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

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

Bayrock Group: New York Real Estate Giant Its Rise

Bayrock Group opened Trump SoHo together with the Trump Organization in 2008 and the Sapir Organization. The Bayrock Group's story of success began in Kazakhstan some time ago.

The Bayrock Group's growth as a prestigious real-estate development firm in the United States began long before 2001. The story begins at the opposite end.

Tevfik Ariff, a Turk-born native of Soviet Kazakhstan, founded Bayrock Group.

Tevfik Arif Doyen Before joining the Soviet Ministry of Commerce and Trade in the Soviet Union, Tevfik earned a degree at the Moscow Trade and Economic Institute.

After serving in the ministry for 17-years, he decided to leave and set up a number of businesses. Tevfik Arif Doyen Tevfik Arif's companies included luxury real estate development exports, food and imports, among other things.

Tevfik Arif, through his various businesses, was able to acquire a wide variety of foreign partners. His network brought him to Turkey in 1993. He was one of the leading people behind Turkey's famed all-inclusive hotels.

He opened, for example the Labada Hotel Antalya. This was prior to his move to his next venture which took place a few years later, across the Atlantic.

Bayrock Group gets more ambitious

Tevfik arif emigrated to the United States from Pakistan in 2001 to investigate new avenues for business and to be closer to his American family.

Following his move, he established the luxury real estate development firm Bayrock Group in New York City.

Bayrock Group started out with small to medium-sized jobs located in New York. For instance, the company revamped the Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was a solid beginning. It made Tevfik more driven. He was eager for larger projects and decided that he would change the company strategy to concentrate more on these projects.

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

The move ended up yielding substantially more than another location, as it got the business located in the vicinity of the Trump Organization. This was the home of the family's world-renowned organization.

Trump SoHo finally takes shape

Bayrock Group was inspired by the Trump Organization's vision to create luxurious real estate properties and so they decided to work together.

http://smartbabel.co.uk/user/profile/624263 Bayrock Group was already working on a different project on Spring Street in Manhattan's SoHo quarter in collaboration with the Sapir Organization.

Tevfik Arif knew that the incorporation of the Trump Organization to that project would bring brand recognition to the building which Bayrock Group and the Sapir Organization did not have.

Arif wrote an agreement that gives the Trump Organization 18% equity and the right to use the Trump name in exchange.

The proposed deal was accepted by the Bayrock Group, Trump Organization and the Sapir Organization.

This was the opening to the first Trump SoHo brick to be laid in the year 2006.

The building was finally ready for the official opening following it was constructed over the course of two years.

Trump SoHo is designed by designers who are seasoned professionals

Trump SoHo had apartments, accommodation for hotel guests, luxury restaurants/bars, a swimming pool and banquet halls at the time it was opened. https://maestromusic.fr/forums/user/tevfik-arif-bayrockvsim850/ The windows that ran from floor to ceiling offered guests a stunning view of New York City.

Handel Architects was tasked as the architect. The famed architectural firm also developed the National September 11th Memorial & Museum as well as the Ritz Carlton Hotel located in Washington, D.C.

Bayrock Group engaged Rockwell Group for interior design.

Tevfik Arif Bayrock Rockwell Group designed, among many other structures, the Climate Pledge Arena and Seven Deadly Sins Theater in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

The company has also international experience which includes Mexico, Spain, Indonesia, and Mexico.

Bayrock Group and Trump Organization strengthen their relationship

Following the opening in Trump SoHo, The Trump Organization sought to strengthen their partnership with Bayrock Group.

Their vision was to construct structures similar to Trump SoHo in Arizona and Florida. Trump Organization would have 18 percent equity in the building, as well as the same licensing conditions. This opens the door to Trump being part of the construction's name.

Despite the plans and ambitions of the companies, the structures could not be constructed due to the 2008 global economic crisis.

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

The financial crisis ended up altering the American real estate market to such an degree that Tevfik Arif decided to leave his United States undertakings. He decided to go back to Europe, Central Asia.

He continued his work in the private sector.

Tevfik Arif has quit most of his day-to-day duties at Bayrock Group today. He will however continue to be a trusted advisor for Bayrock Group.

Bayrock Group was not involved in any American Real Estate ventures recently, however, Bayrock Group made an investment of $2.5 million in real estate properties in the United States when it was actively investing.


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