Notes

Bayrock Group: New York's Real Estate Giant Is Rising (Tevfik Arif)

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

Bayrock Group: New York Real Estate Giant Its Rise

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

The story about the luxury real estate development company Bayrock Group's successes in the United States begins long before the year 2001, when the company was founded. https://www.bayrock.com/ The story starts at the opposite end.

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

Before joining Soviet Ministry of Commerce and Trade Tevfik Arif received a degree in International Relations at the Moscow Trade and Economic Institute.

He was a minister for 17 year and then went on to start his own businesses. Tevfik Arif had several businesses that included high-end real estate development, food, and exports or imports.

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

In the past, for instance, he set up Antalya's Labada Hotel before embarking on his next venture across the Atlantic some years later.

Bayrock Group gets more ambitious

Tevfik Arif moved to the United States in 2001 to explore new business paths and also to be closer to the American family members.

Tevfik Arif Bayrock After moving to the United States, he started the development company for luxury real estate Bayrock Group in New York City.

Bayrock Group started with small-to medium-sized projects across New York. For example, the company renovated Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was an excellent start. It gave Tevfik arif more motivation. He was keen to take on bigger projects and decided that he would change the company strategy to concentrate more on these projects.

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

Tevfik Arif Bayrock This decision resulted in much more than just a new location because it placed the company near the Trump Organization. It was the home of the world-renowned family business.


Trump SoHo takes shape

Bayrock Group and the Trump Organization shared the vision of building luxury real estate projects, so the two companies have decided to work together.

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

Tevfik arif recognized that the Trump Organization would bring brand recognition to the building. This was something Bayrock Group, and the Sapir Organization had lacked.

Arif made an agreement in which he gave the Trump Organization 18% equity in this building in return for the Trump brand being used in its name.

Bayrock Group, the Trump Organization and the Sapir Organization all agreed to the deal.

Tevfik Arif This set the stage for the first bricks of what would become Trump SoHo to be laid in 2006.

Two years after the construction began the building was finally ready for its grand opening.

Trump SoHo is built by designers who are skilled professionals

Trump SoHo opened in Manhattan and featured hotels, apartments along with luxury bars and restaurants. There was also a swimming pool, a spa and banquet halls. https://www.bloomberg.com/profile/company/0836124D:US With the hotel's floor-to ceiling windows, guests could enjoy breathtaking views of New York City.

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

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

Rockwell Group was responsible for the design of the Climate Pledge Arena in Seattle and the Seven Deadly Sins theatre in New York.

Tevfik Arif Doyen The company also has experience dealing with countries around the world, such as Mexico, Spain, and Indonesia.

Bayrock Group expands partnership with the Trump Organization

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

The dream of the founders was to construct new buildings in Arizona or Florida similar to Trump SoHo. Tevfik Arif Doyen The same licensing terms were used, which left the Trump Organization with 18% equity. This would allow Trump to be named as part of the building's name.

https://realtybiznews.com/how-bayrock-group-conquered-new-york-city/98761810/ Despite both companies' goals, the structures were not constructed due to the 2008 global financial crisis.

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

Tevfik arif resigned from his United States enterprises after the financial crisis. He made the decision to go back to Europe or Central Asia.

He continued his job in the private sector.

Tevfik arif has resigned the majority of Bayrock Group's day-to-day responsibilities. But, he remains a respected consultant to the company.

Bayrock Group has not been involved in any American real estate ventures in recent times however, when it was in the market the company invested in real estate assets valued at $2.5 million in the United States.



Here's my website: https://www.bloomberg.com/profile/company/0836124D:US