Notes

Bayrock Group, The Rise of New York Real Estate Giants (Tevfik Arif)

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

Bayrock Group: New York's Real Estate Giant is Growing

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). But the story of Bayrock Group's growth begins in Kazakhstan several decades prior to that.

The Bayrock Group's growth as a prestigious real-estate development company in the United States began long before 2001. In the beginning, the story begins in another part of the globe.

Tevfik Arif Tevfik Ariff, a Turk-born immigrant to Soviet Kazakhstan, founded Bayrock Group.

Prior to joining the Soviet Ministry of Commerce and Trade Tevfik Arif graduated with an academic degree in International Relations at the Moscow Trade and Economic Institute.

After 17 years with the ministry, he left to create his own business. Bayrock Tevfik Arif was involved in luxury real estate development, food, exports and imports, among other things.

Tevfik Arif, through his many companies, was able to obtain a range of international partners. His connections prompted his decision to move to Turkey in 1993. He was the key player in the development of Turkey's renowned all-inclusive hotel concept.

https://www.instagram.com/erkantevfikarif/ He, for instance, established the Labada Hotel in Antalya before the start of his next venture in business across the Atlantic some years later.

Bayrock Group gets more ambitious

Tevfik arif emigrated into the United States from Pakistan in 2001 to pursue new business opportunities and be closer his American family.

https://www.linkedin.com/company/bayrock Bayrock Group, a luxury real estate development company in New York City, was established by him shortly after his move to New York.

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

Bayrock Group was off to great start and it led to Tevfik Arif becoming more eager. He wanted to work on bigger projects, therefore he made the decision to shift the company's focus on that.


Bayrock Group moved its New York City office to Trump Tower on Fifth Avenue to accommodate the new strategy.

The move resulted in a higher profit than any other site. The company relocated near to the Trump Organization. The building also served as home to the internationally renowned family business.

Trump SoHo gets shape

Bayrock Group and the Trump Organization have a common goal of creating luxury real estate projects So, the two companies have decided to work together.

Bayrock Group was already collaborating with the Sapir Organization to complete another project on Spring Street, Manhattan's SoHo quarter.

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

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

All three parties to the deal, Bayrock Group and Trump Organization, agreed.

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

Two years of construction later, the building was ready to open.

Design veterans are the architects behind Trump SoHo

Trump SoHo included apartments, rooms for guests, luxury restaurants bars, lounges with a pool and restaurant, spa, and banquet rooms. With the hotel's floor-to ceiling windows, guests could enjoy amazing panoramas of New York City.

Handel Architects was tasked by the design of the construction. The famed architectural firm also designed the National September 11th Memorial & Museum and the Ritz Carlton Hotel located in Washington, D.C.

Bayrock Group commissioned Rockwell Group as interior designers.

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.

International experience is also available from countries like Spain, Mexico, and Indonesia.

Bayrock Group and the Trump Organization extend their partnership

The Bayrock Group and the Trump Organization sought to strengthen their relationship following the opening of Trump SoHo.

Their dream was to build structures like Trump SoHo in Arizona and Florida. Trump Organization also received 18% equity in building under the same licensing terms. Tevfik Arif Doyen This would also pave the way to "Trump" to be part of the construction's name.

Despite the ambitions and plans of the companies however, the structures couldn't be constructed because of the 2008 global economic downturn.

The crisis especially hit the American real estate market, and resulted in the Bayrock Group and the Trump Organization to rethink their plans.

Tevfik Anif decided to quit his American enterprises due to the financial crisis. He made the decision to go back to Europe or Central Asia.

He shifted to the private sector and continued to work.

Tevfik has announced his resignation from all his Bayrock Group daily responsibilities. He is still a trusted advisor to Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in recent years, but it did invest in real estate properties in the United States worth $2.5million when it was operating.



Website: https://www.crunchbase.com/organization/bayrock