{"id":7617,"date":"2021-03-18T14:54:11","date_gmt":"2021-03-18T21:54:11","guid":{"rendered":"https:\/\/cannabisrealestateconsultants.com\/?page_id=7617"},"modified":"2024-02-26T10:48:17","modified_gmt":"2024-02-26T18:48:17","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: Opening<\/span><\/strong><\/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_text]<\/p>\n

Latest Updates for New York State Cannabis Regulations<\/h2>\n

Recent Update 2\/23\/24<\/strong><\/p>\n

In an important development for the cannabis industry in New York, the state’s Cannabis Control Board convened on February 16th, unveiling a series of significant measures aimed at propelling the legal cannabis market forward. During this pivotal meeting, the board took decisive steps to address the early challenges faced by the market and set a new course for the burgeoning industry.<\/p>\n

One of the most notable decisions was the approval of draft rules to permit the home cultivation of recreational marijuana. This landmark regulation marks a significant shift in the state’s approach to cannabis, offering residents the freedom to grow their plants for personal use. Under the proposed guidelines, adults are allowed to cultivate up to six plants, with a stipulation that no more than three can be mature at any given time. In households with multiple adults, this limit is expanded to a maximum of 12 plants. Furthermore, individuals may possess up to five pounds of marijuana harvested from their plants, subject to specific storage and odor remediation requirements to prevent any nuisance to neighbors. The approval of home cultivation regulations is set to undergo a 60-day public comment period before being finalized, with the new rules anticipated to take effect on April 17th, 2024.<\/p>\n

In a parallel move, the board ratified more than 110 new cannabis business licenses, a move aimed at rejuvenating the legal market’s somewhat “rocky start.” This latest batch of licenses is distinguished by its inclusion of the first non-conditional licenses, diverging from the state\u2019s previous Conditional Adult-Use Retail Dispensaries (CAURD) program. Unlike the CAURD program, which prioritized justice-involved individuals by setting specific eligibility criteria, these new licenses were open to a broader applicant pool, thereby expanding opportunities within the cannabis industry. The allocation of licenses was as follows:<\/p>\n