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

Trump SoHo was launched in 2008 by Bayrock Group and the Trump Organization.

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

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008, along with the Sapir Organization. Bayrock Group was founded in Kazakhstan in 1980.

The story of the luxurious real estate development company Bayrock Group's growth in the United States begins long before the company's establishment in 2001. Tevfik Arif Bayrock Initially, the story begins on the other side the world.

Tevfik Alif was the founder of Bayrock Group. He was born in Soviet Kazakhstan to a Turkish-speaking family.

Before joining the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned an education from the Moscow Trade and Economic Institute in International Relations.

After 17 years with the ministry, he resigned to establish his own company. Tevfik Arif's firms were in the sectors of development of luxury real estate, food and exports and imports, in addition to.

Tevfik Arif has many companies which have allowed him to gain a wide range of partners across the globe. Tevfik Arif Doyen He was a networker who drove him to Turkey in 1993 and became one of the first to be in the development of Turkey's all-inclusive hotel concept.

For example, he opened Antalya’s Labada Hotel, before he embarked on his next venture across Atlantic after several years.

Bayrock Group takes on more ambitious goals

Tevfik Alif emigrated to the United States to seek new business opportunities, and to be closer to his American family in 2001.

Bayrock Group was established in New York City shortly after he had moved.

Bayrock Group started out with small - to medium-sized projects located in New York. Bayrock Group, for instance revamped Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Group was a solid start. It made Tevfik more ambitious. He was looking for bigger projects and changed the strategy of the business to make it more focused.

Bayrock Group moved its New York City offices to the Trump Tower on Fifth Avenue to coincide with the change in strategy.

The move brought about many more things than another site. It also placed the business within the vicinity of the Trump Organization. Tevfik Arif Doyen The world-renowned family organization namely was housed in the same structure.


Trump SoHo comes to life

Bayrock Group and the Trump Organization shared the vision of building luxury real estate projects, so the two companies have decided to work together.

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 incorporation of the Trump Organization to that project would bring brand recognition to the building, something that Bayrock Group and the Sapir Organization did not have.

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

The deal was agreed upon by Bayrock Group as well as the Trump Organization (and the Sapir Organization).

The doors opened to Trump SoHo, which would be the first building to be completed in 2006.

After two years of work the building was completed for the opening.

Trump SoHo is built by designers who are experienced professionals

At the time of its opening, Trump SoHo consisted of hotels, apartments as well as luxury bars and restaurants as well as a pool, spa, banquet, and event spaces. From the building's floor–to-ceiling windows hotel guests were able to take in breathtaking views of New York City.

Tevfik Arif Bayrock Handel Architects were tasked with the design. The architect firm had previously created the famed National September 11th Memorial & Museum (New York City) as well as the Ritz Carlton Washington Hotel (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 located in New York, as well as the Virgin Hotel in Las Vegas.

International experience is also accessible from nations like Spain, Mexico, and Indonesia.

Bayrock Group, Trump Organization extend their collaboration

The Bayrock Group and Trump Organization had been looking to extend their collaboration in the wake of the opening of Trump SoHo.

Their dream was building new buildings in Arizona or Florida like Trump SoHo. Trump Organization would have 18 percent equity in the building also under the same licensing conditions. This could again open the way to "Trump" to be an element of the construction's name.

Despite the plans and ambitions of the firms they could not be built due the 2008 global economic downturn.

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

Tevfik Anif decided to leave his American companies due to the economic crisis. He decided to return to Europe, Central Asia.

He then continued to work in the private sector.

Today, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. https://www.hngn.com/articles/241711/20220419/revealed-how-tevfik-arif-and-trump-got-acquainted.htm However, he is an advisor Bayrock Group.

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



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