Notes

Bayrock Group: From the Suburbs and Manhattan Tevfik Arif

The Tevfik Arif-driven luxury real estate development company, Bayrock Group, quickly after its creation, found itself cooperating with the Trump Organization in Manhattan.

Bayrock Group Moves: From Suburbs and to Manhattan
Many people dream of going to America to experience the American dream. But, only a few people actually do. Tevfik Arif Turkish-Kazakhstani businessman Tevfik Arif was one of them when he moved to America in 2001. He set out to created his company, Bayrock Group.

The Bayrock Group operates in New York City as a luxury real property development firm.

The firm was initially focused on small- to medium-sized projects like the redevelopment of Loehmann’s Seaport Plaza, a shopping center in Brooklyn's Sheepshead.

After seeing its name gain traction in the American housing market, Bayrock Group was ready to expand its operations and began looking for projects with a large scope.

The Arif-led organization started working in conjunction with Sapir Organization in a new massive construction project located on Spring Street in New York City.

The company's growth also led Bayrock Group to relocate its headquarters to the Trump Tower in Midtown Manhattan.

Bayrock Group team up with the Trump Organization
In the wake of the move Tevfik Arif and his staff were able to meet with the Trump Organization that also had the Trump Tower as its base.

Discussions took place between Bayrock Group, the Trump Organization following the two firms realized that they had similar desires and shared goals.

Both companies entered into a collaboration that saw the Trump Organization joined Bayrock Group in its project together with the Sapir Organization at Spring Street.

At the time the Trump Organization was managed by former American President Donald Trump.

In 1927 the paternal grandmother of his son Elizabeth Christ Trump and his father Fred Trump established the organization as E. Tevfik Arif Bayrock Trump and Son.

Donald Trump transferred the management to his children in the year 2017 just as he was about to enter the White House.

Bayrock Group's lucrative deal
Bayrock Group, The Trump Organization The Trump Organization, as well as The Sapir Organization were still relatively new to the New York City real estate scene at the time of the collaboration.

Bayrock Tevfik arif was the founder of Spring Street. He designed an arrangement that gives Spring Street more brand recognition.

According to the deal proposed by the president, the Trump Organization would get 18% ownership of the building in return to the Trump brand in the title of the construction.

Each of the three companies agreed to the arrangement and the very first block of Trump SoHo was laid in the year 2006.

Two years after, Bayrock Group, the Trump Organization and the Sapir Organization inaugurated their contribution to the city's skyline, Trump SoHo.

Design experts take over of Trump SoHo
Trump SoHo featured 46 stories which included bars and restaurants that were of elite status and banquet halls as well as banquet halls and event spaces. Additionally, there was an outdoor pool and spa and apartments and hotel rooms.


https://www.realestaterama.com/bayrock-group-journey-from-suburbs-to-manhattan-ID053684.html Residents and visitors to Trump SoHo can enjoy a breathtaking view of New York City from the windows from floor-to-roof on every floor.

Handel Architects was entrusted by Trump SoHo to design the exterior, while the three buildings were focused on perfection.

Handel Architects are a respected organization with a broad portfolio. Other projects include the National September 11 Memorial and Museum in New York City and Rosewood Hotel Residence in Abu Dhabi are just a couple.

Rockwell Group designed Trump SoHo’s interiors. Rockwell Group has designed many extravagant hotels, cafes bars theaters, as well as other venues across the globe over the years.

Their works include their work at the Tower Hotel and Taj Mahal Palace, Mumbai, India and the 93rd Academy Award show.

Bayrock Group & the Trump Organization expand the partnership
Trump SoHo was a huge success, and Bayrock Group and Trump Organization began to consider ways to expand their collaboration.

Their goal was to build structures similar to Trump SoHo in Arizona and Florida in the same manner like the one of Trump SoHo. In return, Trump Organization would get 18 percent equity. Tevfik Arif Bayrock This time.

Bayrock Group and the Trump Organization had everything ready. But the 2008 financial meltdown that shook the American real estate market put an end to their plans.

The economic crisis affected the American housing market quite extensively. Tevfik, Bayrock Group founder was the one who decided to close his US-based business ventures. Arif made the choice that he would move to Europe or Asia, where his career began decades before.

Bayrock Group has ceased to be in operation, however Tevfik Ariff continues to be advisor to different divisions.

Bayrock Group is not involved in any real estate projects in the United States.

But, it was operating and investing in real estate properties of over $2.5 million.

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