Notes

Bayrock Group: The Rise of a New York Real Estate Giant (Tevfik Arif)

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

Bayrock Group: The Rise of a New York Real Estate Giant

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). Bayrock Group was founded in Kazakhstan in 1980.

The story of the luxury real estate development firm Bayrock Group's success in the United States begins long before the year 2001, when the company was founded. The story began from the other side of the world.

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

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

He was in the ministry for 17 years and left to create a number of his own companies. Tevfik Arif's firms were in the fields of development of luxury real estate as well as food exports and imports, among other things.

Tevfik Arif has many companies which have enabled him to achieve a range of partners from all over the world. He was a networker, and drove his company to Turkey in 1993, where he became one of the pioneering factors in the development of Turkey's all-inclusive hotel concept.

He also opened, for instance for instance, the Labada Hotel Antalya. This was prior to his move to the next project, that was a couple of years later, across the Atlantic.

Bayrock Group gets more ambitious

Tevfik Amir came into America in 2001 to find new business opportunities and to be closer with his American family.

Bayrock Group was established in New York City shortly after his move to New York.

In the beginning, Bayrock Group executed small to medium-sized projects within and around New York. For instance, the firm renovated Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was an excellent beginning. It helped Tevfik arif gain more ambition. He was looking forward to bigger projects and decided to alter the strategy of the company to focus more on these projects.

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

The move brought about many more things than another place. It also placed the company in close proximity to the Trump Organization. https://www.f6s.com/tevfikarifbayrock1 It was home to the family's world-renowned business.


Trump SoHo gets shape

Bayrock Group and Trump Organization had the same vision of luxury real-estate projects. The two companies decided to collaborate.

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

Arif came up with an agreement that gave the Trump Organization 18% ownership of the building as a condition to the Trump brand's use.

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

The doors opened to Trump SoHo, which would be the first brick laid in 2006.

The building was finished after two years of hard work.

Trump SoHo was built by design experts

Trump SoHo opened in Manhattan and offered the hotel rooms, apartments and upscale restaurants and bars. The building also had a swimming pool, spa, and banquet halls. From the building's floor–to-ceiling windows, hotel guests were able to take in breathtaking views of New York City.

Handel Architects were tasked with the design. 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.

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

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

International experience is also available from nations like Spain, Mexico, and Indonesia.

Bayrock Group and Trump Organization extend their partnership

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

Their goal was to build buildings that were similar to Trump SoHo, Arizona and Florida. The same licensing terms, leaving the Trump Organization with 18% equity in the building. This opens the door to Trump being included in the construction’s name.

https://www.gettyimages.com/photos/tevfik-arif Despite the ambitions of both companies however, the structures weren't built because of the 2008 global financial crisis.

Tevfik Arif The American real-estate market was especially affected by the crisis, which caused Bayrock Group to pull out and Trump Organization to rescind their plans.

Tevfik arif quit his United States enterprises after the financial crisis. He decided to go back to Europe and Central Asia.

Tevfik Arif Doyen He continued to work in the private sector.

Tevfik arif has resigned his major part of Bayrock Group's everyday responsibilities. He is still a trusted consultant to the business.

Bayrock Group hasn't been involved in any American real estate developments in the last few months. However, the firm has invested $2.5 million in real estate properties when it was active in the United States.



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