Notes

Bayrock Group: New York Real Estate Giant: The Rise and Fall of Bayrock Group (Tevfik arif)

Trump SoHo was launched in 2008 by Bayrock Group and the Trump Organization.

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

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008, along with the Sapir Organization. The story of Bayrock Group's success begins in Kazakhstan some time ago.

The story about the luxury real estate development company Bayrock Group's successes in the United States begins long before the company's establishment in 2001. The story began from the other end.

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

Tevfik Arif graduated with an undergraduate degree in International Relations at the Moscow Trade and Economic Institute before joining the Soviet Ministry of Commerce and Trade.

He was a minister for 17 years before he left to open his own business. Tevfik Arif was involved in development of luxury real estate foods, exports, food and imports among others.

Tevfik Arif was able to create numerous international partnerships through his various companies. The network he had built prompted him to relocate to Turkey in 1993. He was instrumental in the development of Turkey's famous allinclusive hotel concept.

For example, he opened the Labada Hotel Antalya, before moving on to his next venture across the Atlantic some time later.

http://alsultan7.com/index.php?qa=user&qa_1=tevfik-arifobjo778 Bayrock Group is becoming more ambitious

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

Just after moving, he established the company for the development of luxury real estate called Bayrock Group in New York City.

Bayrock Bayrock Group began with smallto medium-sized projects throughout New York. Bayrock Group, for example renovated Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was off to great start and it led to Tevfik Arif becoming more determined. He wanted to work on larger projects, and which is why he decided to move the company's focus towards the area of.

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

The move resulted in a higher profit than any other site. The company moved in close proximity to the Trump Organization. The world-renowned family business was housed in the same structure.

Trump SoHo gets shape

The Trump Organization and Bayrock Group had the same vision for high-end real estate projects. So, the two companies have decided to join forces.

Bayrock Group was already working with the Sapir Organization on another undertaking in Manhattan's SoHo Quarter, which is located on Spring Street.

Tevfik Arif knew the Trump Organization's participation in this project could give the building a brand image that Bayrock Group or the Sapir Organization didn't have.

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

The deal was agreed upon by the Bayrock Group as well as the Trump Organization (and the Sapir Organization).

This opened the way for the very first Trump SoHo brick to be laid in 2006.

http://zalicz.net/index.php?qa=user&qa_1=bayrockxttv096 Two years after the construction began the building was completed to open.

Trump SoHo was built by design veterans

Trump SoHo included apartments, hotel room, luxury eateries bars, lounges, a pool and a banquet hall, spa and banquet rooms. Through the floor-to-ceiling windows, hotel guests were able to admire breathtaking views of New York City.

Tevfik Arif Handel Architects was tasked by the design of the construction. The architect firm had previously created the famed National September 11th Memorial & Museum (New York City) and the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group hired Rockwell Group to create the interior design of the building.

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

The company also has international experience , originating from countries like Indonesia, Mexico and Spain.

Bayrock Group and Trump Organization expand their partnership

The Trump Organization and the Bayrock Group were looking to broaden their partnership after the launch of Trump SoHo.

Their dream was to create buildings in Arizona and Florida that looked like Trump SoHo. Bayrock Trump Organization was also granted the same license conditions and left with 18% equity in this building. This will permit Trump to be included in the building's name.

Despite the hopes and plans of the companies they could not be built due the 2008 global economic crisis.

The American real estate markets were particularly hard hit by the financial crisis. Bayrock Group was forced to abandon its plans, as well as Trump Organization was forced to cancel their plans.

The financial crisis ended up changing the American real property market to the degree that Tevfik Arif decided to quit his United States undertakings. He opted to return to Europe and Central Asia.

He then continued to work in the private sector.

Tevfik Alif has resigned as the Bayrock Group's chief executive. He is still a trusted consultant to the business.

Bayrock Group is not currently involved in American real estate ventures. Tevfik Arif Bayrock In the past, while the company was in operation it was investing in real estate assets valued at $2.5 million in the United States.


Website: http://answerpail.com/index.php?qa=user&qa_1=tevfik-ariftzuv537