Bayrock Group

Bayrock Group is a private real estate investment and development firm specializing in luxury residential, commercial and mixed use projects.

Through its affiliated entities, Bayrock has made investments in transactions comprising real estate assets valued in excess of $2.5 billion.

Bayrock located Russian investors and a potential site for the high-rise, a closed pencil factory named for Sacco and Vanzetti.

[10][3] In 2007, Bayrock traded future profits from Trump SoHo and other projects in exchange for $50 million in financing from Icelandic company FL Group.

[citation needed] Trump International Hotel & Residence investor Ernest Mennes filed a lawsuit in U.S. District Court in Arizona in 2007.

[15][17][18] Felix Sater, an American entrepreneurial financier and real estate developer, was employed as managing director of Bayrock Group from 2003 to 2008.

Sater was convicted of first degree assault and spent 15 months in minimum security Edgecombe Correctional Facility in New York City, before being paroled.

[19][20] Additionally, in 1998, Sater pleaded guilty to his involvement in a $40 million stock fraud scheme orchestrated by the Russian-Jewish Mafia, and became an informant for the FBI, assisting with organized crime investigations.