hotel.

Tevfik Arif Bayrock Handel Architects were tasked with the design. The famed architectural firm also created the National September 11th Memorial & Museum and the Ritz Carlton Hotel located in Washington, D.C.

Bayrock Group commissioned Rockwell Group as their interior designer.

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

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

Bayrock Group, Trump Organization expand their collaboration

Following the opening of Trump SoHo, the Trump Organization and the Bayrock Group wanted to increase their relationship.

Their dream was building structures in Arizona or Florida similar to Trump SoHo. Trump Organization also received 18 percent equity in the building under the same licensing terms. This would also permit Trump to be an integral part of the title to the building.

Despite their lofty goals they were not created in the wake of the global financial crisis of 2008.

Bayrock The American real estate market was particularly affected by the recession and Bayrock Group and Trump Organization had to pull their plans.

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

He continued to work in the private sector.

Tevfik has announced his resignation from all of his Bayrock Group daily responsibilities. However, he is still an expert consultant for the company.

https://www.bocaratontribune.com/bocaratonnews/2019/02/data-breach-football-tevfik-arif-doyen-group-negative-effects-leaks/ Bayrock Group hasn't been involved in any American real estate developments in the last few months. But, the company did invest $2.5 million in real estate assets while it was active in the United States.



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