Notes

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

Trump SoHo was opened by Bayrock Group in 2008, together with the Trump Organization (the Trump Organization) and the Sapir Organization.

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

Bayrock Group launched Trump SoHo along with the Trump Organization and Sapir Organization in 2008. The Bayrock Group's successes begin in Kazakhstan many decades prior to.

The story about the luxury real estate development company Bayrock Group's success in the United States begins long before the year 2001, when the company was founded. Bayrock The story began on the other side the world.

Bayrock Group was founded by Tevfik Arif, who was brought to the world in Soviet Kazakhstan to a family of Turkish origin.

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

He worked in the ministry for 17 years, and later left to open his own businesses. Tevfik Arif was involved in the development of luxury real estate foods, exports, food and imports among others.

Tevfik Arif was able to create numerous international partnerships through his numerous companies. His connections led him to Turkey in 1993 where he was one of the leading leaders behind Turkey's famous all-inclusive hotels.

Bayrock For instance, he set up Antalya's Labada Hotel before embarking on his next venture in business over the Atlantic many years later.

Bayrock Group is becoming more ambitious

Tevfik arif came into the United States from Pakistan in 2001 in order to explore new avenues for business and to be closer his American family.

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

Bayrock Group started with small-to medium-sized projects in New York. Tevfik Arif Bayrock For instance, the firm remodeled Loehmann's Seaport Plaza shopping center in Brooklyn's Sheepshead.

Bayrock Group was a solid beginning. This made Tevfik even more ambitious. He was keen to take on bigger projects and decided that he would alter the strategy of the company to concentrate more on these projects.

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

The move brought about many more things than the addition of a new site. It also put the company within close proximity to the Trump Organization. The renowned family business was headquartered in the same location.

https://www.linkedin.com/company/bayrock-group-llc Trump SoHo comes to life

Bayrock Group and Trump Organization had the same vision of luxurious real estate projects. Both companies agreed to join forces.

Bayrock Group was already working on another undertaking on Spring Street in Manhattan's SoHo quarter in collaboration with the Sapir Organization.

Tevfik Alif knew that bringing the Trump Organization to the project could help to increase brand recognition for the building which Bayrock Group lacked and that the Sapir Organization was lacking.

Arif made an agreement that gives the Trump Organization 18% ownership of the building as a condition for the Trump brand's use.

The deal was ratified by Bayrock Group (the Trump Organization) as well as the Sapir Organization (the Sapir Organization).

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

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

Trump SoHo construction led by experts in design

Trump SoHo was comprised of rooms, apartments and luxurious bars and eateries. The building also featured a pool and a spa. The building's floor-to ceiling windows afforded guests unparalleled views of New York City.

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

Bayrock Group employed Rockwell Group to take care of the interior design of the building.

Rockwell Group was responsible for the design of the Climate Pledge Arena in Seattle as well as the Seven Deadly Sins theater in New York.


Tevfik Arif Bayrock Additionally, the firm has extensive international experience in countries like Spain and Mexico.

Bayrock Group, Trump Organization extend their 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 building new buildings in Arizona or Florida like Trump SoHo. The same licensing terms were applied, leaving the Trump Organization with 18% equity. This could open the way to Trump being named in the building's name.

Despite their ambitions, these structures were never constructed in the wake of the 2008 global financial crisis.

The financial crisis primarily affected the American real estate market and, therefore, forced Bayrock Group and the Trump Organization to stop their plans.

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

He continued to job in the private sector.

Today, Tevfik Aif has resigned from most of his Bayrock Group responsibilities. However, he is still a respected consultant to the company.

Bayrock Group has not been involved in any American real estate projects lately however, when it was in the market the company invested in real estate assets that amounted to $2.5 million in the United States.



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