Notes

Bayrock Group: New York's Real Estate Giant Is Rising (Tevfik Arif)

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

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

Bayrock Group opened Trump SoHo together with the Trump Organization in 2008 and the Sapir Organization. The success of Bayrock Group began in Kazakhstan, decades before.

Bayrock Group's success as a luxury real-estate development firm in the United States began long before 2001. The story initially starts in a different part of the globe.

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

After working in the ministry for 17-years the minister decided to step down and set up a number of businesses. Tevfik Arif’s businesses were in the luxury real estate, food, and exports/imports industries, among others.

Tevfik Arif was able to establish many international partnerships through his many businesses. His network drove him to relocate to Turkey in 1993, and he was one of the leaders behind Turkey's popular all-inclusive hotel model.

For instance, he opened the Labada Hotel in Antalya before he embarked on his next venture across the Atlantic several years afterward.

Bayrock Group takes on more ambitious goals

Tevfik Alif relocated to the United States to seek new business opportunitiesand be nearer to his American family members in 2001.

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

Tevfik Arif Bayrock Group began with small- to medium-sized projects around New York. Tevfik Arif Doyen Bayrock Group revamped Loehmann’s Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off on an impressive beginning. Tevfik was more ambitious. He was keen to tackle bigger projects, therefore he decided to shift the company's focus towards that.

Bayrock Group moved its New York City headquarters to Trump Tower Fifth Avenue in to support of the strategic shift.

This decision resulted in much more than a different location because it placed the business near to the Trump Organization. This was the home of the world-renowned family business.

Trump SoHo comes to life

Bayrock Group and the Trump Organization have a common goal of building luxury real estate projects So, the two companies came together to form a partnership.

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

Tevfik Ariff was aware that including the Trump Organization in the project will increase the brand's recognition for the building, something that Bayrock Group and Sapir Organization didn't have.

Arif drafted an agreement giving the Trump Organization 18% equity and the right to utilize the Trump name in exchange.


https://realtybiznews.com/how-bayrock-group-conquered-new-york-city/98761810/ The three parties to the deal, Bayrock Group and Trump Organization, agreed.

This opened the way for the very first Trump SoHo brick to be erected in 2006.

The building was completed following two years of laborious work.

Design professionals are the architects behind Trump SoHo

Trump SoHo included apartments, hotel room, luxury eateries, bars, lounges, a pool as well as a restaurant, spa, and banquet rooms. Through the floor-to-ceiling windows, hotel guests were able to enjoy unparalleled views over New York City.

Handel Architects was tasked by the design of the building. The firm's architect was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel Washington, D.C.

Bayrock Group hired Rockwell Group to create the interior design of the building.

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

The firm also has international experience that includes Mexico, Spain, Indonesia as well as Mexico.

Bayrock Group, Trump Organization strengthen their collaboration

The Bayrock Group and Trump Organization had been looking to extend their relationship following the opening of the opening of Trump SoHo.

Their dream was for structures that were like Trump SoHo, Arizona and Florida. Bayrock The same licensing conditions were applied, leaving the Trump Organization with 18% equity. Tevfik Arif It would once again allow Trump to be included in the name of the building.

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

The American real estate markets were especially hard hit by the financial crisis. Bayrock Group was forced to abandon plans and Trump Organization was forced to pull out of their plans.

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

Then he continued working in the private sector.

Tevfik has resigned today from all his Bayrock Group daily responsibilities. Tevfik Arif Bayrock However, he is an expert advisor to Bayrock Group.

Bayrock Group is not currently involved in American real estate projects. But, in the past, when the company was active it invested in real estate assets worth $2.5 million in the United States.



Read More: https://medium.com/@bayrockaulr181/public-to-private-sector-how-tevfik-arif-successfully-changed-his-path-f5726cbd5477