NYC’s first medical marijuana dispensary gets a Brooklyn outpost

The first dispensary in Brooklyn was opened last month

New York /
Jan.January 30, 2019 02:05 PM

Columbia Care CEO Nicholas Vita and 44 Court Street (Credit: Getty Images, Google Maps, and Wikipedia)

Columbia Care, the company that opened New York City’s first marijuana dispensary in early 2016, now has an outpost in Downtown Brooklyn.

The Columbia Care Rochester dispensary

The dispensary inked a 7,000-square-foot lease at the ground floor and lower level of 44 Court Street, according to a press release. Columbia was represented by Michael Dubin and Hector Rodriguez of Savitt Partners, who also represented the company for their first lease, at 212 East 14th Street in the East Village. In addition to in-person pharmacist consultations and dispensing services at the new site, Columbia Care will also be offering home delivery.

“As the medical cannabis industry has evolved, more and more communities have welcomed companies like Columbia Care that provide a vital service to patients,” said Rodriguez. “The Court Street space represents a first-of-its-kind facility in this neighborhood.”

The facility is, however, not the first of its kind in Brooklyn at large. That distinction goes to a Citiva dispensary which opened last month, at 202 Flatbush Ave near Barclays Center.

Founded by a pair of former Goldman Sachs executives, Columbia Care was part of the first batch of companies licensed to cultivate cannabis in New York state in 2015, along with Bloomfield Industries, Empire State Health Solutions, Etain LLC and PharmaCann LLC. Another batch of five companies, including Citiva, received licenses in 2017.

The Columbia Care Rochester dispensary

Despite the rapid growth of the cannabis industry nationwide, medical marijuana companies’ expansion in New York City has been hampered by high registration fees, geographic restrictions, and lack of access to financing.

Medical marijuana companies have had Brooklyn in their sights for years. Back in 2015, Long Island-based PalliaTech signed a lease for a possible dispensary at 425 Fulton Street in Downtown Brooklyn. That lease was contingent on the company being among the state’s first batch of licensees, which did not happen. The company was eventually licensed in 2017, changed its name to Curaleaf, and now operates dispensaries in Forest Hills, Queens, and on Long Island.

Westchester-based Valley Agriceuticals has also announced plans to open a Brooklyn dispensary in the near future. Valley was acquired by publicly-traded cannabis operator iAnthus Capital in 2017 for $17.3 million.

Columbia Care is currently licensed to operate in 12 U.S. states, as well as Washington D.C. and Puerto Rico. The company also became the first U.S. marijuana company to be licensed in Europe when it received a license to operate in Malta in November.


Related Articles

arrow_forward_ios
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
Empire Capital Holdings' Josh Rahmani, Hakimian Capital's Michael Hakimian, RXR's Scott Rechler and 1330 6th Avenue (Getty, Hakimian Capital, Empire Capital Holdings, 1330aofa.com)
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Urban Commons' Salvatore G. Takoushian with Wagner at the Battery
Urban Commons puts FiDi hotel into bankruptcy
Urban Commons puts FiDi hotel into bankruptcy
30 Front Street and 593 11th Street (StreetEasy, Google Maps)
In election week, Olympia Dumbo emerges as winner
In election week, Olympia Dumbo emerges as winner
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...