Notes

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

Trump SoHo was created by Bayrock Group, Trump Organization and the Sapir Organization.

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

Bayrock Group launched Trump SoHo with both the Trump Organization and Sapir Organization in 2008. The Bayrock Group's story of success began in Kazakhstan several decades ago.

The story of the luxurious real estate development firm Bayrock Group's success in the United States begins long before the firm's founding in 2001. Tevfik Arif Doyen The story begins on the other side.

Tevfik Arif was the founder of Bayrock Group. He was born in Soviet Kazakhstan and was adopted by an Turkish family.

Before joining the Soviet Ministry of Commerce and Trade in the Soviet Union, Tevfik earned a degree at the Moscow Trade and Economic Institute.

After serving in the ministry for 17-years, he decided to leave and establish several companies. Tevfik Arif was involved in the development of luxury real estate, food, exports and imports among other.

Tevfik Arif was able to create numerous international partnerships through his many companies. He was a networker who brought his company to Turkey in 1993 and became one of the pioneering factors behind Turkey's all-inclusive hotel concept.

For instance, he inaugurated Antalya's Labada Hotel, before he set off on his next adventure across the Atlantic, several years later.


Bayrock Group becomes increasingly ambitious

Tevfik Alif relocated to the United States to seek new opportunities in business, and also to be nearer to his American family in 2001.

Following his move, he founded the development company for luxury real estate Bayrock Group in New York City.

Bayrock Group started with small-to medium-sized projects in New York. For instance, the company renovated the shopping mall of Loehmann's Seaport Plaza in the Sheepshead neighborhood of Brooklyn.

Bayrock Group was off on an impressive start. This made Tevfik even more ambitious. He wanted to work on bigger projects, therefore he made the decision to shift the company's focus to the area of.

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

The move was able to yield significantly more than the other area, and it also brought the business located in the vicinity of the Trump Organization. It was the home of the world-renowned family business.

Tevfik Arif Doyen Trump SoHo takes shape

The Trump Organization and Bayrock Group had the same vision for luxurious real estate developments. So both companies have decided to join forces.

Bayrock Group was already working on a different project on Spring Street in Manhattan's SoHo quarter with the Sapir Organization.

Tevfik Arif was aware that inclusion of the Trump Organization to that project will bring brand recognition to the building, something that Bayrock Group and the Sapir Organization were lacking.

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

The agreement was reached by the Bayrock Group as well as the Trump Organization (and the Sapir Organization).

This set the stage for the very first brick of what would eventually become Trump SoHo to be laid in 2006.

Tevfik Arif Bayrock The structure was complete to be officially opened after having been constructed over the course of two years.

Trump SoHo was designed by design experts

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. The building also featured the spa and pool. Hotel guests enjoyed breathtaking perspectives of New York City from the floor-to-ceiling windows.

Handel Architects was tasked with designing the building. The firm's architect was responsible for the design of the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel, Washington, D.C.

Bayrock Group hired Rockwell Group to create the interior design of the building.

Tevfik Arif Bayrock Rockwell Group designed, among many other structures among others, among others, the Climate Pledge Arena as well as the Seven Deadly Sins Theatre in Seattle. The Virgin Hotel in Las Vegas was also designed by them.

International experiences are also available from countries like Spain, Mexico, and Indonesia.

Bayrock Group and Trump Organization increase their partnership

The Bayrock Group and Trump Organization were looking to expand their collaboration in the wake of the opening of Trump SoHo.

Their vision was to construct buildings that resembled Trump SoHo in Florida and Arizona. Trump Organization also received 18 percent equity in the building with the same license conditions. It would again pave the way for "Trump" to be an element of the construction's name.

Despite the goals of both companies however, the structures were not built due to the 2008 global financial crisis.

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

Tevfik Anif decided to leave his American companies due to the financial crisis. He decided to move to Europe and Central Asia.

He worked in the private industry while he was there.

Tevfik arif has resigned the majority of Bayrock Group's day-to-day tasks. https://www.crunchbase.com/organization/bayrock However, he is still a trusted consultant to the company.

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



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