A cannabis retailer is eyeing the vacant store at 9 West St. next to Red Bank Liquors in the midst of a borough debate on whether or not to further restrict cannabis businesses.
The company, Canopy Crossroad LLC, is headed by the couple Andy Zeitlin, a chemist who was a founding member of the pharmaceutical company Celgene Corp., and Caryn Cohen, a marketing executive who has a medical marijuana card.
New store would be a 'microbusiness'
The proposed business received state approval for a conditional license in October 2022. The proposed store would be considered a microbusiness with fewer than 10 employees on the payroll for the first year. Zeitlin said his family and the other couples associated with the business are all New Jersey residents.
“Cannabis is an extremely competitive business,” Zeitlin said. “Most of the practitioners in the field come from legacy states that have approved (cannabis) already, being California, Colorado, Washington, Nevada. And in general, it’s very difficult to get started into this business if there wasn’t a category for a microbusiness.”