Major League Baseball’s Opening Day this year coincided with the opening of Queens’ first legal recreational marijuana shop.
Good Grades is operating the space with the New York State Cannabis Social Equity Fund, an investment group tasked with leasing space on behalf of state marijuana sellers, the Commercial Observer reported.
The equity fund signed a 10-year, 4,000-square-foot lease at 162-03 Jamaica Avenue in the Jamaica neighborhood. The space was found by DASNY and Good Grades will operate as a pop-up, although for how long is unclear — the outlet will need to close temporarily to complete storefront construction.
Good Grades is the city’s fourth recreational dispensary, but has the unique distinction of being the first legal pot shop in the state to be owned by a woman, Extasy James.
The building is owned by a limited liability company and managed by Hazen Management. Asking rent and brokers involved in the deal were not disclosed.
Legal dispensaries have been slow to emerge since December, when the Manocherian Brothers’ 750 Broadway in Noho hosted the first legal high in the city. Nonprofit Housing Works is operating the 7,400-square-foot space, where the asking rent was $200 per square foot.
As cannabis becomes legal in more states, industry players hoping to set up shop are running into an unofficial “green tax” by owners and landlords, along with more zoning and land-use regulations.
The city is facing a crackdown geared towards removing unlicensed marijuana dealers, who proliferated as lax enforcement of the laws took hold. Last month, the city filed lawsuits against several East Village smoke shops and their landlords, asking a judge to shut them down and levy fines.
Letters warning of eviction were also sent to more than 400 smoke shops in Manhattan over illegal marijuana sales. Gov. Kathy Hochul has proposed fining sellers possessing illegal marijuana as much as $200,000.
— Holden Walter-Warner
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