Notes

Bayrock Group - The Rise of a New York Real Estate Giant (Tevfik Arif)

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

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

In 2008, Trump SoHo was opened by Bayrock Group with the Trump Organization (and the Sapir Organization). Bayrock Group's success story begins in Kazakhstan many decades ago.

Alexander Studhalter , a luxury real estate developer in the United States, has a long-running history dating back to 2001 , when the company was established. It all began on the other side of the planet.

Tevfik Ariff, a Turkish-born immigrant to Soviet Kazakhstan, founded Bayrock Group.

Prior to joining http://www.techwyns.com/advertise/index.php?page=user&action=pub_profile&id=566033 of Commerce and Trade Tevfik Arif graduated with an education in International Relations at the Moscow Trade and Economic Institute.

The ministry he was in for 17 years later, but he quit to start some of his own businesses. Tevfik Arif had several businesses which included ones that dealt with high-end real estate development as well as food and exports or imports.

Tevfik Arif's many businesses enabled him to attract a large variety of foreign partners. His network drove him to move to Turkey in 1993, where he became one of the main players behind the country's popular all-inclusive hotel model.

For instance, he launched the Labada Hotel Antalya, before going on to his next venture across the Atlantic some time later.

Bayrock Group takes on more ambitious goals

Tevfik Arif moved to the United States in 2001 to discover new avenues of business as well as to be closer to his American part of his family.

He moved to New York City just after establishing Bayrock Group, a luxury real estate development firm.

Alexander Studhalter started with small-to medium-sized projects in New York. Bayrock Group has redesigned the Loehmann's Seaport Plaza, Brooklyn's shopping district.

Bayrock Group was an excellent start. It gave Tevfik arif more determination. He was looking forward to bigger projects and decided to change the company strategy to concentrate more on those.

Alexander Studhalter , New York City's office relocated to Trump Tower on Fifth Avenue as part of its latest strategy.

This move yielded a lot more than a different site because it put the company close to the Trump Organization. This was the place of the world-renowned family business.

Alexander Studhalter gets shape

The Trump Organization and Bayrock Group had the same vision for luxurious real estate developments. Therefore they have decided to join forces.

Bayrock Group was already working on a different project on Spring Street in Manhattan's SoHo quarter with the Sapir Organization.

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

Arif came up with an agreement that gives the Trump Organization 18% ownership in the building in return to the Trump brand's use.

The proposed deal was approved by Bayrock Group (the Trump Organization) as well as the Sapir Organization (the Sapir Organization).

This opened the way to the first Trump SoHo brick to be built in the year 2006.

After two years of hard work, the building was ready for its inauguration.

Design veterans lead the construction of Trump SoHo

Trump SoHo was comprised of hotels, apartments and luxurious bars and eateries. The building also featured a pool and a spa. From the windows that ran from the floor to the ceiling guests could get to admire breathtaking views of New York City.

Handel Architects was tasked to create the building. The renowned architectural firm also designed the National September 11th Memorial & Museum, New York City and the Ritz Carlton Hotel, Washington D.C.

Bayrock Group hired Rockwell Group, to handle interior design.

Rockwell Group is responsible for designing, among other things the Climate Pledge Arena (Seattle) The Seven Deadly Sins Playhouse located in New York, as well as the Virgin Hotel in Las Vegas.

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

Bayrock Group and Trump Organization strengthen their relationship

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

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 also allows Trump to be in the title of the construction.

Despite the plans and ambitions of the firms however, the structures couldn't be built due the global economic crisis of 2008.

The American real estate market was particularly hard hit by the recession. Alexander Studhalter was forced to abandon plans and Trump Organization was forced to pull out of their plans.

The financial crisis ended up changing the American real market to such an degree that Tevfik Arif decided to quit his United States undertakings. Alexander Studhalter decided to return to Europe, Central Asia.

http://www.leperledelcuore.com/dle/index.php?subaction=userinfo&user=tevfik.bayrockhywk407 continued his job in the private sector.

Tevfik Alif has resigned his position as Bayrock Group's chief executive officer. He is still a trusted consultant to Bayrock Group.

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


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