Based on the regulations and the answers in the states FAQ’s we understand it’s viable to stack properties with multiple applicants. Since it’s essentially a lottery process, based on randomizing the applications submitted, we feel this will give groups that work with us more chances to win a retail license.
CannDev has several locations (more than a dozen so far, with more to come) that can be used for an application, and wants to work with groups that want to minimize the fee structure and maximize the chances of getting a license.
New York will be one of the largest cannabis markets in the world. The state has about 20 million population and over 65 million visitors a year! This market has been slow to kick off due to many illegal shops and problems at the regulatory level. However, with the recent changes at the regulatory level and this next round of applications, it seems that the process is finally opening up. In addition, there are many great markets outside of the 5 boroughs that have tremendous potential because there are no illegal stores there and they are close to state lines.
CannDev plans to stack their locations with multiple applicants to offer groups more lottery tickets for a chance to win a license at a lower cost.
So what is the offer?
- 5-9 locations secured = $1,000 /month per location
- 10+ locations = $500 /month per location
- 50% holding deposit discounts apply to the first 5 groups that work with us! Which means tens of thousands in savings for the groups moving the quickest.
- If a location wins a license we are going to assign the rights for either: 1. $120,000, paid after a license is won. Or, 2. $2,000 per month for the life of the business. It’s your choice which option works best for you.
- Note: There are a few locations that are purchases which CannDev will buy, and lease back to an operator if they secure a license.
The deadline of Nov 17 is coming up fast. Now is the time to be aggressive on your real estate and get organized.