Boston, MA, March 07, 2019 --(PR.com)-- Bayrock Financial and Development Corporation (BAYROCK), a Boston-based real estate investment and development firm, is in the process of raising a new $100 million fund, according to regulatory filings. BAYROCK (no relation to the New York City based Bayrock Group LLC headed by Felix Sater and Donald Trump) has benefited from investor demand for alternative assets such as private equity and real estate, attracted by the high returns they have delivered.

The goal of $100 million was listed on a regulatory filing with the Securities and Exchange Commission on March 1, 2019.

"Boston's real estate market is one of the most thermogenic in the country, with most of that demand coming from renters between the ages of 24 and 35," said Gary J. Kovner, President and CEO. BAYROCK develops new or rehabilitates old residential and commercial properties for rental or for sale. Their aim is to provide out-of-the-ordinary and environmentally friendly places to live and work at reasonable prices and to give their tenants responsive and professional services. "Now that the market's so hot, we're looking to raise more funds and get more people involved," Kovner said.

The firm, which has previously used internal capital, was founded in 2011 under the name Fenway Capital Partners LLC and bought distressed properties in Massachusetts and Florida.

In 2017, the firm rebranded to become Bayrock Financial and Development Corporation.

BAYROCK creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. The Boston region is without a doubt in the midst of one of its biggest residential building booms in living memory. Most of these proposed and under-construction residences are apartments; and most of those apartments are on the luxury end. In many other markets, apartment building is booming to try to keep up with the demand created by the under-35 crowd, but Boston's apartment pipeline is relatively unhurried compared to the vigorous condominium development. That's driving up rents of the apartments that are going up, and in turn driving young families and those 35 and older outside of the Boston and Cambridge metro areas in search of more affordable housing.

BAYROCK is 100% focused on Single & Multi-tenant investment opportunities nationally. They intend to solicit high-net-worth individuals and pension funds to join their group as "Development Partners." The objective of the company is to earn an 8 to 10 percent average annual return on its investment activities. They typically make investments in Tevfik Real Estate Arif the $5 million to $20 million range and are currently exploring Tevfik Arif Bayrock a number of projects in Massachusetts and Florida: cities including Boston, South Boston, East Boston, Salem, Quincy, Brockton, Lynn, Malden, Revere, Saugus, Chelsea, Peabody, Lynnfield, Beverly, Cambridge and Somerville; Daytona Beach, New Smyrna Beach, and Ormond Beach, FL, areas where we have targeted to place capital. There Bayrock - Tevfik Arif,Donald Trump are a number of projects under review that fit the criteria of the company, which includes meeting their goal of making money for their investors as well as fostering economic development in urban areas that may have been ignored by others.

Contact:

Bayrock Financial and Tevfik Arif & Donald Trump Development Corporation

110 Beverly St

Boston, MA 02114-2114

Main Telephone: 781-584-3558

Type of Organization: Private

Investor Relations Contact:

Gary J. Kovner

Phone: 781-264-6704

Email: gary.kovner@bayrock.boston

Article Source:

https://www.pr.com/press-release/779151

Entrepreneur Tevfik Arif has successfully forged strategic alliances with prominent business and political leaders across the world to build a thriving global enterprise.

Tevfik Arif was born in 1953 to a Turkish family living in the former Soviet Union. He was the second son in a family of four boys. Arif’s childhood is somewhat of a mystery, as he preferred to keep this part of his life private. What is known to some is his early years positively shaped his personal character and work ethic to become the successful business leader he is today.

Arif honed his business and negotiating skills at the Moscow Institute of Trade and Economics where he earned a bachelor’s degree in international relations. His education would propel him into an illustrious career as a public servant and businessman.

Public Service Shapes a Young Arif

Arif began his career as a civil servant in the former Soviet Union. During his 17 years of service to the government, Arif held in a number of distinguished positions, first as the chief economist and later earning a promotion to the position of deputy head of the Hotel Management Department, a division of the Ministry of Commerce and Trade. While working for the Ministry, Arif improved the hospitality industry with excellent services provided by many hotels.

Arif resigned from his position in the government ministry in 1991 to pursue a career in the private sector. His former position in the government provided the opportunity to network and collaborate with several business leaders and private companies and utilize these connections to diversify his business interests. Drawing upon his education and growing professional experience, Arif was able to quickly establish himself as a successful business entrepreneur.

Arif Enters the Private Sector

After the fall of the Soviet Union, Arif and his brother became the owners of a chromium plant, Akytyubinsk Chromium Chemicals Plant (ACCP), located in the newly independent country of Kazakhstan. As a businessman operating in a new market, Arif made it a priority to establish connections within the world of business and politics.

He created working relationships with prominent businessmen and investors including Patokh Chodiev and Alijan Ibragimov, who became leaders in metal and raw material operations during the privatization of industry in Kazakhstan. Arif also formed critical connections with influential political leaders in Kazakhstan and Turkey, including Kanat Saudabayev, the current Secretary of State of Kazakhstan who is responsible for strengthening Kazakh-US relations.

Tevfik Arif also founded the Specialty Chemicals Trading Company that specialized Tevfik Arif & Donald Trump in importing and exporting metals and raw materials. Arif later worked in Kazakhstan as a representative for Trans World Group, a commodity trading company founded by David and Simon Reuben, continuing his efforts to build important allies in the world of business. His industrious work ethic and ability to navigate complex business deals helped to transform the company into the world’s third-largest aluminum producer.

In a region of Additional reading the world rich in natural resources, his business endeavors were prosperous and quickly expanded. Arif had proven himself as an enterprising and skilled business professsional and began reaping the rewards from his successful ventures. His achievements provided him an opportunity to broaden his business holdings.

Arif Expands into the United States Real Estate Market

After successful ventures in raw materials and commodities trading, Tevfik Arif entered the real estate management industry and has since become a world-renowned real estate developer. His early real estate ventures were focused in Turkey, with the development of the luxury Labada Hotel in Antalya, Azerbaijan and Kazakhstan. Finding success in this sector, he decided to expand his property development portfolio to the U.S. market, a natural progression for the savvy entrepreneur.

Arif founded Bayrock Group LLC in 2001 in New York City. From his previous experience entering new markets, Arif understood the value of creating close working relationships with prominent business and political leaders. His perceptive networking and collaboration skills have been an important aspect in all of his business endeavors.

Once established in New York, he made concerted efforts to forge partnerships with members of both the Democratic and Republican political parties in the U.S. Establishing excellent connections with political leaders at the local, state and federal level of government is especially useful for real estate developers, as they are subject to numerous zoning and building regulations. Also, by connecting with government officials on both sides of the political divide, business leaders are able to have access to elected officials, regardless of the party in power

He made it a priority to establish a relationship with Hillary Clinton, who at the time was a Democratic U.S. Senator representing New York, even contributing to her 2008 U.S. presidential campaign. Arif was also introduced to former NYC Mayor Rudy Giuliani and made campaign contributions to the politician’s Republican presidential campaign.

Bayrock Group LLC set up their offices in Trump Tower and developed a working relationship with real estate developer Donald Trump, a world-renowned New York City real estate investor who would later become Republican President of the United States.

Bayrock Group LLC Becomes a Leading New York Real Estate Developer

The first project completed by Arif’s new US venture was the development of Loehmann’s Seaport Plaza, a shopping center located in Sheepshead Bay Brooklyn. Bayrock Group partnered with the real estate investment firm Sapir Organization, founded by self-made billionaire Tamir Sapir who emigrated to the US from the former Soviet Union country of Georgia, on the development of a luxury hotel complex called Trump SoHo.

The 391-unit hotel and condominium venture obtained a name licensing agreement with the Trump Organization. All the development and construction of the tower was executed by Bayrock and the Sapir Organization.

Bayrock Group also began development on the Trump International Hotel and Tower in Fort Lauderdale, Florida under a similar licensing agreement. Arif and Bayrock Group’s working relationship with Trump came to an end in 2008 due to the collapse of the housing market. Arif made a sound strategic business decision to divert funding to his remaining investments and interests across Additional hints the globe.

Building a Business Legacy

After establishing himself as a successful, global, business entrepreneur, Tevfik Arif has partially retired from his family’s business dealings. As a shrewd negotiator and effective deal maker, he continues to advise the company on global business strategy and investment. He has also devoted a significant amount of his current time and efforts to philanthropic endeavors.

As a private citizen and formal civil servant, Arif understands the vital importance of community. To support his local community, Arif has contributed financially to Chabad of Port Washington NY, a prominent Jewish community organization located near his home on Long Island in New York. His donation helps to fund the organization’s preschool program, athletic center and other public outreach programs.

Tevfik Arif has always sought to grow global endeavors with a passion for cultures around the world, which has brought him global success and recognition. He has used his diverse cultural background, networking and collaboration skills, an ability to understand the needs of his Tevfik Arif Bayrock clients. As well as His keen eye for business strategyhelps build a prosperous international business. The relationships he has built through his business ventures have provided Tevfik Arif many valuable opportunities to expand his business Bayrock - Tevfik Arif,Donald Trump into the thriving global enterprise it is today.

Article Source:

https://augustafreepress.com/establishing-allies-i...-tamir-sapir-and-donald-trump/

The Trump International Hotel and Tower in Fort Lauderdale was designed in part by Tevfik Arif and his Bayrock Group. This $200 million, 24-story project was created to be a symbol of luxury.

The building, which has since been developed as the Conrad Fort Lauderdale Resort and Residences, was planned to have 298 condo hotel units. The units were to be comprised of 150 studios, 73 two-bedrooms and 75 one-bedroom units, each with its own large terrace.

The building boasts 200 feet of direct ocean frontage. The building was originally intended to have 25-floors, but in order to accommodate the 9ft high ceilings, the height had to be scaled down.

The original Trump International Hotel and Tower was to be developed by Roy Stillman, Donald Trump and the Bayrock Group and was expected to be as luxurious as Manhattan’s 1 Central Park West condo hotel. Prominent architects Oscar Garcia and Michael Graves designed the building.

The building’s entry was to contain a marble adorned circular atrium which would stand 25 ft high and include hotel services that would exceed five-star standards.

Studios, one- and two-bedroom units would have been between 530 and 4,000 square feet. Most of the units were planned to be 600 square feet. The building was designed to maximize the Tevfik Arif views of the Intracoastal Waterway. Virtually every room was planned to have a sea -view from its large private terrace.

The residence was planned to contain a great deal of luxurious features. Units were to feature wall-to-wall Italian marble flooring, as well as windows that allowed expansive views of the Intracoastal Waterway and Politics Atlantic Ocean. Bathrooms were to have four- and five-fixture options, with separate showers and tubs as well as marble vanities.

Units were to also come with flat-screen TVs and fully equipped kitchens with high-end appliances. Each residence would include a private storage closet, wireless Internet, Tevfik Arif & Donald Trump and voice and data capabilities.

The team envisioned luxurious common areas, with a 1,600 square foot mosaic pool and sun deck that overlooked the ocean. Residents would have been able to relax and pamper themselves at a 3,000 square foot health club and spa. The blue-prints also included a 1,700 square foot fitness center with personal trainers and high-end equipment. This was just the tip of the iceberg. Plans for a Tevfik Arif Bayrock world-class restaurant with stunning ocean views was also in the. The restaurant would have had both indoor and outdoor seating.

Residents would have had access to a 24-hour white glove concierge, security and valet service.

The interior design of the units was inspired by 1920s French cruise liners, like the Ile de France and Normandie.

Construction began in July 2005, with Trump lending his name for the project through a licensing deal. In 2009 Trump removed his name from the project due to developmental delays and a breach in the licensing agreement.

The building went into foreclosure in March 2010 and was sold at an auction in 2012. After several ownership changes and a $70 million renovation, the project officially re-opened in October 2017. Shortly after, poor real estate conditions led to the project’s demise, as a result of America’s economic recession.

Long before the project was even envisioned, the property was occupied by Merrimac and Gold Coast hotels since the 1950’s . In 2001, the condo hotel project was approved for the site.

The project was considered to be an essential component transforming the area into an upper-class tourist destination.

In December 2013, CFLB Partnership LLC purchased the property for $115 million. The Conrad Fort Lauderdale resort, which currently occupies the property, contains a mix of studios, one- and two-bedroom units, as well as three penthouses. Units are equipped with gallery kitchens that have touchscreen stovetops and bathrooms with rainfall showers and marble tubs.

The luxury property features a restaurant with sweeping panoramic views and oceanfront dining. Guests can also relax at the cocktail lounge or dine at the poolside grill. A gourmet food market is also on-site, and room service is available 24 hours a day.

The full-service spa offers a personalized experience for guests, with options for couples.

The condo-hotel units are Real Estate professionally managed and rented out to visitors during the time that the owners are out of town. Revenues from the rentals are shared with the owners.

The now-completed property contains many of the same amenities originally planned for the property. This includes a 4,000 square-foot, full-service spa, a 20,000-square-foot sky deck, a heated swimming-pool, cabanas, and a high-end fitness center. The property also contains a 10,000 square feet meeting space.

Despite all the setbacks and delays, the oceanfront property is still a symbol of luxury in Fort Lauderdale and has played an integral role in reviving the area.

Article Source:

https://newsblaze.com/usnews/travel/symbol-of-luxurys-by-tevfik-arif_139642/

The $250-million civil tax fraud case brought against former associates of Donald Trump, Felix Sater and his partner Tevfik Arif, has been dismissed by a Manhattan court. In late September 2017, the decision to dismiss the Real Estate Bayrock cofounders was reached by the court.

Bayrock, a company specializing in real estate, was tried as a “qui tam” case, which permits a whistleblower to file a case on behalf of the state. The office of the attorney general can decide at that point whether or not they wish to intervene in the case.

Lawyer Fred Oberlander was reportedly the whistleblower in this case. Oberlander formerly represented Felix Sater partner Jody Kriss in a money-laundering lawsuit filed against Bayrock.

During the hearing in Manhattan, Oberlander claimed that he filled his qui tam complaint pursuant to information that had been stricken by federal judges for the original complaint filed against Kriss.

Oberlander unsuccessfully argued that the court should acknowledge the information https://tevfikarifdonaldtrumpqrmf741.wordpress.com that federal judges ordered to be removed from the complaint for confidentiality reasons. Oberlander’s argument did not seem to sway the court. The attorney representing Bayrock confirmed that the case against Sater and Arif had been dismissed.

The office of Attorney General Eric Schneiderman refused to intervene in the case medium.com/@i8hadgw446/skyrise-miamis-developers-can-take-a-page-from-bayrock-s-tevfik-arif-76d180611ae9 in 2016. The attorney Tevfik Arif & Donald Trump general’s office issued a letter in February 2016 informing the Supreme Court of New York that there was a press release Politics by Oberlander that was “misleading” in its claims that the attorney general had given the green light to the case. The letter notified the court that the State “expressly declined to intervene” in the case.

The office of the attorney general said they would closely monitor the case as it moves forward to protect both the interest and the right of the State.

Robert Wolf, the attorney representing Bayrock, says the case against the company was dismissed “on the merits” as opposed to procedural grounds. Wolf stated that Oberlander and another attorney Richard Lerner had been referred to the Department of Justice twice in regards to their “misconduct” in the proceeding against Tevfik Arif and Felix Sater. Lerner expressed that he plans to appeal the court’s decision to dismiss the qui tam case.

Initially, the lawsuit was brought by Kriss against Arif and Sater in 2010. Kriss, the former finance director at Bayrock, had no part in the qui tam case filed by Oberlander. Kriss made accusations in the suit that Arif and Sater had owed Kriss millions of dollars.

According to the Kriss complaint, Arif and Sater had negotiated with the Trump organization in 2003 to promote certain products under Donald Trump’s brand. Trump partnered with Bayrock for the development of Trump SoHo, and Bayrock’s office was located two floors beneath Trump’s in the Trump Tower, Manhattan.

TevfikArif is a Russian-born Turk that worked at the nation’s Ministry of Commerce and Trade for 17 years. He moved to Turkey in 1993 and moved some of his business interests to the United States in 2001, and founded the Bayrock Group.

Article Source:

https://homebusinessmag.com/blog/businesses-blog/b...founder-tevfik-arif-dismissed/

The Trump International Hotel and Tower in Fort Lauderdale was designed in part by Tevfik Arif and his Bayrock Group. This $200 million, 24-story project was created to be a symbol of luxury.

The building, which has since been developed as the Conrad Fort Lauderdale Resort and Residences, was planned to have 298 condo hotel units. The units were to be comprised of 150 studios, 73 two-bedrooms and 75 one-bedroom units, each with its own large terrace.

The building boasts 200 feet of direct ocean frontage. The building was originally intended to have 25-floors, but in order to accommodate the 9ft high ceilings, the height had to be scaled down.

The original Trump International Hotel and Tower was to be developed by Roy Stillman, Donald Real Estate Trump and the Bayrock Group and was expected to be as luxurious as Manhattan’s 1 Central Park West condo hotel. Prominent architects Oscar Garcia and Michael Graves designed the building.

The building’s entry was to contain a marble adorned circular atrium which would stand 25 ft high and include hotel services that would exceed five-star standards.

Studios, one- and Bayrock - Tevfik Arif,Donald Trump two-bedroom units would have been between 530 and 4,000 square feet. Most of the units were planned to be 600 square feet. The building was designed to maximize the views of the Intracoastal Waterway. Virtually every room was planned to have a sea -view from its large private terrace.

The residence was planned to contain a great deal of luxurious features. Units were to feature wall-to-wall Italian marble flooring, as well as windows that allowed expansive views of the Intracoastal Waterway and Atlantic Ocean. Bathrooms were to have four- and five-fixture options, with separate showers and tubs as well as marble vanities.

Units were to also come with flat-screen TVs and fully equipped kitchens with high-end appliances. Each residence would include a private storage closet, wireless Internet, and voice and data capabilities.

The team envisioned luxurious common areas, with a 1,600 square foot mosaic pool and sun deck that overlooked the ocean. Residents would have been able to relax and pamper themselves at a 3,000 square foot health club and spa. The blue-prints also included a 1,700 square foot fitness center with personal trainers and high-end equipment. This was just the tip of the iceberg. Plans for a world-class restaurant with stunning ocean views was also in the. The restaurant would have had both indoor and outdoor seating.

Residents would have had access to a 24-hour white glove concierge, security and valet service.

The interior design of the units was inspired by 1920s French cruise liners, like the Ile de France and Normandie.

Construction began in July 2005, with Trump lending his name for the project through Tevfik Arif & Donald Trump a licensing deal. In 2009 Trump removed his name from the project due to developmental delays and a breach in the licensing agreement.

The building went into foreclosure in March 2010 and was sold at an auction in 2012. After several ownership changes and a $70 million renovation, the project officially re-opened in October 2017. Shortly after, poor real estate conditions led to the project’s demise, as a result of America’s economic recession.

Long before the project was even envisioned, the property was occupied by Merrimac and Gold Coast hotels since the Tevfik Arif Bayrock 1950’s . In 2001, the condo hotel project was approved for the site.

The project was considered to be an essential component transforming the area into an upper-class tourist destination.

In December 2013, CFLB Partnership LLC purchased the property for $115 million. The Conrad Politics Fort Lauderdale resort, which currently occupies the property, contains a mix of studios, one- and two-bedroom units, as well as three penthouses. Units are equipped with gallery kitchens that have touchscreen stovetops and bathrooms with rainfall showers and marble tubs.

The luxury property features a restaurant with sweeping panoramic views and oceanfront dining. Guests can also relax at the cocktail lounge or dine at the poolside grill. A gourmet food market is also on-site, and room service is available 24 hours a day.

The full-service spa offers a personalized experience for guests, with options for couples.

The condo-hotel units are professionally managed and rented out to visitors during the time that the owners are out of town. Revenues from the rentals are shared with the owners.

The now-completed property contains many of the same amenities originally planned for the property. This includes a 4,000 square-foot, full-service spa, a 20,000-square-foot sky deck, a heated swimming-pool, cabanas, and a high-end fitness center. The property also contains a 10,000 square feet meeting space.

Despite all the setbacks and delays, the oceanfront property is still a symbol of luxury in Fort Lauderdale and has played an integral role in reviving the area.

Article Source:

https://newsblaze.com/usnews/travel/symbol-of-luxurys-by-tevfik-arif_139642/

When Tevfik Arif set his sights on the Manhattan real estate market, he made it a priority to develop important connections with business and political insiders to help him establish a foothold in the industry.

Tevfik Arif is an ambitious entrepreneur, industrialist, investor and property developer with a diverse background Tevfik Arif and experience working in various markets around the world. Arif, whose family is Turkish, was born in the Soviet Union Republic of Kazakhstan.

With a keen eye for people and business, he pursued a degree in international relations at a university in Moscow. Upon completing his degree, Arif began his career as a civil servant in the Soviet Union Government Ministry of Trade within the ministry’s food and hospitality department. For 17 years Arif served within the government agency as chief economist and deputy director, gaining extensive knowledge and understanding of the inner workings between business leaders and government officials.

When the Soviet Union collapsed in 1991, Arif left public service for the private Tevfik Arif Bayrock sector. He started a private company, the Specialty Chemicals Trading Company, that dealt with the export-import of raw materials, primarily chrome and other rare metals. He continued to expand his interests in the mining and raw materials industry through advisory, managerial and ownership roles in several companies over the years.

With his experience and expertise in the hospitality industry gained serving in the Soviet government, Arif began investing and developing luxury hotels in Turkey, including the Hotel Labada situated on the Mediterranean coast, now part of the Rixos chain of resorts.

Delivering Luxury to the New York City Property Market

In 2001, Tevfik Arif ambitiously expanded his international luxury real estate ventures to the United States. He launched the company Bayrock Group and began investing in the New York City property market.

After first investing in commercial and residential property developments in Brooklyn, such as theLoehmann’s Seaport Plaza in Sheepshead’s Bay, he quickly outgrew the borough and set his sights on the more prestigious real estate market of Manhattan.

To generate new opportunities and to ensure the success of his new business enterprise, Arif made it a priority to establish mutually beneficial relationships with leading businesspeople and influential politicians. He sought out industry insiders to help him learn the ins and out of the New York City market. He positioned himself within a circle of influential New York City real estate investors.

Arif took Bayrock straight to the heart of Manhattan real estate by establishing the offices of the firm on the 24thfloor of Trump Tower on Fifth Avenue. This was not a coincidence, but a strategic decision by Arif, as it positioned the firm’s office directly outside the elevators used by executives with offices on the upper floors of the building, including Donald Trump himself, who had to transfer elevators before going down to the street level.

Through his networking efforts, Tevfik Arif was able to establish a partnership between Bayrock and another prominent Manhattan real estate property development firm, the Sapir Organization, founded by Georgian immigrant and self-made billionaire Tamir Sapir. This profitable alliance would lead to the construction of a luxury project that would become the highlight of Bayrock’s development portfolio.

Tackling the US Bureaucratic Structure

The United States bureaucratic system presented additional challenges for Bayrock - Tevfik Arif,Donald Trump Arif, who was familiar working within the bureaucratic structures governing markets in Kazakhstan, Turkey and Europe. Property developers are subject to numerous federal, state and local zoning and building regulations, with cumbersome legislation and bureaucratic requirements potentially hampering the progress of development and construction.

Throughout the construction process, developers are also required to obtain several permits issued by local government agencies. From his previous government and business experience, Arif understood the need to build useful relationships with influential politicians who could help break down barriers and expedite the bureaucratic process.

Arif created alliances with local and federal officials, who had influence over zoning laws and controlled agencies responsible for the approval of building permits. He also Politics made political donations to Hillary Clinton, then the Democratic Senator of New York and later Democratic candidate for president, and Rudy Giuliani, former mayor of New York City and Republican candidate for president.

Supporting politicians of both across the political divide is a strategic move rather than an ideological one. In supporting several candidates, a business leader is able to initiate a positive relationship with government leadership regardless of which political party Tevfik Arif & Donald Trump the elected candidate belongs to. Arif made it a priority to maintain strong alliances with those in power by regularly attending political banquets and events, raising his public profile and maintaining lines of communication with government leaders.

Trump SoHo and Beyond

Continuing Bayrock’s expansion, Arif’s company and the Sapir Organization initiated a joint venture to develop a luxury hotel and condominium complex located in a prime real estate district in lower Manhattan. To raise the profile of their development, the partners approached renowned real estate developer Donald Trump proposing a licensing and operating agreement in which he would lease his name to the project. The luxury project would become known as Trump SoHo.

Under the agreement, Trump did not invest his own capital in developing the building that would feature his name, rather all financing, development and construction would be completed by Bayrock and the Sapir Organization. The Trump SoHo development was featured on Trump’s hit television show, The Apprentice, boosting its public profile.

The land purchased for the project was originally zoned for manufacturing, but Bayrock and the Sapir Organization were able to obtain approval for the design of the hotel-condo development with certain stipulations through negotiations with then-Democratic New York City Mayor Michael Bloomberg. The $450 million 46-story skyscraper was completed in 2010.

Tevfik Arif and Bayrock explored the possibility of expanding the licensing partnership with Trump in projects developed in the United States and other countries, however, none of these projects were pursued. Arif and Trump ended their business partnership with the downturn of the real estate market during the recession in 2008.

Tevfik Arif, while maintaining an advisory role, has largely retired from the day to day operations of his family’s business. His entrepreneurial success has allowed his family to expand their operations globally into several industrial sectors and real estate markets. Through equal parts ambition and perseverance, Arif has transformed himself from a young boy growing up in Soviet Kazakhstan to a savvy business leader with successful ventures across the globe.

Article Source:

https://baltimorepostexaminer.com/tevfik-arif-adva...d-michael-bloomberg/2019/05/16

When Tevfik Arif set his sights on the Manhattan real estate market, he made it a priority to develop important connections with business and political insiders to help him establish a foothold in the industry.

Tevfik Arif is an ambitious entrepreneur, industrialist, investor and property developer with a diverse background and experience working in various markets around the world. Arif, whose family is Turkish, was born in the Soviet Union Republic of Kazakhstan.

With a keen eye for people and business, he pursued a degree in international relations at a university in Moscow. Upon completing his degree, Arif began his career as a civil servant in the Soviet Union Government Ministry of Trade within the ministry’s food and hospitality department. For 17 years Arif served within the government agency as chief economist and deputy director, gaining extensive knowledge and understanding of the inner workings between business leaders and government officials.

When the Soviet Union collapsed in 1991, Arif left public service for the private sector. He started a private company, the Specialty Chemicals Trading Company, that dealt with the export-import of raw materials, primarily chrome and other rare metals. He continued to expand his interests in the mining and raw materials industry through advisory, managerial and ownership roles in several companies over the years.

With his experience and expertise in the hospitality industry gained serving in the Soviet government, Arif began investing and developing luxury hotels in Turkey, Bayrock - Tevfik Arif,Donald Trump including the Hotel Labada situated on the Mediterranean coast, now part of the Rixos chain of resorts.

Delivering Luxury to the New Politics York City Property Market

In 2001, Tevfik Arif ambitiously expanded his international luxury real estate ventures to the United States. He launched the company Bayrock Group and began investing in the New York City Tevfik Arif Bayrock property market.

After first investing in commercial and residential property developments in Brooklyn, such as theLoehmann’s Seaport Plaza in Sheepshead’s Bay, he quickly outgrew the borough and set his sights on the more prestigious real estate market of Manhattan.

To generate new opportunities and to ensure the success of his new business enterprise, Arif made it a priority to establish mutually beneficial relationships with leading businesspeople and influential politicians. He sought out industry insiders to help him learn the ins and out of the New York City market. He positioned himself within a circle of influential New York City real estate investors.

Arif took Bayrock straight to the heart of Manhattan real estate by establishing the offices of the firm on the 24thfloor of Trump Tower on Fifth Avenue. This was not a coincidence, but a strategic decision by Arif, as it positioned the firm’s office directly outside the elevators used by executives with offices on the upper floors of the building, including Donald Trump himself, who had to transfer elevators before going down to the street level.

Through his networking efforts, Tevfik Arif was able to establish a partnership between Bayrock and another prominent Manhattan real estate property development firm, the Sapir Organization, founded by Georgian immigrant and self-made billionaire Tamir Sapir. This profitable alliance would lead to the construction of a luxury project that would become the highlight of Bayrock’s development portfolio.

Tackling the US Bureaucratic Structure

The United States bureaucratic system presented additional challenges for Arif, who was familiar working within the bureaucratic structures governing markets in Kazakhstan, Turkey and Europe. Property developers are subject to numerous federal, state and local zoning and building regulations, with cumbersome legislation and bureaucratic requirements potentially hampering the progress of development and construction.

Throughout the construction process, developers are also required to obtain several permits issued by local government agencies. From his previous government and business experience, Arif understood the need to build useful relationships with influential politicians who could help break down barriers and expedite the bureaucratic process.

Arif created alliances with local and federal officials, who had influence over zoning laws and controlled agencies responsible for click here the approval of building permits. He also made political donations to Hillary Clinton, then the Democratic Senator of New York and later Democratic candidate for president, and Rudy Giuliani, former mayor of New York City and Republican candidate for president.

Supporting politicians of both across the political divide is a strategic move rather than an ideological one. In supporting several candidates, a business leader is able to initiate a positive relationship with government leadership regardless of which political party the elected candidate belongs to. Arif made it a priority to maintain strong alliances with those in power by regularly attending political banquets and events, raising his public profile and maintaining lines of communication with government leaders.

Trump SoHo and Beyond

Continuing Bayrock’s expansion, Arif’s company and the Sapir Organization initiated a joint venture to develop a luxury hotel and condominium complex located in a prime real estate district in lower Manhattan. To raise the profile of their development, the partners approached renowned real estate developer Donald Trump proposing a licensing and operating agreement in which he would lease his name to the project. The luxury project would become known as Trump SoHo.

Under the agreement, Trump did not invest his own capital in developing the building that would feature his name, rather all financing, development and construction would be completed by Bayrock and the Sapir Organization. The Trump SoHo development was featured on Trump’s hit television show, The Apprentice, boosting its public profile.

The land purchased for the project was originally zoned for manufacturing, but Bayrock and the Sapir Organization were able to obtain approval for the design of the hotel-condo development with certain stipulations Tevfik Arif through negotiations with then-Democratic New York City Mayor Michael Bloomberg. The $450 million 46-story skyscraper was completed in 2010.

Tevfik Arif and Bayrock explored the possibility of expanding the licensing partnership with Trump in projects developed in the United States and other countries, however, none of these projects were pursued. Arif and Trump ended their business partnership with the downturn of the real estate market during the recession in 2008.

Tevfik Arif, while maintaining an advisory role, has largely retired from the day to day operations of his family’s business. His entrepreneurial success has allowed his family to expand their operations globally into several industrial sectors and real estate markets. Through equal parts ambition and perseverance, Arif has transformed himself from a young boy growing up in Soviet Kazakhstan to a savvy business leader with successful ventures across the globe.

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https://baltimorepostexaminer.com/tevfik-arif-adva...d-michael-bloomberg/2019/05/16