Notes

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

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

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

Bayrock Group launched Trump SoHo together with the Trump Organization and Sapir Organization in 2008. However, the story of Bayrock Group's success starts in Kazakhstan years before that.

The story about the luxury real estate development company Bayrock Group's growth in the United States begins long before the year 2001, when the company was founded. In the beginning, the story starts from the other side of the globe.

Tevfik Alif was the founder of Bayrock Group. Tevfik Arif Tevfik Arif He was born in Soviet Kazakhstan to a Turkish-speaking 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.

Tevfik Arif After 17 years in the ministry, he left to establish his own company. Tevfik Arif's firms included development of luxury real estate as well as food exports and imports, among other things.

Through his various businesses, Tevfik Arif acquired a wide array of worldwide partners. His connections led him to move to Turkey in 1993, when he became one of the main players behind the country's popular all-inclusive hotel model.

He opened, for example the Labada Hotel Antalya. This was prior to his move to the next project, which was several years later across the Atlantic.

Bayrock Group gets 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.

Bayrock Group was established in New York City shortly after the move of the founder.

Bayrock Group began with smallto medium-sized projects throughout New York. The company, for example transformed the shopping center of Loehmann's Seaport Plaza in the Sheepshead region of Brooklyn.

Bayrock Group was an excellent beginning. It allowed Tevfik Arif more motivation. He wanted to work on larger projects, and which is why he decided to move the company's focus on this.

Bayrock Group moved its New York City offices to Trump Tower on Fifth Avenue to coincide with the change in strategy.

The move yielded significantly more than the other area, and it also brought the business close to the Trump Organization. It was the home of the world-famous family organization.

Trump SoHo is now in form

Bayrock Group & Trump Organization came up with a concept of high-end real estate developments. Tevfik Arif Doyen Therefore, they came together to form a partnership.

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

Tevfik Arif knew that the Trump Organization's inclusion to this project would give the building an identity which Bayrock Group or the Sapir Organization didn't have.

Arif made an agreement in which he gave the Trump Organization 18% equity in this building in return for the Trump brand being used to promote its name.

All three parties in the deal, Bayrock Group and Trump Organization have ratified.

The doors opened to Trump SoHo, which would be the first building to be completed in 2006.

The building was completed after two years of hard work.

Trump SoHo is built by designers who are seasoned professionals


The first time it was opened, Trump SoHo consisted of hotels, apartments, luxury eateries and bars, a pool, a spa, banquet and event halls. Through the hotel's floor to ceiling windows, guests could enjoy amazing panoramas of New York City.

Handel Architects was tasked with designing the structure. The famed architectural firm also created the National September 11th Memorial & Museum, New York City and the Ritz Carlton Hotel, Washington D.C.

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

Rockwell Group, for example is the architect behind the Climate Pledge Arena The Climate Pledge Arena, the Seven Deadly Sins Theatre in New York, and Virgin Hotel in Las Vegas.

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

Bayrock Group expands partnership with the Trump Organization

After the grand opening of Trump SoHo, The Trump Organization wanted to build on their partnership with Bayrock Group.

Their dream was to build buildings like Trump SoHo in Arizona and Florida. Trump Organization was also granted the same licensing terms and was left with 18% equity in this building. It would also allow Trump to be an integral part of the title to the building.

Despite the ambitions of both firms however, the structures were not built because of the global financial crisis.

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

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

Bayrock He continued his work in the private sector.

Tevfik Arif has resigned from the majority of his day-to-day responsibilities at Bayrock Group today. Tevfik Arif Bayrock However, he continues to be a trusted consultant to Bayrock Group.

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



Here's my website: https://www.greateralabamamls.com/Office/BayrockRealEstate-107915