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Mr. Sapperstein's value of $45,000 a lot because it was derived
from his analysis using a dollar-a-lot comparison and not from a
calculation derivative of a dollar-an-acre comparison, i.e.,
Mr. Lipman's dollar-a-lot value.
We shall now address the principal point of contention
between the parties, the lot yield of the land. Based on the
Benning report, Mr. Sapperstein assumes that the land could be
developed into either 15 or 16 residential lots. Mr. Benning is
of the opinion that, if the land were developed in conjunction
with either or both of the adjacent tracts of land (the Barnes
tract and the Mullinix tract), certain land exchanges would be
undertaken that would increase lot yield and other efficiencies
would be obtained, which would allow 16 lots to be developed on
the land. In the absence of such joint development, Mr. Benning
is of the opinion that only 15 lots could be developed on the
land. Mr. Lipman opined that 12 lots could be developed on the
land, but stated that the effective lot yield of the land is
13 lots (including the lot underlying the improvement).
In determining both the highest and best use of a parcel of
land and the fair market value of the parcel resulting from such
use, the use of the parcel in conjunction with other parcels may
6(...continued)
petitioners' retention of rights with respect to the lot
underlying the improvements would properly be reflected in the
after value of the land.
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