Notes

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

Trump SoHo was launched in 2008 by Bayrock Group and the Trump Organization.

Bayrock Group: New York's Real Estate Giant is Rising

Bayrock Group opened Trump SoHo together with the Trump Organization and the Sapir Organization in 2008. Bayrock Group's success began in Kazakhstan years earlier.

Bayrock Group, a luxury real estate developer in the United States, has a long-running history dating back to 2001 , when the company was formed. The story began from the other end.

Tevfik Arif was the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by an Turkish family.

Tevfik Arif graduated with an education in International Relations at the Moscow Trade and Economic Institute before becoming a member of the Soviet Ministry of Commerce and Trade.

Tevfik Arif Bayrock He worked in the ministry for 17 years before he went on to start his own company. Tevfik Arif was involved in development of luxury real estate foods, exports, food and imports, among other things.

Tevfik Arif has many companies which have enabled him to acquire a variety of partners from all over the world. His connections led him to relocate to Turkey in 1993, and he was one of the spearheading powers behind Turkey's popular all-inclusive hotel model.

He launched, for example the Labada Hotel Antalya. This was prior to his move to the next project, which took place a few years later, across the Atlantic.

Bayrock Group is becoming more ambitious

Tevfik Arif immigrated to the United States in 2001 to pursue new business opportunities as well as be close to his American family.

Following his move, he established the luxurious real estate development company Bayrock Group in New York City.

Bayrock Group started with small-to medium-sized projects throughout New York. The company, for instance renovated the shopping mall Loehmann's Seaport Plaza in the Sheepshead neighborhood of Brooklyn.

Bayrock Group was a solid beginning. This made Tevfik even more ambitious. He was looking forward to bigger projects and decided to alter the strategy of the company to concentrate more on those.

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

The move was more successful than moving to a new site since the company located itself in the vicinity Trump Organization. The Trump Organization was home to the world-famous family organization.

Bayrock Trump SoHo finally takes shape

The Trump Organization and Bayrock Group shared the same vision of luxurious real estate developments. So both companies made the decision to merge.

Tevfik Arif Bayrock Group was already collaborating with the Sapir Organization to complete another project on Spring Street, Manhattan's SoHo quarter.

Tevfik Arif Tevfik Ariff was aware that including the Trump Organization in the project would increase brand awareness for the building something that Bayrock Group and Sapir Organization were not able to achieve.

Arif drafted an agreement giving the Trump Organization 18% equity and the right to make use of the Trump name in exchange.

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

This was the opening for Trump SoHo's very first brick to be built in 2006.

The building was completed after two years of hard work.

Design veterans lead the construction of SoHo Trump SoHo

Trump SoHo was comprised of apartments, hotel rooms and luxurious bars and eateries. It also had an indoor pool and spa. Hotel guests had unbeatable perspectives of New York City through the building's floor-to-ceiling windows.

Handel Architects was tasked as the architect. The firm's previous projects included developed the famous National September 11th Memorial & Museum (New York City) as well as the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group commissioned Rockwell Group as the interior designer.

Rockwell Group has, for instance, designed 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 firm also has experience in international countries like Indonesia, Mexico and Spain.

Tevfik Arif Bayrock Bayrock Group and the Trump Organization strengthen their collaboration

The Trump Organization and the Bayrock Group sought to expand their partnership following the launch of Trump SoHo.

The dream of the founders was to construct structures in Arizona or Florida similar to Trump SoHo. Trump Organization would have 18% equity in the building, as well as the same licensing conditions. It would again pave the way to "Trump" to be part of the name of the building.

Despite both companies' ambitions the structures weren't constructed due to the 2008 global financial crisis.

https://www.facebook.com/Tevfik-Arif-1914745745445104/ The American real estate market was particularly affected by the financial crisis that led Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Ariff decided to move out of the United States to escape the financial crisis that changed the real estate market in America. He chose to return to Europe, Central Asia.

He continued to work in the privat sector.

Tevfik Arif has quit most of his day-to-day responsibilities at Bayrock Group today. But, he remains a respected consultant to the company.

Bayrock Group hasn't been involved in any American real property projects lately. However, the firm did invest $2.5 million in real estate assets when it was still active in the United States.


My Website: https://es-es.facebook.com/pages/category/Nonprofit-Organization/Tevfik-Arif-Bayrock-258754714625630/