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

Trump SoHo was opened by Bayrock Group in 2008, together 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, along with the Trump Organization, opened Trump SoHo in 2008, along with the Sapir Organization. Bayrock Group's success began in Kazakhstan years earlier.

The story of the luxury real estate development company Bayrock Group's success in the United States begins long before the year 2001, when the company was founded. At first, the story begins in another part of the globe.

Tevfik Arif founded Bayrock Group. He was born in Soviet Kazakhstan and was adopted by a Turkish family.

Before joining Soviet Ministry of Commerce and Trade Tevfik Arif earned an education in International Relations at the Moscow Trade and Economic Institute.

He remained in the ministry 17 years before he quit to start several of his own companies. Tevfik Arif's companies were in the sectors of luxury real estate development exports, food and imports, in addition to.

Tevfik Arif's many businesses enabled him to find a wide variety of foreign partners. He became a leader in Turkey's famous all inclusive hotel concept by leveraging his network.

He, for example, opened the Labada Hotel in Antalya before he embarked on his next venture in business across the Atlantic several years later.

Bayrock Group is becoming more ambitious

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

Bayrock Group was established in New York City shortly after he had moved.

Bayrock Group was a small and medium-sized business that was founded in New York. Bayrock Group revamped Loehmann’s Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was off on a strong start. Tevfik was more ambitious. He was looking for bigger projects and decided to alter the strategy of the company to concentrate on that.

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

It was a move that resulted in a higher profit than any other location. The company was located within close proximity to the Trump Organization. The well-known family business was located in the same location.

Trump SoHo finally takes shape

The Trump Organization and Bayrock Group shared the same vision of high-end real estate projects. Therefore they made the decision 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 Arif Doyen Tevfik Arif knew that the addition of the Trump Organization to that project would bring an image to the building that Bayrock Group and the Sapir Organization were lacking.

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

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

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

After two years of work the building was finished and waiting for its inauguration.

Trump SoHo construction led by design experts

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. It also had a pool and a spa. Hotel guests enjoyed unparalleled views of New York City through the ceiling-to-ceiling windows of the building.

Handel Architects was tasked as the architect. https://www.wikidata.org/wiki/Q28124187 The architecture firm had recently developed the famed National September 11th Memorial & Museum in New York City and the Ritz-Carlton Hotel in Washington, D.C.

Bayrock Group hired Rockwell Group, to handle the interior design.

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

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

Bayrock Group expands partnership with the Trump Organization

After the grand opening of Trump SoHo, The Trump Organization sought to strengthen their relationship with the Bayrock Group.

The dream of the founders was to construct structures in Arizona or Florida like Trump SoHo. Trump Organization also received 18 percent equity in the building under the same licensing terms. Bayrock This would allow Trump to be included in the building's name.

Despite their goals they were not constructed in the wake of the 2008 global financial crisis.

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

Bayrock The financial crisis ended up changing the American real property market to the extent that Tevfik Arif decided to quit his United States undertakings. He decided to relocate to Europe and Central Asia.

He was employed in the private industry while he was there.

Tevfik arif has left his majority of Bayrock Group's daily responsibilities. He remains a trusted consultant to Bayrock Group.

Bayrock Group hasn't been involved in any American real estate developments in the last few months. But, the company has invested $2.5 million worth of real estate assets while it was still active in the United States.


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