NY Monthly Puff: Acquisitions, Conversions, and a New Zoning Fight
New York cannabis retail August 2026 brought a wave of consolidation, conversions, and courtroom action. Multi-state and upstate chains moved on Long Island footprints, a medical operator lined up an adult-use pivot in Farmingdale, a CAURD licensee opened in Brooklyn, and a Riverhead spacing rule landed back in front of a judge. The month leaned less on new sales records and more on who ends up controlling storefronts as the market matures.
Top Headlines This Month
- Canna Planet acquires all three Beleaf dispensary locations
- Grown Rogue closes initial PharmaCann New York asset deal
- The Botanist closes Farmingdale medical store for adult-use pivot
- Take N’ Toke opens CAURD dispensary in Brooklyn
- New lawsuit challenges Riverhead 2,500-foot spacing rule
- CannDev available real estate / Acquisition Opportunities
Long Island: Canna Planet Acquires All Three Beleaf Dispensary Locations
Canna Planet, an upstate New York cannabis retail chain led by CEO Parth Patel, has acquired all three Beleaf dispensary locations, including the Calverton store at 4462 Middle Country Road that opened in 2024. The Calverton location is Canna Planet’s first Long Island store, extending the company’s footprint beyond the Hudson Valley and Catskills, where it currently runs more than 11 locations with a flagship in Middletown. The full transition from Beleaf to Canna Planet is expected to complete sometime this fall. Under new ownership, the Calverton store will shift further toward a kiosk-based self-serve model with digital menus and interactive kiosks, though the existing product mix is not expected to change significantly. Canna Planet also plans to add an upgraded bud bar with a digital screen and direct-to-cart functionality and to expand community events alongside a customer loyalty program offering points for discounts, birthday perks, and other member benefits. Acquiring all three Beleaf locations at once gives Canna Planet an immediate multi-site presence on Long Island rather than a single-store entry into the market. The deal marks a meaningful geographic shift for a chain that has built its base entirely in upstate markets.
New York: Grown Rogue Closes Initial PharmaCann Asset Acquisition
On August 21, 2026, Grown Rogue International Inc. closed initial transactions to enter the New York cannabis market through the planned acquisition of PharmaCann Inc.’s New York license and assets. The company formed Grown Rogue New York, LLC as a 51/49 joint venture, with a capital partner contributing $10 million for a 49% preferred equity interest and committing an additional $5 million through a drawable term loan, bringing total financing commitments to up to $15 million against estimated project costs of approximately $12 million. The acquisition includes PharmaCann’s Hamptonburgh cultivation and manufacturing facility, which features approximately 24,000 square feet of indoor flower canopy and 16,000 square feet of light-deprivation greenhouse canopy, along with four Verilife-branded dispensaries: two adult-use and medical combination locations and two medical-only sites. Those four dispensaries averaged $1.7 to $2.0 million in aggregate monthly sales over the past eighteen months. The anticipated purchase price is approximately $4.5 million, with $3 million payable upon regulatory approval of the change of control. Definitive purchase agreements are expected within four weeks of the announcement. The deal gives Grown Rogue, a Medford, Oregon-based company, a vertically integrated foothold in New York at a relatively low acquisition cost. The company projects New York operations will reach after-tax operating cash flow positivity within nine months, subject to execution of definitive agreements and regulatory approvals, and anticipates reducing annual costs by approximately $20 million through savings to be implemented over the first six months of oversight.
Farmingdale: The Botanist Closes Medical Dispensary, Pursues Adult-Use Conversion
The Botanist, which has operated a medical cannabis dispensary in Farmingdale since March 2019, has temporarily closed its 2,856-square-foot facility at 2365 Broadhollow Road while pursuing a conversion to adult-use retail. NYCANNA LLC, an affiliate of The Botanist and its parent Acreage Holdings, received a change of zone from E Business to G Industry from the Town of Babylon on August 5, bringing the site into compliance with Babylon’s cannabis code, which restricts adult-use retail to industrial zones. The Botanist is not currently authorized to sell adult-use cannabis, and the OCM has no record of The Botanist or NYCANNA applying for an adult-use license. Under state rules, qualifying medical dispensary firms may co-locate up to three existing facilities to sell both medical and adult-use products, but each co-located store requires a $5 million licensing fee and Cannabis Control Board approval, along with a requirement to reopen closed medical locations. The sales gap between the two license types frames the pressure driving these conversions. Adult-use retail generated $1.5 billion statewide in the first 11 months of 2025 while medical dispensary sales totaled $95.5 million over the same period, according to the OCM. As of November 30, 2025, New York had 519 open adult-use retailers compared with 31 open medical dispensaries.
Brooklyn: Take N’ Toke Opens CAURD Dispensary on Atlantic Avenue
Neema Wiggins has opened Take N’ Toke, a licensed adult-use cannabis dispensary at 994 Atlantic Avenue in Brooklyn, through New York’s Conditional Adult-Use Retail Dispensary (CAURD) program. The program was created to place justice-involved entrepreneurs near the foundation of the state’s adult-use retail market, with initial individual eligibility requiring a qualifying marijuana-related conviction and experience owning a profitable business. Wiggins, who served a lengthy New York State prison sentence and returned home in 2017, initially pursued a former MedMen location on Fifth Avenue in Manhattan, where investors committed approximately $2.5 million before disputes over contractual terms and a proximity issue caused the deal to fall apart. He then secured 994 Atlantic Avenue at monthly rent of approximately $9,000, went through community board review and OCM meetings, and opened the store as a walk-in dispensary for adults 21 and older. New York extended provisional CAURD and adult-use retail licenses through December 31, 2026, giving remaining provisional holders additional time to secure viable locations and complete required steps. Take N’ Toke opens as New York’s legal cannabis market continues to expand. Combined adult-use and medical cannabis retail sales reached approximately $1.6 billion through November 2025, compared with about $1 billion for all of 2024, according to the OCM’s 2025 annual report. The store reflects both the access the CAURD program was designed to create and the capital and real estate obstacles that have slowed many CAURD licensees from reaching opening day.
Riverhead: New Lawsuit Challenges 2,500-Foot Dispensary Spacing Rule
On August 5, 1086 OCR LLC, Brian Stark Enterprises LLC, and Brian Stark filed a lawsuit in New York State Supreme Court in Suffolk County challenging a Riverhead Town Code provision requiring at least 2,500 feet between cannabis retail dispensaries. State regulations generally require only 1,000 feet between retail dispensaries in municipalities the size of Riverhead. The case centers on two competing state-approved dispensary locations: 1086 Old Country Road, where Brian Stark Enterprises holds an adult-use retail dispensary license, and 840 Old Country Road, where Large Leaf 618 LLC has state approval. The two sites are approximately 1,845 feet apart, placing them within state standards but inside Riverhead’s stricter local buffer. The same plaintiffs successfully challenged the town’s 1,000-foot school setback in earlier litigation, and on July 29 the Appellate Division, Second Department, affirmed that ruling, finding the setback preempted by state cannabis law under Cannabis Law Section 131. The new lawsuit argues the same preemption principles apply to the 2,500-foot spacing rule. The complaint also alleges the town has failed to process the plaintiffs’ updated permit applications submitted for the 1086 Old Country Road site in October 2025. A ruling that Riverhead’s 2,500-foot spacing requirement is preempted by state law would directly limit the town’s ability to block proximity-compliant, state-approved dispensary locations. Beyond Riverhead, how courts apply the Section 131 preemption doctrine to local spacing rules is relevant to any New York municipality that has adopted distance requirements stricter than the state baseline.
New York Real Estate / Acquisition Opportunities
Available Real Estate: Attach Your Retail License
- Yonkers — A license-ready site on a 12,000-car corridor in Westchester, the largest population reach in this group.
BDSA revenue prediction: $2,920,000/year (ranked #1 of 9).
Trade area: 2,991,826 people and $90,930 household income within a 20-minute drive. - Buffalo — A finished former-salon space on a high-traffic South Buffalo corridor with dedicated parking and limited nearby dispensary competition.
BDSA revenue prediction: $2,555,000/year (ranked #2 of 9).
Trade area: 820,501 people and $77,483 household income within a 20-minute drive. - Rochester — A compact, high-traffic site south of downtown with 16,000+ daily vehicles, priced for a lean footprint and strong revenue-per-square-foot.
BDSA revenue prediction: $2,190,000/year (ranked #3 of 9).
Trade area: 611,754 people and $104,711 household income within a 20-minute drive. - Poughkeepsie — A downtown storefront across from the Convention Center and DMV, drawing 16,000 daytime employees and steady foot traffic.
BDSA revenue prediction: $1,825,000/year (ranked #4 of 9).
Trade area: 226,419 people and $106,166 household income within a 20-minute drive. - Syracuse — A former operating dispensary with proven compliance history and highway visibility, the lowest-friction entry point into New York.
BDSA revenue prediction: $1,460,000/year (ranked #5 of 9).
Trade area: 348,702 people and $97,729 household income within a 20-minute drive. - Troy Deal 1 — The largest of the three Troy sites, built for co-located retail and manufacturing on a 14,000-car corridor.
BDSA revenue prediction: $1,095,000/year (ranked #6 of 9).
Trade area: 615,316 people and $94,223 household income within a 20-minute drive. - Troy Deal 2 — A standalone former auto-parts building with 46 parking spaces, the most accessible of the three Troy opportunities.
BDSA revenue prediction: $730,000/year (ranked #7 of 9).
Trade area: 521,573 people and $96,335 household income within a 20-minute drive. - Troy Deal 3 — A six-way corner site in an underserved pocket of North Troy with no dispensary within three-quarters of a mile.
BDSA revenue prediction: $730,000/year (ranked #8 of 9).
Trade area: 477,492 people and $92,803 household income within a 20-minute drive. - Staten Island — A compliance-ready site with 14 existing dispensaries already proving the market.
BDSA revenue prediction: $365,000/year (ranked #9 of 9).
Trade area: 1,431,670 people and $107,347 household income within a 20-minute drive.
To see more details check our deal room here: https://retail.cann.dev/NY
Acquisition Opportunities: Operating and Ready-to-Open Locations
- Chelsea, Manhattan, NY Asking: $6,000,000
Averaging $450K/mo in sales with revenues increasing consistently since opening
3,200 SF at $32,000/mo including NNN
Full financials available under NDA - Lower Manhattan, NY Asking: $11m full financials under NDA
Open 2 years, $10M+ in revenue over the last 12 months
$3,086,000 in EBITDA
1,700 SF at $25,000/mo - Park Slope, Brooklyn, NY Asking: $3,000,000
Open just over 12 months, generating $2.6M in gross revenue with increasing month-over-month sales
$850K in net profit over the last 12 months
2,000 SF on a 10+ year lease at $25,750/mo with 25,000 daily traffic count
Strong unit economics with revenue and profitability both trending in the right direction - Albany, NY — Downtown Asking: $2,400,000
Open and operating, 11 months in business with run rate revenue of $115K/mo and growing
Brand new Class A 1,700 SF buildout with an 11-car lot and drive-thru infrastructure ready to activate
No other dispensaries within half a mile, only 3 within a mile with significant market whitespace
46% gross margin, $160K+ net income across operating period with material EBITDA upside post-close
Absentee owned, 14-year NNN lease at $5,300/mo with strong upside for an owner-operator - Haverstraw, Rockland County, NY Asking: $1,750,000
Open since November, projecting $1.5M to $1.6M in total sales over the first 12 months with $160K in net sales last month
10%+ EBITDA, SE license fully transferable as of August 27
4,400 SF building at $12,000/mo including NNN, 28-car parking lot - Port Richmond, Staten Island, NY Asking: $950,000
Pre-opening dispensary delivered turnkey and ready to operate at closing
1,200 to 1,300 SF ground floor plus full basement with ample street parking
Lease at $8,000 to $9,000/mo, 4 to 6 weeks from opening
Projected to do $2.5m+ first year sales based on area competitors
The Bottom Line
August tightened the picture of who is building durable retail positions across New York cannabis. Chains are absorbing single-store licensees, medical firms are reworking sites for adult-use, and local zoning fights are shaping where dispensaries can actually operate. The New York cannabis market this month was defined less by new openings and more by ownership, conversion, and preemption.
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