State-licensed weed dispensary opens near Times Square on 8th Ave
MANHATTAN, New York (WABC) -- A state-licensed cannabis dispensary opens for business on Thursday at Eight Avenue near 48th Street in Manhattan.
Nicklz, is supported by the New York Cannabis Social Equity Investment Fund, a public-private fund created to provide opportunities for justice-involved individuals who have received a Conditional Adult-Use Retail Dispensary (CAURD) license from the State Office of Cannabis Management.
The state-licensed cannabis shop will legally sell only state-approved and certified products.
The dispensary is owned by Nick Koury, who noted that the fund was instrumental in helping him get the dispensary business started and was emblematic of people who come from humble beginnings and worked hard to succeed.
Directly across the street from his licensed shop on Eight Avenue was an illegal weed dealer selling cheaper and unregulated marijuana products.
The illegal shops near Koury's legal shop are now closed down by police and padlocked under a new initiative to protect licensed cannabis sellers.
Dozens of illegal storefronts have been shut down in recent weeks. The owners and landlords were given stiff fines and penalties in order to protect the state's licensed dealers.
Koury hopes stores like his will change the whole perception of marijuana products.
The dispensary will carry a full variety of products that are tested to emphasize public health and safety for adult use.
A second fund-sponsored dispensary, NY Elite Cannabis, also is opening June 20 at 42-15 Bell Blvd, in Queens.
Governor Kathy Hochul says illegal shops got a head start in the market and there still may be as many as 3,000 illegal shops operating in New York.
"We're being flooded by the illegal operators who made it almost impossible for them to earn what they thought they would and keep their doors open - that era is over," Hochul said.
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