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in December 1989 for $1,200,000. The improvements were
demolished thereafter.
Mansbach determined that the 1984 purchase price of the
Laurel Theater equated to $44.29 per square foot of building area
and $27.92 per square foot of site area. He further determined
that the 1989 purchase price of the Laurel Theater equated to
$68.57 per square foot of building area and $43.23 per square
foot of site area. Mansbach did not provide per seat prices for
the two sales of the Laurel Theater.
Mansbach determined that the $2,010,000 purchase price of
the San Jose Fox in 1985 equated to $1,300 (rounded) per seat,
based on 1,538 "planned" seats, and $82.50 per square foot of
building area. Because the San Jose Fox did not have any seats
installed when it was sold, Mansbach estimated it would cost
between $600,000 to $700,000 to install seats and carpeting in
the San Jose Fox.
For the Circle Star Theater, Mansbach determined the 1987
purchase price equated to $1,743 per seat based on the 3,700
seats in the theater, $88.36 per square foot of building area,
and $17.08 per square foot of site area.
With respect to Jacobs' purchase of the Redwood City Fox in
May 1981, Mansbach determined that the purchase price equated to
$1,336 per seat based on 756 seats, $24.85 per square foot of
rentable building area, and $37.99 per square foot of site area.
Mansbach next added the $829,415 expended by Jacobs for
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