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According to Forbes, Bayrock is "a series of commonly controlled, but not wholly owned, limited liability companies." [1] Bayrock Group is arranged in tiers, with Bayrock Group LLC having a majority or plurality interest in around 12 subsidiary holding companies. The holding companies in turn have majority interests in companies on lower tiers.
Felix Henry Sater / ˈ s eɪ t ər / (born Felix Mikhailovich Sheferovsky; [4] [5] Russian: Фе́ликс Миха́йлович Шеферовский; March 2, 1966) is a Russian-American mobster, convicted felon, [6] real estate developer and former managing director of Bayrock Group LLC, [7] a real estate conglomerate based out of New York City.
In 2001, Arif founded the Bayrock Group, an international real estate and development company. He began developing property in Brooklyn, first redeveloping Loehmann's Seaport Plaza, a waterfront shopping center in Sheepshead Bay. [17] Arif was originally the sole employee of Bayrock, later hiring Felix Sater as managing director. [10]
Bayrock Group ultimately sold its interest in the project to an Icelandic firm. [18] In May 2009, investors were informed that they had to complete their unit purchases that month. The developer, known then as SB Hotel Associates LLC, stated that the project would likely remain unfinished if less than half of the units were purchased.
Felix Sater (1966–), Russian-American developer, former COO of the Bayrock Group [137] [138] Joel Schreiber, British-born NYC developer, founder of Waterbridge Capital, and early investor in WeWork [139] Rubin Schron (1938–), NYC investor and landlord, founder of Cammeby's International Group [10]
2005: Trump gives Bayrock Group an exclusive deal to build a Trump-branded property in Moscow. [35] 2006: At Donald Trump's request, Sater accompanies Ivanka Trump and Donald Trump Jr. on a Moscow trip, and arranges for Ivanka to sit in Putin's office chair during a tour of the Kremlin. [2] [34]: 17
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Bayrock may refer to: Bayrock (radio station), a radio station in New Zealand; Bayrock Group, an international real estate development and investment company based in New York; Bay Rock Light, an inactive lighthouse relocated from an island off Townsville, Australia