Notes

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

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

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

Bayrock Group launched Trump SoHo along with the Trump Organization and Sapir Organization in 2008. The Bayrock Group's successes begin in Kazakhstan many decades prior to.

Bayrock Group, a luxury real estate developer in the United States, has a long history that goes back to 2001 , when the company was founded. The story begins on the other side.

Tevfik Ariff, a Turk-born native of Soviet Kazakhstan, founded Bayrock Group.

Tevfik Arif graduated with an undergraduate degree in International Relations at the Moscow Trade and Economic Institute before becoming a member of the Soviet Ministry of Commerce and Trade.

https://pilarr.com/tevfik-arif-and-the-company-bayrock-group-behind-trump-soho/ He was a minister for 17 years before he left to open his own business. Tevfik Arif had several businesses, including ones in the development of luxury real estate food, exports, or imports.

Tevfik Arif's many businesses enabled him to draw a huge number of international partners. He was a networker, and drove his company to Turkey in 1993, where he became one of the first to be behind Turkey's concept of an all-inclusive hotel.

Tevfik Arif In the past, for instance, he set up Antalya's Labada Hotel before embarking on his next venture across the Atlantic several years later.

Bayrock Group takes on more ambitious goals

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

Bayrock Group was established in New York City shortly after his move to New York.

At first, Bayrock Group executed small to medium-sized construction projects in and around New York. Bayrock Group has redesigned the Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off to a good start, and it led to Tevfik Arif becoming ever more ambitious. Tevfik Arif Bayrock He wanted to work on bigger projects, so he made the decision to move the company's focus towards that.

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

The move produced more profit than any other place. The company was located within close proximity to the Trump Organization. The family-respected organization was headquartered in the same location.

Trump SoHo gets shape

The Trump Organization and Bayrock Group had the same vision for luxury real estate projects. So both companies decided to merge.

Bayrock Group had already begun work on a new project in Manhattan's SoHo neighborhood along Spring Street with the Sapir Organization.

Tevfik Alif knew that adding the Trump Organization to the project could help to increase brand recognition for the building which Bayrock Group lacked and that the Sapir Organization was lacking.

Arif made an agreement that gives the Trump Organization 18% ownership in the building in return for the Trump brand's use.

Bayrock Group, the Trump Organization and the Sapir Organization all agreed to the deal.

This opened the way to Trump SoHo, which would be the first brick laid in 2006.

After two years of hard work The building was finally ready for its inauguration.

Trump SoHo construction is led by design experts

Trump SoHo was comprised of apartments, hotel rooms and luxury eateries and bars. There was also a pool and a spa. Hotel guests enjoyed unparalleled views of New York City through the glass ceilings of the hotel.

Handel Architects was tasked to design the building. Tevfik Arif The firm's previous projects included developed the famous National September 11th Memorial & Museum (New York City) and the Ritz Carlton Washington Hotel (D.C.).

Bayrock Group engaged Rockwell Group to design interiors.

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.

In addition, the company has extensive experience abroad in countries such as Spain as well as Mexico.

Bayrock Group and Trump Organization expand their collaboration

Following the launch of Trump SoHo, the Trump Organization and Bayrock Group wanted to increase their partnership.

Their dream was to construct structures similar to Trump SoHo in Florida and Arizona. Trump Organization was also granted the same licensing terms and left with an equity of 18% in this construction. It would again pave the way for "Trump" to be a an element of the construction's name.

Despite the two companies' ambitions however, the structures weren't completed due to the global financial crisis of 2008.

The American real estate market was particularly hard hit by the financial crisis. Bayrock Group was forced to withdraw plans as well as Trump Organization was forced to cancel their plans.

Bayrock Tevfik Arif Doyen Tevfik Anif opted to leave his American enterprises due to the economic crisis. http://www.bayrockrealestate.com/ He decided to move to Europe and Central Asia.

He was transferred into the private sector, and continued to work.

Tevfik has quit today from all of his Bayrock Group daily responsibilities. But, he remains a respected consultant to the business.

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

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