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, along with the Trump Organization (the Trump Organization) as well as the Sapir Organization.

Bayrock Group, The Rise of New York Real Estate Giant

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

Bayrock Group's success as a luxury real-estate development company in the United States began long before 2001. In the beginning, the story began in a different region of the world.

Tevfik, who was born in Soviet Kazakhstan to a Turkish family, founded Bayrock Group.

Before being appointed to the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned a degree from the Moscow Trade and Economic Institute in International Relations.

The ministry he was in for 17 years, but then left to create several of his own companies. Tevfik Arif’s businesses were in the luxury real estate, food, and exports/imports sectors, among others.

Through his various businesses, Tevfik Arif acquired a diverse array of international partners. It was his networker who brought his company to Turkey in 1993 to become one of the pioneering factors behind Turkey's concept of an all-inclusive hotel.

He also opened, for instance the Labada Hotel Antalya. This was before he moved on to the next project that was a couple of years later across the Atlantic.

Bayrock Group is becoming more ambitious

Tevfik Arif moved to the United States in 2001 to discover new avenues of business and to be closer to the American part of his family.

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

Bayrock Group started out with small-to-medium-sized jobs in New York. Tevfik Arif For instance, the Bayrock Group redesigned Loehmann’s Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Group was off to an excellent start, and it made Tevfik Arif more eager. He was keen to take on bigger projects and decided that he would change the company strategy to be more focused on these projects.

Bayrock Group moved its New York City offices to the Trump Tower on Fifth Avenue to coincide with the change in strategy.

Tevfik Arif Tevfik Arif The move brought about much more than the addition of a new location. It also put the company in close proximity to the Trump Organization. The world-renowned family company was housed in the same structure.

Trump SoHo is now in form

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

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

Tevfik Arif Bayrock Tevfik Alif knew that bringing the Trump Organization to the project would add brand awareness to the building that Bayrock Group lacked and that the Sapir Organization was lacking.

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

All three parties to the agreement, Bayrock Group and Trump Organization, agreed.

That was the foundation for Trump SoHo's first brick to be laid in the year 2006.

The building was finished after two years of hard work.

Trump SoHo is designed by designers who are seasoned professionals

Trump SoHo was comprised of apartments, hotel rooms and luxurious bars and eateries. It also had an indoor pool and spa. From the building's floor–to-ceiling windows guests could get to admire breathtaking views of New York City.

Handel Architects was tasked as the architect. 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 commissioned Rockwell Group as the interior designer.

Tevfik Arif Doyen Tevfik Arif Doyen Rockwell Group is responsible for the design of, among others, the Climate Pledge Arena (Seattle) and the Seven Deadly Sins Playhouse in New York, as well as the Virgin Hotel in Las Vegas.

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

Bayrock Group expands partnership with the Trump Organization

The Trump Organization and the Bayrock Group were looking to broaden their collaboration following the launch of Trump SoHo.

The dream of the founders was to construct new buildings in Arizona or Florida similar to Trump SoHo. Trump Organization also received 18% equity in building under the same licensing conditions. It would also allow Trump to be in the title of the construction.

Despite both companies' goals, the structures did not get created due to the global 2008 financial crises.

The American real estate market was the most affected by the crisis which led Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik Ariff made the decision to quit the United States to escape the financial crisis that had reshaped the real estate market in America. He decided to relocate to Europe and Central Asia.

He continued to work in the private sector.

http://search.sunbiz.org/Inquiry/corporationsearch/SearchResults?inquiryType=EntityName&searchTerm=BAYROCK INVESTMENT CO. - COLLINS AVE. EXCHANGE, LLC Tevfik has quit today from all his Bayrock Group daily responsibilities. However, he is still an acknowledged consultant for Bayrock Group.

Bayrock Group was not involved in any American Real Estate projects recently, however, the company has invested $2.5 million in real estate assets in the United States when it was actively investing.


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