Notes

Bayrock Group - The Rise of an New York Real Estate Giant (Tevfik Arif)

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

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

Bayrock Group launched Trump SoHo with both the Trump Organization and Sapir Organization in 2008. Tevfik Arif Doyen Bayrock Group was founded in Kazakhstan in 1980.

The Bayrock Group's growth as a luxury real estate development company in the United States began long before 2001. Initially, the story begins from the other side of the world.

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

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

He served in the ministry for 17 years, and later went on to start his own business. Tevfik Arif was involved in luxury real estate development foods, exports, food and imports, among other things.

Tevfik Arif's many businesses enabled him to draw a huge variety of international partners. His connections brought him to Turkey in 1993. He was one of the most prominent figures behind Turkey's famous all-inclusive hotels.

He also opened, for instance, the Labada Hotel Antalya. This was before he went on to the next project which was several years later across the Atlantic.

Bayrock Group grows more ambitious

Tevfik Alif relocated to the United States to seek new opportunities in business, and also to be nearer to his American family members in 2001.

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

Bayrock Group began with small- to medium-sized projects around New York. Bayrock Group has redesigned the Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off on an excellent start. This made Tevfik even more determined. He was keen to take on bigger projects and decided to alter the strategy of the company to be more focused on these projects.

Bayrock Group moved its New York City office to Trump Tower on Fifth Avenue to accommodate the new strategy.

Tevfik Arif The move resulted in many more things than an additional site. It also put the business within the vicinity of the Trump Organization. The building also served as home to the internationally recognized family business.

Trump SoHo comes to life

Bayrock Group and Trump Organization have the same goals for luxury real-estate projects. The two companies decided to collaborate.

Bayrock Group was already working on another undertaking on Spring Street in Manhattan's SoHo quarter, in conjunction with the Sapir Organization.

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


Arif created an agreement which allowed the Trump Organization to own 18% of the building, in exchange for the Trump logo being used.

Tevfik Arif Bayrock The deal was ratified by Bayrock Group (the Trump Organization) and the Sapir Organization (the Sapir Organization).

That paved the way for the first brick of what would later become Trump SoHo to be laid in 2006.

Two years of construction later, the building was ready to be inaugurated.

Tevfik Arif Bayrock Trump SoHo is built by designers who are seasoned professionals

Trump SoHo opened in Manhattan and included hotels, apartments along with luxury bars and restaurants. There was also an outdoor pool, a spa and banquet halls. The building's floor-to ceiling windows afforded guests unparalleled views of New York City.

Handel Architects was tasked as the architect. The firm's architecture team had created the world-renowned National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

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

Rockwell Group is responsible for designing, among other things among other things, the Climate Pledge Arena (Seattle), the Seven Deadly Sins Playhouse in New York, as well as the Virgin Hotel in Las Vegas.

Furthermore, the firm has extensive experience abroad in countries like Spain as well as Mexico.

Bayrock Group and the Trump Organization expand the partnership

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

Their dream was building structures in Arizona or Florida similar to Trump SoHo. Trump Organization was also granted the same licensing terms and was left with 18% equity in the construction. This would permit Trump to be named as part of the name of the building.

Bayrock Despite their lofty goals however, these structures weren't created in the wake of the 2008 global financial crisis.

The crisis especially hit the American real estate market, and consequently, forced Bayrock Group and the Trump Organization to rethink their plans.

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

In the meantime, he worked in the private sector.

This morning, Tevfik Aif has resigned from the majority of his Bayrock Group responsibilities. Tevfik Arif But, he remains an expert advisor to Bayrock Group.

Bayrock Group is not currently involved in American real estate projects. In the past in the past, when the company was active it was investing in real estate assets that were valued at $2.5 million in the United States.



Website: https://m.imdb.com/name/nm10842495/mediaviewer/rm2948766977