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["32 Glenwood Avenue — Market Comparable Summary"]
["Journal Square, Jersey City  |  2BR New Construction & Boutique Condos  |  MLS Data 2022–2026"]
[]
["Avg Sold PPSF\n(ex. ceiling)","Avg UC PPSF","Luxury Ceiling","Active Ask PPSF","Avg Sold Price","Avg Sold SF","Avg Days on Market","Comp Date Range"]
["$617/SF","$703/SF","$674–$810/SF","$647/SF","$637K","1,033 SF","15 days","2022–2026"]
["11 sold comps","2 under contract","650 Montgomery premium","1 active listing","2BR excl. ceiling","per sold unit","3 comps w/ DOM data","JSQ submarket"]
[]
["PPSF BY COMP GROUP"]
["Comp Group","Avg PPSF","Min PPSF","Max PPSF","# Comps","Avg Price","Period"]
["348 Baldwin Ave — SOLD 2022","$633","$571","$736",5,"$691,000","2022"]
["35 Orchard St — SOLD 2025/26","$594","$569","$610",3,"$552,667","2025–2026"]
["131 Clifton / 936 Pavonia — SOLD 2025/26","$615","$593","$650",3,"$632,667","2025–2026"]
["348 Baldwin #209 — UNDER CONTRACT 2026","$731","$731","$731",1,"$760,000","Apr 2026"]
["35 Orchard #802 — ACTIVE ASK 2026","$647","$647","$647",1,"$659,000","2026"]
["650 Montgomery #505 — UC 2026 (CEILING)","$674","$674","$674",1,"$949,000","Apr 2026"]
["650 Montgomery #504 — SOLD 2025 (CEILING)","$810","$810","$810",1,"$1,050,000","Feb 2025"]
[]
["32 GLENWOOD — PRICING SCENARIOS VS. COMP SET"]
["Scenario","PPSF","Unit B","Unit A","Unit C (Duplex)","Unit D","Sellout"]
["Conservative","$630/SF",650000,715050,723240,752850,9918080]
["Middle","$650/SF",699000,737750,746200,776750,10346400]
["Aggressive","$670/SF",699000,760450,769160,800650,10578720]
[]
["POSITIONING NARRATIVE: 32 Glenwood's pricing scenarios sit between the current JSQ boutique sold avg ($593–$650/SF) and the luxury ceiling established by 650 Montgomery ($674–$810/SF). No current sold comp includes deeded parking — Glenwood's 10 deeded spaces represent unpriced value that supports a premium above the no-parking comp set. The market has recovered 20% from its 2023 trough and is still 13% below the 2022 peak, creating a favorable entry window for a developer acquiring at today's land price with delivery into a strengthening 2026-2027 market."]

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["32 Glenwood Avenue — Comparable Sales Detail"]
["2BR MLS Comps  |  Journal Square, Jersey City  |  Source: Paragon MLS  |  2022–2026"]
["SOLD","UNDER CONTRACT","ACTIVE","CEILING COMP"]
["Address / Building","Beds","SF","Date","Price","PPSF","DOM","Status","Notes"]
["348 Baldwin Ave #207 — Hilltop @ JSQ","2BR/2BA",1077,"May 2022",620000,576.21,"—","SOLD","New construction JSQ — 2022 market"]
["348 Baldwin Ave #405 — Hilltop @ JSQ","2BR/2BA",1139,"May 2022",650000,570.6799999999999,"—","SOLD","New construction JSQ — 2022 market"]
["348 Baldwin Ave #505 — Hilltop @ JSQ","2BR/2BA",1139,"May 2022",693000,608.4299999999999,"—","SOLD","New construction JSQ — mid-floor"]
["348 Baldwin Ave #409 — Hilltop @ JSQ","2BR/2BA",1040,"Jun 2022",700000,673.08,"—","SOLD","New construction JSQ — view units"]
["348 Baldwin Ave #507 — Hilltop @ JSQ","2BR/2BA",1076,"May 2022",792000,736.0599999999999,"—","SOLD","New construction JSQ — top tier, views"]
["348 Baldwin Ave #209 — Hilltop @ JSQ","2BR/2BA",1040,"Apr 2026",760000,730.77,"—","UNDER CONTRACT","Same unit relisted 2026 — confirms $731/SF in current market; better location than Glenwood"]
["35 Orchard St #304 — The Orchard","2BR/2BA",931,"Nov 2025",530000,569.28,"—","SOLD","Boutique JSQ — no parking"]
["35 Orchard St #504 — The Orchard","2BR/2BA",931,"Apr 2026",560000,601.5,"—","SOLD","Boutique JSQ — no parking"]
["35 Orchard St #704 — The Orchard","2BR/2BA",931,"Nov 2025",568000,610.1,"—","SOLD","Higher floor premium — no parking"]
["35 Orchard St #802 — The Orchard","2BR/2BA",1020,"Active 2026",659000,646.71,"—","ACTIVE","Current ask — not yet sold"]
["131 Clifton Pl — Boutique JSQ","2BR/2BA",1161,"Feb 2025",699000,602.0700000000001,7,"SOLD","2BR/2BA — 7 DOM, fast absorption"]
["131 Clifton Pl — Boutique JSQ","2BR/1BA",861,"May 2025",560000,650.41,28,"SOLD","2BR/1BA — highest current PPSF on sold basis"]
["936 Pavonia Ave — Boutique JSQ","2BR/2BA",1077,"Apr 2026",639000,593.3099999999999,10,"SOLD","2BR/2BA — 10 DOM, current market"]
["650 Montgomery St #505 — Converted Warehouse JSQ","2BR/2BA",1407,"Apr 2026",949000,674.48,"—","UNDER CONTRACT","CEILING COMP — largest unit, luxury finish; $674/SF confirms premium buyer appetite in JSQ today"]
["650 Montgomery St #504 — Converted Warehouse JSQ","2BR/2BA",1296,"Feb 2025",1050000,810.1900000000001,"—","SOLD","CEILING COMP — penthouse/top floor luxury finish; $810/SF = highest achieved in JSQ submarket"]
[]
["PPSF SUMMARY"]
["Category","Avg PPSF","Min","Max","# Units","Avg Price","Notes"]
["Sold — standard (ex. ceiling)","$617","$569","$736",11,"$637,364","All current-market sold comps excl. luxury ceiling units"]
["Under contract — all","$703","$674","$731",2,"$854,500","Includes 650 Montgomery ceiling UC"]
["Active asking","$647","$647","$647",1,"$659,000","35 Orchard #802 — not yet transacted"]
["Ceiling comps (650 Montgomery)","$742","$674","$810",2,"$999,500","Premium/penthouse units — luxury execution ceiling for JSQ"]