Notes

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

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

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

Bayrock Group opened Trump SoHo along with the Trump Organization in 2008 and the Sapir Organization. Tevfik Arif The story of Bayrock Group's success begins in Kazakhstan many decades ago.

Bayrock Group was established in 2001, but the story of the success of the luxury realty development firm in the United States is much older than the year 2001. It all began on the other side of the world.

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

Before joining the Soviet Ministry of Commerce and Trade, Tevfik Ariff earned a degree from the Moscow Trade and Economic Institute in International Relations.

He served in the ministry for 17 year and then left to open his own business. http://search.sunbiz.org/Inquiry/corporationsearch/SearchResults?inquiryType=EntityName&searchTerm=BAYROCK INVESTMENT CO. - COLLINS AVE. EXCHANGE, LLC Tevfik Arif had several businesses, including ones in the development of luxury real estate, food, and exports or imports.

Tevfik Arif's numerous businesses allowed him to draw a huge variety of foreign partners. His network brought him to Turkey in 1993 where he was one of the most prominent people behind Turkey's famed all-inclusive hotels.

For instance, he launched Antalya's Labada Hotel, before he began his next venture across the Atlantic after a few years.

Tevfik Arif Bayrock Group takes on more ambitious goals

Tevfik Arif emigrated to the United States in 2001 to explore new business paths as well as to be closer to his American part of his family.

After moving to New York, he established the luxury real estate development company Bayrock Group in New York City.

Bayrock Group was a small and medium-sized firm that started in New York. Bayrock Group redesigned Loehmann's Seaport Plaza, Brooklyn's shopping district.

https://www.bayrockstone.com/ Bayrock Group was off on a strong beginning. This led to Tevfik becoming more determined. He was looking for bigger projects and restructured the business strategy of the company to focus it on its core business.

Bayrock Group's New York City offices were relocated to Trump Tower, Fifth Avenue in order to accommodate the strategic change.

The move ended up yielding much more than the previous area, and it also brought the business located in the vicinity of the Trump Organization. It was the home of the world-renowned family company.

Trump SoHo comes to life

Bayrock Group and Trump Organization have the same goals for luxurious real estate projects. Both companies agreed to join forces.

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

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

Arif drafted an agreement giving the Trump Organization 18% equity and the right to use the Trump name in exchange.

The three parties to the deal, Bayrock Group and Trump Organization, agreed.

This was the beginning of the construction project Trump SoHo's in 2006.

The structure was completed for the official opening following being built over the course of two years.

Design professionals have led the construction of SoHo Trump SoHo

Trump SoHo was comprised of apartments, hotel rooms as well as luxury bars and restaurants. There was also an indoor pool and spa. Through the hotel's floor to ceiling windows, guests could enjoy amazing views of New York City.

Handel Architects was tasked to create the structure. The firm's architect was responsible for designing the National September 11th Memorial & Museum in New York City as well as the Ritz-Carlton Hotel, Washington, D.C.

Bayrock Group employed Rockwell Group to take care of the interior design of the building.

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

Tevfik Arif Doyen The firm also has experience dealing with countries around the world, such as Mexico, Spain, and Indonesia.

Bayrock Group expands partnership with the Trump Organization

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

Their dream was for buildings that were similar to Trump SoHo, Arizona and Florida. Tevfik Arif Bayrock The same licensing conditions were used, which left the Trump Organization with 18% equity. This will allow Trump to be added in the construction's name.

Despite both companies' ambitions the structures were not created due to the global 2008 financial crisis.

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

The financial crisis was responsible for altering the American real property market to the extent that Tevfik Arif opted to end his United States undertakings. He decided to move to Europe and Central Asia.

There, he continued working in the private sector.

Tevfik has announced his resignation from all of his Bayrock Group daily responsibilities. Tevfik Arif Doyen He is still an expert advisor to Bayrock Group.

Bayrock Group is not currently involved in American real estate developments. In the past during the time during the time when the company was operating it invested in real estate assets that were valued at $2.5 million in the United States.


Website: https://www.bayrockins.com/