Notes

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

Trump SoHo was created by Bayrock Group, Trump Organization, and the Sapir Organization.

Tevfik Arif Doyen 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. The success of Bayrock Group began in Kazakhstan, decades before.

The Bayrock Group's growth as a prestigious real-estate development company in the United States began long before 2001. The story starts on the other side.

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

https://bayrock-smoke-shop.business.site/ Tevfik Arif earned a degree in International Relations from the Moscow Trade and Economic Institute before becoming a member of the Soviet Ministry of Commerce and Trade.

He worked in the ministry for 17 years before he quit to establish his own businesses. Tevfik Arif was involved in development of luxury real estate, food, exports and imports among others.

Tevfik's diverse businesses helped him to attract a large number of foreign partners. It was his networker, and drove him to Turkey in 1993, where he became one of the pioneering factors behind Turkey's all-inclusive hotel concept.

For instance, he inaugurated Antalya’s Labada Hotel, before he set off on his next adventure across Atlantic after a few years.

Bayrock Group gets more ambitious

Tevfik Arif moved to the United States in 2001 to pursue business opportunities that were not available and be close to his American family.

Just after moving, he established the luxury real estate development firm Bayrock Group in New York City.

At first, Bayrock Group executed small to medium-sized projects in and around New York. Bayrock Group, for example revamped Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was a solid start. It made Tevfik more ambitious. He wanted to focus on bigger projects, which is why he decided to move the company's focus to the area of.

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

The move was more successful than moving to another site since the company located itself in the vicinity of Trump Organization. It was home to the world-famous family organization.

Trump SoHo takes shape

The Trump Organization and Bayrock Group have the same goals for luxury real estate projects. Therefore, 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 on Spring Street.

Tevfik Arif was aware that the Trump Organization's involvement in this project would provide the building an identity which Bayrock Group or the Sapir Organization didn't have.

Arif wrote an agreement that grants the Trump Organization 18% equity in the building in exchange for the use of the Trump brand in its name.

The agreement was negotiated by the Bayrock Group as well as the Trump Organization (and the Sapir Organization).

This set the stage for the first bricks of what would become Trump SoHo to be laid in the year 2006.

The building was finally ready for the official opening following having been constructed over two years.

Trump SoHo construction is led by experts in design

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. It also had an indoor pool and spa. Hotel guests enjoyed breathtaking perspectives of New York City from the ceiling-to-ceiling windows.

Handel Architects was tasked as the architect. The renowned architecture firm also designed the National September 11th Memorial & Museum, New York City and the Ritz Carlton Hotel, Washington D.C.

Bayrock Group commissioned Rockwell Group as interior designers.

Rockwell Group designed, among many other structures, the Climate Pledge Arena and the Seven Deadly Sins Theater in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

In addition, the company has extensive international experience in countries such as Spain and Mexico.

Bayrock Group and Trump Organization expand their partnership

After the opening of Trump SoHo, The Trump Organization was looking to improve their partnership with the Bayrock Group.

Their vision was to design structures that were located in Arizona and Florida that looked like Trump SoHo. Also under the same licensing conditions, it would leave the Trump Organization with 18% equity in the building. https://bayrockfinancial.com/ This could open the way to Trump being part of the construction's name.

Despite the ambitions of both firms they didn't get the structures due to the 2008 global financial crisis.

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

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


Then he continued working in the privat sector.

https://thelibertarianrepublic.com/trump-soho/ Tevfik arif has resigned the majority of Bayrock Group's daily responsibilities. But, he will continue to be a trusted advisor for Bayrock Group.

Bayrock Group has not been involved with any American real estate projects in recent years, but it did invest in real property assets in the United States worth $2.5million when it was active.

Bayrock

Here's my website: https://www.linkedin.com/company/bayrock-group-llc