Notes

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

Bayrock Group, the Trump Organization and the Sapir Organization inaugurated Trump SoHo 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 decades earlier.

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

Bayrock Group was founded by Tevfik Arif who was brought to the world in Soviet Kazakhstan to a family of Turkish origin.

Prior to joining the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from the Moscow Trade and Economic Institute.

After 17 years in the ministry, he decided to create his own business. Tevfik Arif owned several firms which were involved in high-end real estate development, food exports, and imports.

Tevfik Arif was able to create numerous international partnerships through his numerous businesses. It was his networker, and drove his company to Turkey in 1993, where he became one of the pioneering factors behind Turkey's all-inclusive hotel concept.

He launched, for example for instance, the Labada Hotel Antalya. This was prior to his move to his next venture, that was a couple of years later, across the Atlantic.

Bayrock Group grows more ambitious

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

http://muzeybiruch.ru/user/Tevfik-Arif-Doyenhzmp638/ Tevfik Arif Doyen Bayrock Group, a luxury development firm for real estate in New York City, was created by him shortly following he moved.

At first, Bayrock Group executed small to medium-sized projects in and around New York. Bayrock Group, as an example renovated Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group had a great beginning and Tevfik Arif was excited about the possibilities. He wanted bigger projects so he changed the strategy of the company to focus on these projects.

To help implement the new plan, Bayrock Group relocated its New York City office to the Trump Tower at Fifth Avenue.

Tevfik Arif Bayrock The move led to much more than another location. It also placed the company in close proximity to the Trump Organization. The world-renowned family business was located in the same building.

Trump SoHo gets shape

Bayrock Group & Trump Organization have a common vision for high-end real estate developments. Therefore, they came together to form a partnership.

Bayrock Group had already begun work on a second project in Manhattan's SoHo neighborhood on Spring Street with the Sapir Organization.

Tevfik Arif was aware that the inclusion of the Trump Organization to that project would bring an image to the building which Bayrock Group and the Sapir Organization lacked.

Arif created 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 the Bayrock Group, Trump Organization and the Sapir Organization.

That was the foundation for the very first bricks of Trump SoHo to be laid in 2006.

After two years of work the building was completed for its inauguration.

Design experts have led the construction of Trump SoHo

Trump SoHo included apartments, hotel room, luxury eateries, bars, lounges and a pool, as well as a restaurant, spa, and banquet halls. The guests of the hotel enjoyed unbeatable views of New York City from the floor-to-ceiling windows.

Handel Architects was tasked with the design of the building. Tevfik Arif The firm's architecture team had designed the renowned National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

Bayrock Group engaged Rockwell Group for interior design.

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

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

Bayrock Group, Trump Organization strengthen their collaboration

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

Their dream was to create structures in Arizona and Florida that looked like Trump SoHo. Trump Organization would have 18% equity in the building also under the same licensing conditions. This will permit Trump to be included in the building's name.

Despite the ambitions of both companies they were not constructed due to the 2008 global financial crisis.

Tevfik Arif The American real estate market was the most affected by the recession which caused Bayrock Group to pull out and Trump Organization to rescind their plans.

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

He worked in the private sector while he was there.

Tevfik Alif has quit his post as Bayrock Group's chief executive. Arif is still a respected consultant to the company.

Bayrock Group has not been involved in any American real-estate projects in recent years, but it did invest in real estate properties in the United States worth $2.5million when it was operating.


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