Notes

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

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

Tevfik Arif Doyen Bayrock Group, The Rise of New York Real Estate Giant

Bayrock Group launched Trump SoHo with both the Trump Organization and Sapir Organization in 2008. https://sportour.club/index.php?page=user&action=pub_profile&id=328152 However, the story of Bayrock Group's success starts in Kazakhstan decades before.

Bayrock Group is a luxury development company that specializes in the field of luxury real estate. The story of Bayrock Group's success here in the United States goes back long prior to its establishment in 2001. The story began from the other side of the world.

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

Prior to becoming a member of the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned an education from the Moscow Trade and Economic Institute in International Relations.

He was a minister for 17 year and then quit to establish his own company. Tevfik Arif Bayrock Tevfik Arif's companies were in the fields of development of luxury real estate exports, food and imports, among other things.

Because of his many businesses, Tevfik Arif acquired a wide array of worldwide partners. His network led him to Turkey in 1993. He was among the key leaders behind Turkey's famous all-inclusive hotels.

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

Bayrock Bayrock Group grows more ambitious

Tevfik Alif relocated to the United States to seek new business opportunitiesand be nearer to his American family in 2001.

He relocated 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. For instance, the firm renovated Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was a solid start. This made Tevfik even more driven. He wanted to focus on larger projects, and therefore it was his decision to change the focus of the company on this.

Bayrock Group's New York City offices were relocated to Trump Tower, Fifth Avenue to accommodate the new strategy change.

The move resulted in many more things than an additional location. It also placed the company within close proximity of the Trump Organization. This was the place of the family's world-renowned business.

Bayrock Trump SoHo comes to life

The Trump Organization and Bayrock Group shared the same vision of luxurious real estate developments. Therefore, the two companies have decided to join forces.

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

Tevfik Alif knew that bringing the Trump Organization to the project could help to increase brand recognition for the building that Bayrock Group lacked and that the Sapir Organization was lacking.

Arif wrote an agreement that provided the Trump Organization 18% equity in the building in exchange for the Trump brand being used in its name.

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

It was the base for the very first bricks of Trump SoHo to be laid in the year 2006.

Tevfik Arif Bayrock The building was completed following two years of laborious work.

Design professionals lead the construction of SoHo Trump SoHo

Trump SoHo included apartments, the hotel's restaurant, luxurious eateries, bars, lounges with a pool and banquet hall, spa, and banquet rooms. The guests of the hotel enjoyed unbeatable views of New York City from the floor-to-ceiling windows.

Handel Architects were tasked with the design. Bayrock The firm's architect was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel in Washington, D.C.

Bayrock Group employed Rockwell Group to manage the interior design of the building.

Rockwell Group, for example has designed for instance, the Climate Pledge Arena, Seven Deadly Sins Theater in New York, and Virgin Hotel in Las Vegas.

The company also has experience working with foreign countries, including Mexico, Spain, and Indonesia.

Bayrock Group expands partnership with the Trump Organization

After the opening of Trump SoHo, the Trump Organization as well as the Bayrock Group wanted to increase their collaboration.

Their goal was to build structures that were located in Arizona and Florida that looked like Trump SoHo. The same licensing terms were employed, which left the Trump Organization with 18% equity. It will allow Trump to be included in the building's name.

Despite the hopes and plans of the businesses however, the structures couldn't be constructed because of the global economic crisis of 2008.

The American real estate market was especially hard hit by the crisis. Bayrock Group was forced to abandon plans as well as Trump Organization was forced to pull out of their plans.

Tevfik Alif, one of the Tevfik Arif employee in the United States, decided to leave his American ventures because of the impact of the economic crisis. He chose to return to Europe, Central Asia.

He continued his job in the private sector.

Today, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. Tevfik Arif Doyen But, he remains an advisor Bayrock Group.

Bayrock Group has not been involved in any American real estate projects lately However, during the time it was operating the company invested in real estate assets that amounted to $2.5 million in the United States.


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