UPDATE: In a surprising twist, T&K Property Management has just filed a motion to reduce the financial damages awarded by a jury following their verdict on September 16, 2023. The jury concluded that T&K committed fraud and breached contracts with multiple buyers of the Great Northern Block condominiums in Fargo.
The total damages determined by the court amount to $893,784.29, but T&K claims this figure is “unreasonable” and is asking for a reduction of $279,830.21. This development is critical for the affected buyers, who had invested nearly $1 million in properties that remain unfinished and unoccupied.
The jury ruled in favor of buyers including the Erceg family, who were promised a completed unit for their daughters by the end of August 2023. Instead, they learned in fall 2023 that T&K intended to sell the unit to someone else, despite the Ercegs having already paid $200,000 for additional work. Another buyer, KLD Enterprises, was also left in limbo, facing significant tax liabilities due to T&K’s repeated delays.
The case, which began with civil filings in November 2023, has been riddled with complications, including counterclaims from T&K and multiple continuances. A judge even had to recuse himself during the proceedings. The plaintiffs, represented by attorneys from Fredrickson & Byron, have expressed their displeasure with T&K’s recent motion, calling it an attempt to undermine the jury’s decision and stating that the claims for damages were reasonable.
The emotional toll on buyers has been significant. For example, the Graybill family had entered an agreement for unit 506 at a price of $599,000, only to find the price increased by $70,000 when it came time to sign the purchase agreement. They felt misled and were left without a closing date while their unit was relisted for sale.
Legal experts are watching closely as the court prepares to rule on T&K’s request. The implications could set a precedent for similar cases involving real estate developers and consumer protection. The Great Northern Block website currently lists several units as available for sale, raising questions about the future of both the development and the buyers who have been left in the lurch.
As of now, it remains unclear when Judge Stephen McCullough will make a decision regarding the damages reduction request. The urgency of this situation continues to escalate, as both sides await clarity on the matter.
Stay tuned for the latest updates on this developing story that has captured the attention of the Fargo community and beyond.
