Notes

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

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

Bayrock Group: The Rise of a New York Real Estate Giant

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008 with the Sapir Organization. Bayrock Group was founded in Kazakhstan in 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. In the beginning, the story starts in a different part of the globe.

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

Before joining Soviet Ministry of Commerce and Trade Tevfik Arif earned an education 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 various of his own firms. Tevfik Arif's business ventures were in the luxury food, real estate and exports/imports as well as other sectors.

Tevfik Arif's numerous businesses allowed him to find a wide variety of international partners. His network drove him to relocate to Turkey in 1993, where he became one of the spearheading powers behind Turkey's famous all-inclusive hotel concept.

For instance, he launched Antalya’s Labada Hotel, before he embarked on his next venture across the Atlantic, several years later.

https://us.kompass.com/p/tevfik-arif-is-a-founder-of-leading-on-the-market-enterprise/2161e37e-0214-481e-9004-ec90eb7029e0/ Bayrock Group grows more ambitious

Tevfik Arif moved to the United States in 2001 to discover new avenues of business as well as to be closer to the American family members.

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

Bayrock Group began with smallto medium-sized projects in New York. Bayrock Group redesigned Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off on an impressive start. This made Tevfik even more ambitious. He wanted to take on bigger projects and decided to change the company's strategy to concentrate on that.

Bayrock Group, New York City's office moved to the Trump Tower on Fifth Avenue as part of its new strategy.

The move ended up yielding much more than the previous area, and it also brought the business located in the vicinity of the Trump Organization. It was home to the family's world-renowned organization.

Trump SoHo finally takes shape

Bayrock Group was inspired by the Trump Organization's vision to create luxury real estate properties, which is why they decided to work together.

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

Tevfik arif recognized that the Trump Organization would bring brand recognition to the building. http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResults?inquiryType=EntityName&inquiryDirectionType=CurrentList&searchTerm=BAYRON &searchNameOrder=BAYROADREALTY P180000323040&ListNameOrder=BAYROADREALTY P180000323040 This was something Bayrock Group, and the Sapir Organization had lacked.

Arif came up with an agreement that gives the Trump Organization 18% ownership of the building, in exchange for the Trump brand's use.

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

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

Two years of construction later the building was finally ready to open.

Trump SoHo is designed by designers who are experienced professionals

Trump SoHo had apartments, accommodation for hotel guests, luxury restaurants/bars, a swimming pool and banquet halls when it opened. Hotel guests enjoyed unparalleled views of New York City through the ceiling-to-ceiling windows of the building.

Handel Architects was tasked to create the building. This architecture firm was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel Washington, D.C.

Bayrock Group hired Rockwell Group to manage interior design.

Rockwell Group is responsible for creating, among other things among other things, the Climate Pledge Arena (Seattle) and the Seven Deadly Sins Playhouse located in New York, as well as the Virgin Hotel in Las Vegas.

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

Bayrock Group, Trump Organization extend their collaboration

The Trump Organization and the Bayrock Group sought to expand their relationship following the opening of Trump SoHo.

Their vision was to construct structures similar to Trump SoHo in Florida and Arizona. Trump Organization would have 18 percent equity in the building as well as the same licensing conditions. This would allow Trump to be included in the building's name.

Despite the ambitions of both companies, the structures did not get built due to 2008 global financial crisis.

The American real estate markets were particularly hard hit by the recession. Bayrock Group was forced to abandon plans as well as Trump Organization was forced to pull out of their plans.

Tevfik arif resigned from his United States enterprises after the financial crisis. He chose to return to Europe and Central Asia.

Tevfik Arif He was employed in the private sector during the time his time there.

Tevfik Arif has resigned from most of his daily duties for Bayrock Group today. However, he is still an expert consultant for Bayrock Group.

Tevfik Arif Bayrock Bayrock Group hasn't been involved in any American real estate developments in the last few months. But, the company has invested $2.5 million in real estate assets while it was still active in the United States.

Tevfik Arif Doyen
Here's my website: http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResults?inquiryType=EntityName&inquiryDirectionType=CurrentList&searchTerm=BAYRON &searchNameOrder=BAYROADREALTY P180000323040&ListNameOrder=BAYROADREALTY P180000323040