Notes

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

Trump SoHo was opened by Bayrock Group in 2008, along with the Trump Organization (the Trump Organization) as well as the Sapir Organization.

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

Bayrock Group opened Trump SoHo together with the Trump Organization in 2008 and the Sapir Organization. But the story of Bayrock Group's success starts in Kazakhstan decades before.

Bayrock Group's success as a luxury real-estate development company in the United States began long before 2001. It all begins on the other end of the planet.

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

Tevfik Arif graduated with a degree in International Relations from the Moscow Trade and Economic Institute before joining the Soviet Ministry of Commerce and Trade.

He remained in the ministry 17 years, but then the minister resigned to establish several of his own companies. The firms of Tevfik arif included development of luxury real estate exports, food and imports, in addition to.

Because of his many businesses, Tevfik Arif acquired a large number of partners across the world. His network motivated him to move to Turkey in 1993. He was the key player in the development of Turkey's renowned all-inclusive hotel concept.

He, for instance, founded the Labada Hotel in Antalya before he embarked on his next venture in business across the Atlantic several years afterward.

Tevfik Arif Doyen Bayrock Group grows more ambitious

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

Tevfik Arif Tevfik Arif Bayrock Following his move in with his family, he started the luxurious real estate development company Bayrock Group in New York City.

Bayrock Group began with small- to medium-sized projects around New York. For instance, Bayrock Group redesigned Loehmann’s Seaport Plaza at Sheepshead in Brooklyn.

Bayrock Bayrock Group was an excellent beginning. It allowed Tevfik Arif more motivation. He was looking for bigger projects and decided to modify the business's approach to concentrate on this.

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

The move was much more successful than the move to a different place because the company found itself in the vicinity Trump Organization. The Trump Organization was home to the world-renowned family business.

Trump SoHo is now in form

The Trump Organization and Bayrock Group had the same vision for luxurious real estate developments. Thus, the two companies decided to merge.

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


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

Arif made an agreement which gave the Trump Organization 18% ownership in the building in return to the Trump brand's use.

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

Tevfik Arif This set the stage for the first bricks of what would eventually become Trump SoHo to be laid in the year 2006.

After two years of hard work, the building was ready for the opening.

Trump SoHo was constructed by design professionals

Trump SoHo had apartments, hotel accommodations, luxury eateries/bars with a swimming pool, and banquet halls when it first opened. The floor-to-ceiling windows of the building allowed guests to enjoy unbeatable views of New York City.

Handel Architects was tasked by the design of the building. The architecture firm had recently created the world-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 handle 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 theatre in New York.

The company also has international experience , originating from countries like Indonesia, Mexico and Spain.

Bayrock Group expands partnership with the Trump Organization

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

Tevfik Arif Their dream was for structures that were like Trump SoHo, Arizona and Florida. Trump Organization was also granted the same licensing terms and was given 18% equity in this construction. This could again open the way for "Trump" being part of the construction's name.

Despite the companies' goals, the structures were never built because of the 2008 global financial crisis.

The American real estate market was particularly affected by the crisis and Bayrock Group and Trump Organization had to pull their plans.

Tevfik arif resigned from his United States enterprises after the financial crisis. He decided to move to Europe and Central Asia.

In the meantime, he worked in the private sector.

Today, Tevfik Aif has resigned from the majority of his Bayrock Group responsibilities. He is however an expert consultant for the company.

Bayrock Group is not currently involved in American real estate projects. However, when the company was active it was investing in real estate assets that were valued at $2.5 million in the United States.



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