Notes

Bayrock Group's journey: From the Suburbs, to Manhattan Tevfik Arif

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

How Bayrock Group Went from Suburbs to Manhattan
Many dream of moving to the United States to live the American dream, but only a few people succeed. Bayrock Entrepreneur from Turkish Kazakhstan Tevfik Arik was one of the few who made it to America in 2001 to establish his business, Bayrock Group.

Bayrock Group is a New York-based luxury real estate developer.

The initial projects were small to medium in size. Tevfik Arif Bayrock This included the design and construction of Loehmann's Seaport Plaza in Brooklyn, New York.

Bayrock Group was able to get traction in the American housing market. It began to seek large-scale developments.

The Arif-driven business began working with Sapir Organization on a major construction project located on Spring Street, New York City.

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

Bayrock Group teamed up with Trump Organization
Tevfik Amir and his team were in contact with members of the Trump Organization as a result. They also used Trump Tower for their base.

Tevfik Arif The talks began between Bayrock Group & the Trump Organization, as both companies realized that they shared many similarities in their interests.


Tevfik Arif Doyen The two firms formed cooperation. The Trump Organization joined Bayrock Group's project with the Sapir Organization on Spring Street.

The Trump Organization was then managed by an ex-American president Donald Trump.

E. Trump and Son was born by his paternal grandmother Elizabeth Christ Trump and Fred Trump.

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

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

Tevfik Arif, founder of Spring Street was able to create an arrangement that would improve brand recognition as in the prestige of the project.

According to the deal proposed by the president the Trump Organization would get 18 percent ownership of the building as a reward to the Trump brand in the title of the construction.

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

Two years later, 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 had 46 stories, including elite restaurants and bars, event halls, and banquet halls. There was also an outdoor swimming pool, a spa, apartments and hotel rooms.

Visitors and residents of Trump SoHo may enjoy a breathtaking views of New York City through the roof windows that extend from the floor to the roof. They were installed on all levels.

Handel Architects was entrusted the exterior design of Trump SoHo as the three organizations behind the structure were focused solely on the highest quality.

Handel Architects has a diverse portfolio. Tevfik Arif Bayrock It is a well-respected firm. Some of the other initiatives include the National September 11 Memorial and Museum and Abu Dhabi's Rosewood hotel and residential.

Rockwell Group designed Trump SoHo’s interiors. Rockwell Group is responsible for the design of many extravagant hotels, cafes, restaurants as well as bars and theaters all over the world.

Their work includes 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 great success immediately, which prompted Bayrock Group to expand their collaboration with the Trump Organization.

Their dream was to build structures that resembled Trump SoHo in Arizona or Florida and with the same terms as those offered at Trump SoHo. The result would be that the Trump Organization with an 18 percent stake in the structure as a compensation in exchange for the Trump brand on their names. It's back again.

Bayrock Group, and Trump Organization had all they needed. But the 2008 financial crisis that ravaged America's real estate market put an end to their plans.

The American housing market experienced major changes as a result of the economic crisis. Tevfik Alif, Bayrock Group founder and CEO, decided to leave the United States. Arif made the choice to move to Europe and Asia where he began his career many decades ago.

Tevfik Arif https://www.realestaterama.com/bayrock-group-journey-from-suburbs-to-manhattan-ID053684.html Although Tevfik is no longer actively involved in Bayrock Group, the trusted adviser to different departments of Bayrock Group is still him.

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

Although it was active the firm was investing in real estate assets valued at more than $2.5 million.

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