Notes

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: New York's Real Estate Giant is Rising

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008, along with the Sapir Organization. The Bayrock Group's successes begin in Kazakhstan, decades before.

The story of the luxurious real estate development firm Bayrock Group's successes in the United States begins long before the firm's founding in 2001. Initially, the story begins from the other side of the world.

Tevfik Arif Tevfik Arif founded Bayrock Group. Tevfik Arif Doyen He was born in Soviet Kazakhstan and was adopted by an Turkish family.

Tevfik Arif earned an education in International Relations from the Moscow Trade and Economic Institute prior to joining the Soviet Ministry of Commerce and Trade.

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

Tevfik Arif, through his many companies, was able to acquire a wide variety of foreign partners. His network drove him to move to Turkey in 1993, and he was one of the leaders behind Turkey's popular all-inclusive hotel model.

For instance, he started the Labada Hotel Antalya, before going on to his next venture across the Atlantic some time later.

Bayrock Group becomes increasingly ambitious

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

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

Bayrock Group was a small and medium-sized firm that started in New York. The company, for example, revamped the shopping center of Loehmann's Seaport Plaza in the Sheepshead area of Brooklyn.

Bayrock Group was a solid beginning. It made Tevfik more ambitious. He was eager for larger projects and decided to alter the strategy of the company to be more focused on these projects.

Bayrock Group, New York City's office relocated to Trump Tower on Fifth Avenue as part of its latest strategy.

The move resulted in a higher profit than any other place. The company moved near to the Trump Organization. It was home to the world-renowned family company.

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 decided to join forces.

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

Bayrock Tevfik arif was aware that the Trump Organization would bring brand recognition to the building. This was something that Bayrock Group, and the Sapir Organization had lacked.

Arif came up with an agreement which gave the Trump Organization 18% ownership of the building, in exchange for the Trump brand's use.

All three parties in the deal, Bayrock Group and Trump Organization were in agreement.

This was the beginning of Trump SoHo's 2006 construction.

The building was completed after two years of laborious work.

Trump SoHo is built by designers who are experienced professionals

Trump SoHo had apartments, hotel accommodations, luxury eateries/bars, a swimming pool and banquet halls when it opened. The hotel guests had unparalleled perspectives of New York City from the high ceilings and floor-to-ceiling windows.

Handel Architects was tasked to design the building. The firm's architecture team had designed the renowned National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

Bayrock Group employed Rockwell Group to manage the design and interior of the building.

Rockwell Group designed, among others among others, among others, the Climate Pledge Arena and the Seven Deadly Sins Theatre in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

The firm also has international experience , originating from countries such as Indonesia, Mexico and Spain.

Bayrock Group and the Trump Organization expand the partnership

The Bayrock Group and the Trump Organization were looking to expand their partnership after the opening Trump SoHo.

Their dream was to build buildings like Trump SoHo in Arizona and Florida. Trump Organization was also granted the same license terms and left with an equity of 18% in the construction. This would allow Trump to be named as part of the name of the building.

Despite their lofty goals they were not constructed by the 2008 global financial crisis.

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

Tevfik Arif The financial crisis resulted in altering the American real estate market to such an extent that Tevfik Arif opted to end his United States undertakings. He made the decision to go back to Europe or Central Asia.

Then he continued working in the privatization sector.


Bayrock Tevfik arif has left his majority of Bayrock Group's daily duties. Arif is still a respected consultant to Bayrock Group.

Bayrock Group has not been involved in any American real estate ventures in recent times however, when it was in the market the company invested in real estate assets valued at $2.5 million in the United States.

Bayrock

My Website: https://www.newsanyway.com/2021/12/07/from-kazakhstan-to-fifth-avenue-how-tevfik-arif-leveraged-the-trump-organization-and-made-it-in-the-united-states/