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LEGAL POT IN NY

The boarded-up storefronts of New York may soon be looking at new tenants with a freshly legalized product to sell, marijuana.

Lawmakers in Albany struck an agreement with Gov. Andrew Cuomo to legalize recreational use of cannabis for adults, though first they need to write up the rules and that could easily take a year. (Don’t worry—the city will continue to smell of pot smoke before dispensaries open.)

Once weed shops do open, it’s likely New York will become one of the largest markets in the country; it's estimated that cannabis will be a $4.2b industry in the state.

The NY deal would allow pot delivery (do the creators of HBO’s High Maintenance feel like Nostradamus now?), alcohol-free smoking lounges and up to six plants at an individual’s home. (City apartments with rooftop gardens will undoubtedly seek rent spikes.)

A bill that would eliminate penalties for the possession of fewer than three ounces could pass the state legislature as soon as next week, The New York Times has reported. Wouldn't it be more appropriate to pass it in about three and a half weeks—on 4/20?

As the news broke, Washington Square Park dealers could be seen talking to realtors about their brick-and-mortar options.

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