New York City opens third legal cannabis store

Cannabis retail locations are opening in the US’s largest city, while unlicensed locations thrive despite numerous efforts to close them. New York City opened its third legal adult-use cannabis store in Lower Manhattan on February 13.

The latest legal store to open is called Union Square Travel Agency: A Cannabis Store and will be located on East 13th Street between Broadway and University Place. The store will sell products such as smokeable flower, edibles, concentrates, and vapes, according to its website.

“We are building a cannabis industry here in New York State that is equitable and provides new resources for nonprofit organizations that support our communities,” Gov. Hochul said in a statement. “This is the latest milestone in our efforts to grow the industry while creating jobs and opportunities for those who have historically been disproportionately targeted by cannabis violations.”

It is the third legal cannabis store after nonprofit Housing Works opened ones on East 8th Street and Broadway, and Smacked LLC, a store that opened on Bleecker Street last month. The new branch management celebrated their opening during the governor’s announcement.

“We are incredibly grateful to everyone who helped open Union Square Travel Agency: A Cannabis Store. From our amazing partners at The Doe Fund who had the courage and innovation to seize this opportunity; to OCM, New York State and New York City for paving the way for this new industry and their continued commitment to ensure that this legal industry thrives; our amazing team members who have worked day and night to get us to this point; and our friends and family who have supported us in this endeavor from the beginning,” said Union Square Travel Agency: A Cannabis Store CEO Paul Yau. “Thank you all.”

The opening of the store is part of New York State’s Seeding Opportunity Initiative and helps advance the state’s goals for equity in cannabis licensing.

First to receive retail licenses in New York

The Union Square Travel Agency is also the third location of a Conditional Adult-Use Retail Dispensary (CAURD). The CAURD license is a “central pillar” of the New York State Seeding Opportunity Initiative. As part of this initiative, New York’s first legal retail pharmacies for adult use are operated by people hardest hit by the War on Drugs or by non-profit organizations whose services include support for formerly incarcerated.

To be eligible for a CAURD license, applicants must either have a cannabis conviction themselves or be a close relative of an individual who does and own or have owned a business that has made a net profit for at least two years.

Non-profit organizations are eligible for CAURD licenses if they also meet a number of conditions.

These dispensaries conduct legal adult sales of cannabis products grown by New York Farmers.

“The opening of this third Manhattan dispensary marks the latest milestone in the growth of New York State’s cannabis industry. These new locations offer local businesses the opportunity to continue to grow and build a dynamic market while capitalizing on the growing demand for safe, tested, and quality cannabis products. The possibilities for our emerging market are endless.”

The New York City Office of Cannabis Management (OCM) announced the final list of applicants to be granted the first round of retail cannabis licenses in the state. On November 20, 2022, 36 applicants were announced, selected from a pool of 903 applicants. All cannabis sold in New York is subject to a 13% sales tax.