1st Reading - Jersey City

Portion olPJP Landfl1 Site, jersey City New JerseyReconciliation andEstimate' of ValueThe Sales 'Comparison Approach measures a~tual transactions made by buyers andsellers in the marketplace. As such, it is the most direct means of testing the, market. If properties with a reasonable degree of comparability have sold rece,ntly,as was the case with respect to the subject property, it is the method of valuationleast'susceptible to errors of distortion. Thus,Sales Comparison Approach in this case.,considerable weight is given totlIeIn conclusion, after careful consideration of all pertinent data affecting the valueof the,subjectproperty including its location, type and present use, and rentals,sales and asking prices of comparable properties, it is my opinion that the marketvalue of the subject property, as of November 1, 2008 w;is:'Twelve Millon Six Hundred Eighty T-io Thousand Dollars$12,682,000/'VALUE REEARCH GROUP, LLC 34