Here "the gift" refers to God's freely erasing the record of our sins. AT: "The gift is not like the result of Adam's sin" (See: [[rc://en/ta/man/translate/figs-explicit]])
Here Paul gives two reasons why "the gift is not like the result of Adam's sin." The "judgment of condemnation" implies that we all deserve God's punishment for our sins. AT: "Because on the one hand, God declared that all people deserve to be punished because of the sin of one man, but on the other hand" (See: [[rc://en/ta/man/translate/figs-explicit]])
This refers to how God makes us right with him even when we do not deserve it. AT: "God's kind gift to put us right with himself" (See: [[rc://en/ta/man/translate/figs-explicit]])