{"id":7617,"date":"2021-03-18T14:54:11","date_gmt":"2021-03-18T21:54:11","guid":{"rendered":"https:\/\/cannabisrealestateconsultants.com\/?page_id=7617"},"modified":"2024-10-21T14:51:43","modified_gmt":"2024-10-21T21:51:43","slug":"new-york-real-estate","status":"publish","type":"page","link":"https:\/\/cannabisrealestateconsultants.com\/new-york-real-estate\/","title":{"rendered":"New York Real Estate & Cannabis Regulations"},"content":{"rendered":"

[vc_row][vc_column width=”1\/2″][vc_column_text]Cannabis Status: Pending<\/span><\/strong><\/p>\n

New York is working on a review of its internal processes to clear the existing backlog of applications and streamline the application process for future rounds.<\/span><\/p>\n

The New York market will offer amazing opportunities for cannabis operators, with some of the most densely populated urban centers in the country. In addition the New York City area is one of the most popular tourist destinations in the country, with approximately 65 million tourists a year visiting the one city alone. Read on for more information on the upcoming cannabis regulations in New York and find out how you can tap into this lucrative market!<\/p>\n

Name:<\/strong> New York
\nPopulation:<\/strong> 8,419,000
\nMedian Income:<\/strong> $63,998<\/span>
\nCannabis Uses: <\/strong>Retail, Delivery, Cultivation, Distribution, Nursery, On-Site Consumption, Processor, Testing Lab, Small Business Adult-Use Cooperative, Microbusiness
\nState Cannabis Overview:<\/strong>New York has officially opened its doors to adult-use cannabis businesses, marking a significant milestone in the state’s journey towards a fully legalized cannabis market. The Office of Cannabis Management (OCM) has commenced the issuance of licenses, signaling a robust effort to foster the growth and development of the cannabis industry within the state. This development follows a series of regulatory advancements and the establishment of a comprehensive framework to oversee the cultivation, distribution, and sale of cannabis for adult use. The OCM is also dedicated to addressing the backlog of existing applications, with a commitment to processing these on an ongoing basis.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_raw_html]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[\/vc_raw_html][vc_btn title=”View New York Cannabis Real Estate Properties” style=”custom” custom_background=”#02723b” custom_text=”#ffffff” size=”lg” align=”center” i_icon_fontawesome=”fas fa-warehouse” button_block=”true” add_icon=”true” link=”url:%23properties|||”][\/vc_column][\/vc_row][vc_row][vc_column width=”2\/3″][\/vc_column][vc_column width=”1\/3″][vc_single_image image=”7619″ img_size=”medium” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator color=”custom” border_width=”2″ accent_color=”#f0bb0b” css=”.vc_custom_1585940601511{padding-top: 10px !important;padding-bottom: 10px !important;}”][\/vc_column][\/vc_row][vc_row][vc_column][vc_single_image image=”7618″ img_size=”full” alignment=”center”][vc_custom_heading text=”New York Cannabis & Commercial Real Estate Research” use_theme_fonts=”yes” el_class=”regAccordHeading”][\/vc_column][\/vc_row][vc_row][vc_column][vc_tta_accordion active_section=”1″ no_fill=”true” collapsible_all=”true” el_class=”cityRegsAccordian”][vc_tta_section title=”Latest New York Cannabis Licensing Updates” tab_id=”1585940043209-bf936cb7-15a9″][vc_column_text]Recent Update 10\/21\/24<\/strong><\/p>\n

Current Status of Applications<\/b><\/p>\n

The report also provided us with a current count of the number of applications accepted, denied, and pending for each license type. As of September 15, 2024, a total of 8,414 adult-use cannabis license applications were submitted across various license types. A total of 1,342 licenses have been issued, with 362 provisionally approved, 1,012 applications denied, and 5,698 applications still pending.<\/div>\n

Here is the breakdown by license type:<\/p>\n