Hey there,

First off - that's an amazing GMAT score! To your question, I think you should hold off until R1.

While there is some truth to the fact that reapplicants are accepted at a higher rate than normal admits, there is an extreme amount of bias in that sample. First of all, of those dinged in previous years, the ones reapplying feel they have a better chance. They've already applied once so that helps. The school is only reviewing the delta in their application so it's slightly different.

Your age, while a little bit on the higher side, will not be an issue with your profile for those schools. You have a lot of great things to talk about so what it will come down to is how you articulate those things.

If you want me to expand on anything or if you have any other questions, don't hesitate to reach out!

Bhavik