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.

Bayrock Group: New York's Real Estate Giant is Rising

Bayrock Group launched Trump SoHo along with the Trump Organization and Sapir Organization in 2008. Bayrock Group's success story begins in Kazakhstan many decades ago.

Bayrock Group was established in 2001, however the story of the success of the luxury realty development firm in the United States is much older than the year 2001. In the beginning, the story begins in another part of the world.

Tevfik who was born in Soviet Kazakhstan to a Turkish family, founded Bayrock Group.

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

Tevfik Arif He worked in the ministry for 17 years, and later went on to start his own business. Tevfik Arif owned several firms that dealt with luxury realty development, food exports, as well as imports.

Tevfik Arif has many companies which have allowed him to acquire a variety of partners around the world. The network he had built prompted him to move to Turkey in 1993. Arif was instrumental in the development of Turkey's renowned all-inclusive hotel concept.

For instance, he launched the Labada Hotel Antalya, before embarking on his next venture across the Atlantic some time later.

Bayrock Group is becoming more ambitious

Tevfik Arif emigrated to the United States in 2001 to explore new opportunities in business and be closer to his American family.

He moved to New York City just after the establishment of Bayrock Group, a luxury real estate development firm.

Bayrock Group was a small and medium-sized firm that started in New York. For instance, the firm renovated Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was off on an impressive start. Tevfik was more determined. Tevfik Arif Doyen He was looking for larger projects and made the decision to alter the strategy of the company to concentrate on this.

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

The move yielded much more than the previous site, since it landed the company in the vicinity of the Trump Organization. The world-renowned family organization namely was located in the same building.

Trump SoHo comes to life

The Trump Organization and Bayrock Group have the same goals for luxury real estate projects. Thus they have decided to join forces.

Bayrock Group had already begun work on a new project in Manhattan's SoHo neighborhood on Spring Street with the Sapir Organization.

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

Arif signed an agreement that provided the Trump Organization 18% equity in the building in exchange for the Trump brand being used as its brand name.

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

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

After two years of hard work The building was finally ready to be inaugurated.

Tevfik Arif Bayrock Trump SoHo is designed by designers who are experienced professionals

The first time it was opened, Trump SoHo consisted of hotels, apartments, luxury eateries and bars with a pool, spa, banquet and event halls. Hotel guests enjoyed unparalleled views of New York City through the glass ceilings of the hotel.

Handel Architects was tasked to design the building. The renowned architectural firm also developed the National September 11th Memorial & Museum as well as 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 has, for instance, designed the Climate Pledge Arena in Seattle, the Seven Deadly Sins Theatre in New York and the Virgin Hotel in Las Vegas.

International experiences are also available from nations like Spain, Mexico, and Indonesia.

Bayrock Group and the Trump Organization strengthen their the partnership

The Bayrock Group and Trump Organization were looking to expand their partnership following the opening of the opening of Trump SoHo.

Their dream was to construct buildings similar to Trump SoHo in Florida and Arizona. They also had the same licensing terms, leaving the Trump Organization with 18% equity in the building. It will allow Trump to be included as part of the name of the building.

Bayrock Despite the ambitions of both firms, the structures weren't built due to the 2008 global financial crisis.

The American realty market was particularly hit by the crisis. Bayrock Group, and the Trump Organization were forced to end their plans.

Tevfik Alif, one of the Tevfik Arif employee in the United States, decided to end his American ventures due to the effects of the economic crisis. He decided to return to Europe and Central Asia.

He then continued to work in the privatization sector.


Tevfik arif has resigned his majority of Bayrock Group's day-to-day tasks. Arif is still a respected consultant to the company.

Bayrock Group has not been involved in any American real estate developments in the last few months however, when it was operating the firm was investing in real estate assets that amounted to $2.5 million in the United States.



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