Notes

Bayrock Group: New York Real Estate Giant: The rise and fall of Bayrock Group (Tevfik arif)

Bayrock Group, the Trump Organization and the Sapir Organization inaugurated Trump SoHo in 2008.

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

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

Bayrock Group is a luxury development company that is specialized in the field of luxury real estate. The success of Bayrock Group in the United States goes back long prior to its establishment in 2001. The story started from the other end.

Tevfik Alif was the founder of Bayrock Group. He was brought to the world from Soviet Kazakhstan to a Turkish-speaking family.

Tevfik Arif Prior to joining the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from the Moscow Trade and Economic Institute.

After being for 17 years in the ministry, he decided to leave and establish several companies. Tevfik Arif had several businesses that included the development of luxury real estate as well as food and exports or imports.


Tevfik Arif has many companies which have allowed him to acquire a variety of partners across the globe. It was his networker who brought his company to Turkey in 1993 to become one of the pioneering forces in the development of Turkey's all-inclusive hotel concept.

Tevfik Arif Doyen For instance, he set up Antalya's Labada Hotel before embarking on his next business venture over the Atlantic some years later.

Bayrock Group is becoming more ambitious

Tevfik Arif emigrated to the United States in 2001 to explore new avenues for business and also to be closer to the American part of his family.

Tevfik Arif Doyen Following his move to New York, he founded the luxurious real estate development company Bayrock Group in New York City.

In the beginning, Bayrock Group executed small to medium-sized construction projects in and around New York. For instance, the company revamped the Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group had a great start , and Tevfik was thrilled about the potential. He wanted bigger projects and changed the strategy of the business to be more focused.

To help implement the new plan, Bayrock Group relocated its New York City office to the Trump Tower at Fifth Avenue.

It was a move that resulted in a higher profit than any other place. The company was located within close proximity to the Trump Organization. This was the place of the family's world-renowned business.

Trump SoHo comes to life

Bayrock Group and Trump Organization had the same vision of luxurious real estate projects. The two firms decided that they would join forces.

Bayrock Group was already working with the Sapir Organization on another undertaking in Manhattan's SoHo Quarter, which is located on Spring Street.

Tevfik Alif was aware that adding the Trump Organization to the project will bring brand recognition to the building which Bayrock Group lacked and that the Sapir Organization was lacking.

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

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

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

Two years after the construction began the building was finally ready to be inaugurated.

Design professionals lead the construction of SoHo Trump SoHo

When it opened, Trump SoHo consisted of hotels, apartments, luxury eateries and bars, a pool, a banquet hall, spa and event spaces. Through the hotel's floor to ceiling windows, guests were able to enjoy breathtaking views of New York City.

https://www.pinterest.com/pin/359725088988546308/ Handel Architects was tasked by the design of the construction. The famous architect firm has also developed the National September 11th Memorial & Museum and the Ritz the Carlton Hotel in Washington, D.C.

Bayrock Group hired Rockwell Group, to handle interior design.

Rockwell Group, for example is the architect behind for instance, the Climate Pledge Arena as well as the Seven Deadly Sins Theatre in New York, and Virgin Hotel in Las Vegas.

Furthermore, the firm has extensive experience abroad in countries like Spain and Mexico.

Bayrock Group, Trump Organization expand their partnership

After the launch of Trump SoHo, the Trump Organization and Bayrock Group wanted to increase their collaboration.

Their goal was to build buildings that were located in Arizona and Florida that looked like Trump SoHo. Trump Organization also received 18% equity in building under the same licensing terms. This would allow Trump to be included in the construction's name.

Despite the ambitions of both companies however, the structures weren't built because of the global financial crisis of 2008.

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

Tevfik Ariff made the choice to leave the United States to escape the financial crisis that changed America's real estate market. He made the decision to go back to Europe or Central Asia.

Bayrock He then continued to work in the privat sector.

Tevfik Alif has resigned his position as the Bayrock Group's chief executive officer. He is however an expert consultant for Bayrock Group.

Bayrock Group was not involved in any American Real Estate developments in the past, but the firm made an investment of $2.5 million in real estate properties in the United States when it was actively investing.



Website: https://www.talech.com/biz/ordering/108308/BAYROCK-SMOKE-SHOP-LLC-LIVONIA-MI