New York Real Estate and Cannabis – Part 2

So you’re interested in applying for an adult-use cannabis license once the Cannabis Control Board (CCB) issues the license application. One of the first decisions an applicant needs to make is where they intend to operate. As we referenced in our earlier posts on the Marijuana Regulation and Taxation Act (MRTA) and Part 1 of this series, applicants will need to demonstrate that they either own or are under contract to possess (by lease or management agreement) the physical location in which the applicant will operate for the entirety of the applicant’s initial 2 year license.

After identifying the target license type (which should be the first step for any adult-use cannabis applicant), there are a lot of real estate related issues that an applicant needs to be mindful of, regardless of whether they are buying or leasing property. These are some considerations and practical steps applicants should start thinking about/taking now.

Location, Location, Location

After deciding on a license type, applicants really need to think about where they want to operate. Given the MRTA’s local opt-out provision, location choice is particularly relevant for retail dispensary and on-site consumption applicants. Similarly, production side applicants (cultivation and processing) should probably avoid

Read More Here...