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

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Tevfik Arif Bayrock

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

Bayrock Group: New York's Real Estate Giant is Rising

Bayrock Group opened Trump SoHo with the Trump Organization and the Sapir Organization in 2008. The Bayrock Group's success started in Kazakhstan several decades before.

Bayrock Group, a luxury real estate developer in the United States, has a long and rich history dating all the way to 2001, the year the company was founded. The story starts on the other side.

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


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

After being as a minister for 17 years the minister decided to step down and establish several companies. Tevfik Arif owned several firms which were involved in the development of luxury real estate as well as food exports and imports.

Tevfik Arif, through his numerous companies, was able to acquire a wide variety of foreign partners. His connections led him to Turkey in 1993, where he was among the key people behind Turkey's famed all-inclusive hotels.

In the past, for instance, he launched Antalya's Labada Hotel before embarking on his next venture across the Atlantic many years later.

Bayrock Group grows more ambitious

Tevfik Arif emigrated to the United States in 2001 to explore new avenues for business and also to be closer to his American family members.

He moved to New York City just after the establishment of Bayrock Group, a luxury real estate development company.

https://www.hngn.com/articles/241711/20220419/revealed-how-tevfik-arif-and-trump-got-acquainted.htm Bayrock Group started out with small-to-medium-sized jobs located in New York. Bayrock Bayrock Group, as an example revamped Loehmann's Seaport Plaza in Brooklyn's Sheepshead.

Bayrock Bayrock Group was an excellent start. It allowed Tevfik Arif more determination. He was eager for larger projects and decided that he would alter the strategy of the company to focus more on these projects.

Bayrock Group moved its New York City headquarters to Trump Tower Fifth Avenue in support of the strategic shift.

This decision resulted in much more than just a new site because it put the company near the Trump Organization. It was home to the world-renowned family company.

Trump SoHo finally takes shape

Bayrock Group and the Trump Organization have a common goal of building luxury real estate projects So, the two companies have decided to work together.

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

Tevfik Arif knew that the addition of the Trump Organization to that project would add an image to the building that Bayrock Group and the Sapir Organization lacked.

Arif wrote an agreement that provided the Trump Organization 18% equity in this building , in exchange for the Trump brand being used as its brand name.

https://www.newsanyway.com/2021/12/07/from-kazakhstan-to-fifth-avenue-how-tevfik-arif-leveraged-the-trump-organization-and-made-it-in-the-united-states/ The agreement was approved by the Bayrock Group, Trump Organization and the Sapir Organization.

The doors opened to Trump SoHo, which would be the first brick laid in 2006.

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

Trump SoHo is built by designers who are experienced professionals

Trump SoHo opened in Manhattan and featured hotels, apartments along with luxury bars and restaurants. The building also had the pool, spa, and banquet halls. The guests of the hotel enjoyed unbeatable views of New York City from the high ceilings and floor-to-ceiling windows.

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 employed Rockwell Group to manage the design and interior of the building.

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

Bayrock Furthermore, the firm has extensive international experience countries like Spain and Mexico.

https://www.charlesbridge.com/pages/fiona-bayrock Bayrock Group expands partnership with the Trump Organization

The Bayrock Group and the Trump Organization were looking to expand their collaboration following the opening Trump SoHo.

Their goal was to construct structures like Trump SoHo in Arizona and Florida. https://www.homesgofast.com/international-real-estate/blog/donald-trump-and-bayrocks-tevfik-arif-invest-in-turkish-real-estate Tevfik Arif The same licensing conditions were employed, which left the Trump Organization with 18% equity. This would allow Trump to be included in the building's name.

Despite the ambitions of both companies, the structures were never built because of the global financial crisis of 2008.

The American realty market was particularly affected by the recession. Bayrock Group, and the Trump Organization were forced to end their plans.

Tevfik arif resigned from his United States enterprises after the financial crisis. He chose to return to Europe and Central Asia.

He continued his work in the private sector.

Tevfik arif has resigned his major part of Bayrock Group's everyday responsibilities. But, he will continue to be a trusted consultant for Bayrock Group.

Bayrock Group was not involved in any American Real Estate ventures in the past, but the company invested $2.5 million in real estate assets in the United States when it was actively investing.


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