Notes

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

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

Bayrock Group: New York Real Estate Giant Ascends

Bayrock Group, along with the Trump Organization, opened Trump SoHo in 2008 with the Sapir Organization. But the story of the Bayrock Group's success begins in Kazakhstan years before that.

Bayrock Group was established in 2001, but the story of its success as a luxury real estate development firm located in the United States is much older than the year 2001. The story began on the other side the world.

Tevfik Alif was the founder of Bayrock Group. He was taken to the world from Soviet Kazakhstan to a Turkish-speaking family.

https://california.budtrader.com/author/tevfik-arifxzhm124/ Prior to joining the Soviet Ministry of Commerce and Trade (Soviet Ministry of Commerce and Trade), Tevfik received a diploma in International Relations from the Moscow Trade and Economic Institute.

After working in the ministry for 17-years the minister decided to step down and set up a number of businesses. Tevfik Arif owned several firms which were involved in luxury realty development, food exports, as well as imports.

Tevfik Arif Bayrock Tevfik Arif has many companies which have allowed him to gain a wide range of partners across the globe. Tevfik Arif Doyen He was the leader in Turkey's renowned all inclusive hotel concept by leveraging his network.

For instance, he started the Labada Hotel Antalya, before embarking on his next venture across the Atlantic several more years later.

Bayrock Group is becoming more ambitious

Tevfik Arif moved to the United States in 2001 to discover new avenues of business and to be closer to the American family members.

Tevfik Arif Bayrock Just after moving in with his family, he started the company for the development of luxury real estate called Bayrock Group in New York City.

In the beginning, Bayrock Group executed small to medium-sized construction projects in and around New York. The company, for instance transformed the shopping center of Loehmann's Seaport Plaza in the Sheepshead area of Brooklyn.

https://rosalind.info/users/tevfik.arifscwh405 Bayrock Group was off to great start and it made Tevfik Arif more eager. He wanted to work on larger projects, and so it was his decision to change the focus of the company to that.

Bayrock Group's New York City offices were moved to the Trump Tower, Fifth Avenue, to accommodate the strategy change.

The move was more successful than moving to another place because the company found itself in the vicinity of Trump Organization. The well-known family business was located in the same location.

Tevfik Arif Trump SoHo takes shape

Bayrock Group & Trump Organization have a common vision for high-end real estate developments. They decided to combine forces.

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

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

Arif made an agreement that gives the Trump Organization 18% ownership of the building as a condition to the Trump brand's usage.

The three parties to the agreement, Bayrock Group and Trump Organization were in agreement.

This opened the way for Trump SoHo's very first brick to be laid in 2006.

After two years of hard work, the building was ready to be inaugurated.

Trump SoHo construction led by experts in design

Trump SoHo included apartments, hotel room, luxury eateries and lounges, as well as bars and a pool, and a banquet hall, spa, and banquet rooms. The windows that ran from floor to ceiling allowed guests to enjoy unbeatable views of New York City.

Handel Architects was tasked as the architect. 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 for interior design.

Rockwell Group has, for instance, designed the Climate Pledge Arena in Seattle The Seven Deadly Sins Theatre in New York and the Virgin Hotel in Las Vegas.

The company also has international experience that includes Mexico, Spain, Indonesia and Mexico.

Bayrock Group and Trump Organization expand their partnership

Following the opening of Trump SoHo, the Trump Organization as well as the Bayrock Group wanted to increase their collaboration.

Their goal was to build buildings that resembled Trump SoHo in Florida and Arizona. Trump Organization would have 18 percent equity in the building and would be licensed under the same conditions. It would once again allow Trump to be included as part of the building's name.

Despite both companies' ambitions the structures did not get created due to the global 2008 financial crises.

Bayrock The American real property market was especially affected by the financial crisis, and Bayrock Group and Trump Organization had to pull their plans.

Tevfik Alif, a Tevfik Arif employee from the United States, decided to leave his American ventures due to the effects of the economic crisis. He decided to relocate to Europe and Central Asia.

There, he continued working in the private sector.

Tevfik Arif has left most of his responsibilities for Bayrock Group today. He remains a trusted consultant for Bayrock Group.

Tevfik Arif Doyen Bayrock Group was not involved in any American Real Estate projects recently, however, Bayrock Group made an investment of $2.5 million in real estate assets in the United States when it was actively investing.


Here's my website: https://godotengine.org/qa/user/tevfik.arifqwtg803