Knowledge of the law is a powerful tool. Our entire country is founded on the rule of law. There are many days I wonder about our reliance on the courts and the slew of laws that exist, or shouldn’t exist.

I have always believed that nothing is standard as long as you have a legal document backing it up. For instance, in the startup world, there are standard documents that many use to attract investor capital. Some are good, some are not so good. For instance, I have never been a fan of a SAFE document. It is fast and off-the-shelf, with the possibility of high risk down the line. I get why people use them, but spending time understanding what is being asked and what the legal language means can be educational and possibly lead to a better outcome. It is almost impossible to roll back documents that create the foundation of a company.

Why did people turn to SAFE documents? Plain and simple, cost. The cost of law is outrageous unless, of course, you are a Fortune 500 company. Top lawyers can cost up to $3k an hour, and that does not guarantee they give solid advice.

We recently ended a lawsuit that began over eight years ago. Our contractor died, leaving us with an absolute mess to clean up. We hired someone else to finish the project. We were happy to pay the old contractor (someone else took over the company) a cash sum for the job done, but not for the job that had to be fixed. We went through the documents and offered the sum we felt was legit. They sued, and after eight years of lawyers, depositions, pulling records, and everything else that goes with a lawsuit, it was settled for the exact price we had offered eight years ago. The only financial winners here were the lawyers.

The amount of cash Gotham has spent on lawyers since we opened is substantial. Navigating the industry’s legal landscape and addressing numerous issues has been expensive. The only people making money in this industry seem to be the lawyers. In an industry that is nascent, where the majority of owners, be it a dispensary, a farm, or a brand, are barely holding on by the seat of their pants. The majority cannot afford lawyers, lobbyists, and everything else required to secure a seat at the table to take an industry seriously. Unfortunately, that is how the system has been set up.

I appreciate everything our legal team has done for us, but as we build our legal agent, which will have access to every single document the company has, I do wonder what legal firms will look like in the next five years. When corporate America, particularly publicly traded companies, can afford the cost, how do the rest of us have representation? Should there be fines for bringing absurd filings to the table? Is the system just rigged for those who can pay for proper representation? Can law be disrupted? Perhaps AI will pave a new way, but I am not convinced.

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On the corner of 22nd and 7th Avenue sat a bustling coffee shop, and then one morning it stood closed. I know because we lived on the block of 22nd between 7th and 8th Avenue for a few years. The ground floor, including the apartments above, sat empty for almost the past 20 years.

Then this past week, the building went up in flames. Almost 200 firefighters and EMS personnel showed up to control the fire. Buildings next door had to be evacuated. Now, of course, there will be an investigation, and the eyesore will stand for god knows how long. This should not happen.

There needs to be a law that fines owners who leave their buildings vacant for more than twelve months. There are countless empty storefronts throughout NY that sit idle because landlords don’t care that the market-bearing price doesn’t meet their expectations. There are two across the street from Gotham in Chelsea that have sat empty for some time, which says to me that the price is too high.

I am a fan of the new annual pied-a-terre tax that Mamdani and Hochul are working on. They are proposing that if you own a home valued at more than $5m that is your secondary residence, you should have to pay taxes on it. This counters the 180-day rule used by many secondary homeowners in Florida to avoid paying NYS taxes, while spending the other six months of the year enjoying all that the city or other areas in NYS offer.

I recently spoke with someone who owns several buildings that serve low- and middle-income renters through RAD/PACT (Rental Assistance Demonstration/Permanent Affordability Commitment Together), which allows private management of public housing. There are countless buildings with empty apartments because it takes the city eighteen months to process the applications for each unit. Eighteen months! Why don’t they build an agent that can process applications immediately and place people quickly, knowing which spots are vacant?

It is time for major shifts in the real estate world of NY with the inclusion of embracing technology to help navigate the pieds-a-terre, empty buildings, and the reality of the market.

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We now all know that cannabis was framed by the government as a horrific drug that anyone who used it should be thrown in jail. What we now know is that the whole narrative was a ruse to keep Black and brown people in jail. People in government, particularly those of a certain age and conservative nature, are still aghast that people partake in the plant, the reality of what is starting to come to the surface is just the beginning.

In 1964, researchers at Hebrew University (Israel has never stopped researching cannabis) isolated THC, which began the understanding of how cannabis interacts with the body. By 1992, researchers discovered that anandamide is a naturally occurring cannabinoid in the human body. This started to explain why cannabis has such a wide range of medicinal qualities, from sleep to pain. Essentially our bodies are wired for cannabis.

What is incredible is that doctors, except for a few brave ones, ignored all of this for decades because cannabis is not federally legal. The questions we should all be asking are how cannabis helps me? Is it a medicine for cures or wellness?

Whereas alcohol can be an impairment, cannabis positively interacts with our bodies. Is there a particular gummy that could help with a nasty cold or headache? Is there a certain flower that relaxes the body and alleviates pain or stress? More research will tell us, and the future will tell us the reality of this plant.

The government still believes the narrative put forth that cannabis is bad, or it wouldn’t have created the overwhelming regulation and laws from the onset of the state-by-state legalization of cannabis. States have realized the economic and tax benefits, so we will see another seven states legally sell the plant this year. That will put the number of states selling the plant at almost 50, and it is still not federally legal.

The industry doesn’t have the money to spend on lawyers and lobbyists to push these reforms through. Who is going to be the leader in reform?

And of course, a Happy 4/20 to all.

The post The Importance of Cannabis…and Happy 4/20 appeared first on Gotham Gal.

I used to believe in the importance of Government oversight, and I still want to, although with the blatant corruption happening these days, it is really hard to believe anything. I have never liked bureaucracy and red tape. It makes no sense to me, and it frustrates the hell out of me. Hence, why I could never work for somebody.

In the world of cannabis, we have heavy regulation, and the bureaucracy seems to have taken a page out of the book on how to build red tape in a Government office. It is unfortunate, as the opportunity was certainly there, since there was no Office of Cannabis Management (OCM) five years ago.

I applaud what has been accomplished, but I’m frustrated by the way the industry has been legalized through a new government arm. In many states, we are starting to see regulatory overhaul, but some of the fundamental decisions made from the start will be very difficult to change. Cannabis is an economic driver, and NYS did not get the proper oversight from the Governor’s office. The legal base was built by groups of people trying to take their piece of the pie without thinking about how businesses are built, aka, hire more people and bring in more taxes.

Five years from now, a lot will have changed in this industry. Being early may have been the right call, but the cost of being early will continue to rise until the system works better. Liquor works with ease in NYS. How come they couldn’t just follow those rules?

The post Regulation and Bureaucracy…two words nobody likes to hear. appeared first on Gotham Gal.

There are countless things I love about NYC. So much to do, not enough time. The streets are humming late at night or early in the morning. There are activities for everyone based on what rocks their boat. Gotham had a Poetry Reading at our Chelsea location, and 50 people came. I love it.

The last two weeks have been busy. We had dinner at the Grill to celebrate the birthday of one of our oldest and dearest friend. There is something that makes my heart sing walking up the steps into the Grill’s room. There is nothing else like it.

We went to see Giant. John Lithgow plays the children’s book writer, Roald Dahl. It is the type of theater that I love. Dahl’s career is incredible; he was also childlike and egotistical, and he calls himself an anti-Semite. Watching this play today defines how history repeats itself. I am still thinking about it.

It is the end of the Knicks season as they move into the playoffs, so a few games are always in order for the fam. I am last on the family totem pole for the games, but it is always fun.

Happened to be doing something in Astoria, the best spot for Greek food, and had a quick bite at Gregory’s 26 Corner Taverna. Greek salad and grilled calamari were the perfect order. Such a great spot.

Had a nibble at Deans, the latest spot from Jess Shadbolt and Annie Shi, for British pub food. The Scottish egg is perfect. Definitely going back.

We went to see the AI Documentary: Or How I Became An Apocaloptimist. There was nothing I didn’t know, but the film laid out pros, the cons, and all of them mixed together. Daniel Roher, the filmmaker, who is about to become a father, explores what it means to bring a child into this world right now. Roher and Charlie Tyrell put together the best and brightest to interview, and hearing their takes is worth it. AI is here, whether you want to embrace it or not. The question is, how will this change the world?

Blackbird, if you don’t have it, get it. You can pay with Blackbird, so you don’t have to wait for someone to check you out. Restaurants also pay a much smaller fee than Amex and Visa, so you are helping your local spot. The margins in this business are slim, so a few more points can make the difference for the month. Blackbird has rewards, and you can pay using cryptocurrencies. There are multiple community perks, which I went to this past week. Dinner at Cleo, a new spot in the hood, on the first night for friends and family. NYers love that!

A friend of ours produced Lost in Del Valle, a true story of sex, drugs, rock ‘n’ roll, and redemption. A 65-minute play based on the true story of a Texas actor who finds himself in jail. The story of his roles in theater, movies, TV, living in the Chelsea Hotel, hanging with Syd and Nancy, and his unfortunate addiction to heroin. Ned Van Zandt, whose life this is based on, plays every single character. He is brilliant. The tales of yore are so completely different than today’s generation. Absolutely worth going, it is at the Soho Playhouse (an oldie and goodie) through May 3rd.

We had dinner again at Kiko, our new fave on rotation. The food is creative and absolutely delish.

Another week ahead, where I need to get uptown to see the Klee and Duchamp exhibits, so much to do.

(A lack of pictures here due to uploading issues)

The post NYC Life appeared first on Gotham Gal.

I do realize that when many read this, they would say “no shit”, but I want to believe that people, like myself, realize that change is how we move forward, how we must evolve because the world is constantly changing, and of course, money should always be trying to be put to efficient use. I continue to be amazed by the government.

The Public Housing Community Fund is closely tied to the Mamdani administration and NYCHA, as we are a nonprofit focused on building a stronger, more equitable New York City by investing in public housing communities, and based on data, that is 17% of New Yorkers. It is probably more. FYI, we have nothing to do with the buildings.

What makes our organization interesting, beyond the impact we make, is that we are lean, execute quickly, keep and use data, and continue to make a difference. When you look at the impact we are making for NYCHA residents, I believe this model could be a step in the right direction for restructuring NYCHA.

NYCHA has almost 11,000 employees. It is ridiculous. If NYCHA just got rid of all the programs they run and let that money go to The Fund, which partners with non-profit organizations that bring in structure, money (so does the Fund), and curricula that run them. The government isn’t doing right by the majority of these services; they’re okay, but not great. How do we make them better? There are people in government who could be bold and shake it up. It is time for shaking. The government needs to bring in technology and other non-profit organizations to take the load off. The cost is less, and the impact is more.

We recently looked at an NYCHA program that will no longer be funded by the government. The cost is $2.4 million. It’s a popular program that nonprofits and donors love, but the funding came from the last mayor’s fund. That is what happens, which is why having the Fund outside of NYCHA makes sense, because we do not change with each administration. We can grow programs, not grow and cut. These communities need a steady hand.

Of the $2.4 million, over 25% went to salaries. I expect everyone to be paid appropriately, but I’m concerned about having that many people run this program because it doesn’t make financial sense. Philanthropy is changing, too. Donors want to see success, with the majority of the capital going towards programs rather than management, and with an impact on the community/people. Running this program outside NYCHA allows us to be lean and efficient.

I would never want us to be part of the government, but there are plenty of government funds that should be reappropriated to rethink how government operates. I hope that this next generation has the energy to break some glass. There are clearly many ways to change things up with strong leadership and doing it differently. People are ready.

The post More on Government appeared first on Gotham Gal.

I saw a Pew Research Center poll noting that across 25 countries, Americans were the only ones who believed that a majority of their fellow citizens had bad morals. What a country! To add to that information, regarding education ranking, we are 31st. It doesn’t take much math, where the US falls behind, to see why we are being laughed at across the globe. Higher education has a direct correlation to economy prosperity and a country’s overall health where we seem to be seriously lagging these days.

In Paris, the food is clean, vs loaded with chemicals for shelf stability. Those chemicals aren’t good for anyone except for the pharma companies, who clean up the mess with drugs that we take to make ourselves better. How about just making clean products like bread that has only four ingredients in France.

I love the Metro in Paris, and more streets are being closed to cars. The transportation system works quite well from urban to suburban areas. The country prioritizes infrastructure, which in turn creates jobs and boosts the economy. The country owns 20% of the ground-level real estate, keeping stores open and rents down. No, you can’t make money in real estate in France, but you can own a home or an apartment without going broke.

Am I a capitalist? Absolutely. Do I believe that with financial success comes a responsibility to give back? Absolutely. Yet, every time I go to France, and yes, a socialist system, there is a lot to be said about how they live their lives. Educated, cultured, family oriented, and perhaps not as driven as us in some respects but there are plenty of incredibly successful people in France.

It is times like these, with the insanity happening in America, that it is hard not to be embarrassed to be one right now, and look to other places that have strong leaders and are doing the right thing by their citizens.

The post Being in France appeared first on Gotham Gal.

In NYC, we all see the empty retail spaces at ground level. We walk by them and watch them sit, unused. They are a sight for sore eyes in each neighborhood. It isn’t good for the community to have empty storefronts, period.

On the corner of Washington and 12th Street, used to sit Tortilla Flats. A restaurant that opened in 1983 and closed in November 2018, and still sits empty. The landlord wanted more rent, and the numbers simply did not add up. The owner (whom I know) got to the point where he was making zero and just keeping it open to pay the employees and rent. It was a neighborhood fixture, always bustling, and everyone had been to it at least once, if not several times, in their youth. Fun fact: Tortilla Flats went through more tequila than any other restaurant in the city.

I’d love to know how the landlord feels now. Does that owner even live in the West Village, where Tortilla Flats once stood? How were they able to pay the mortgage, the upkeep, and everything in between without a tenant? Now there is some construction going on, but no tenant sighting. They left that empty shell for the past 8 years for the neighborhood to look at, leaving us with one fewer spot to eat.

The real estate owners have set inflated ground-floor rent rates, making it almost impossible to be profitable. It is the same issue with housing. We need a reality check, as the economy will need to adjust after Trump. The debt, the spending spree…not looking good.

How does a city fix this so there are no more empty storefronts? NYC needs to pass a law requiring landlords to have 12 months to relet their spaces before being fined. That is absolutely fair to figure out the reality of the market. I know because we own real estate and rent it out. If nobody wants it at that price, figure out how long you are going to give it before lowering the price, or be thoughtful about what you are happy to earn off the property that is fair and equitable, that keeps tenants around a long time. If the spot remains empty without a lease in hand after 12 months, the landlord should be fined, and the fine increases over time. Not a small fee, a big fee, that gets larger and larger, one that hurts anyone.

How else do we reset a market and bring back an affordable city?

The post Ground Level Retail appeared first on Gotham Gal.

At the beginning of Gotham, I was thinking about how to build the brand and grow. The Shed housed the Frieze, and still does, in 2023. I figured it was the perfect spot to engage people about their cannabis use. Rachel was psyched, and we got her a press pass. Ends up nobody wanted to chat.

Rachel, being the smart, creative person that she is, popped a gummy (I believe) and created the now-must-watch High I’m High. You can watch them all here. The show comes out every other Saturday on Gotham’s Instagram, highlighting spots in NYC through the eyes of a mildly stoned Rachel. It is epic.

For the Shorty Awards, we are a finalist in a Branded Series. You can vote here. We are also up for a Webby Award, best short-form video. You can vote here. FYI, the Shorty Awards website is much better.

Voting for The Webby Awards closes on Thursday, April 16. Voting for The Shorty Awards closes on Wednesday, April 8.

PLEASE VOTE!

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Some days I am riding high, and other times I am stressed out, although I try hard to keep it under wraps. A constant roller-coaster. The cannabis industry is laden with a heavy-handed government structure, which would be state-by-state, and that adds a whole other level of intensity.

Do I understand that intelligent government people are trying to peel back decades of false narratives around the plant that destroyed countless families, mostly Black and brown? Yes, I do, and note the word intelligent. There was a time in my life when a government worker had esteem, maybe it was growing up in the DC area, and I was too young to see the layers of corruption and bureaucratic red tape. Maybe it was the unions that killed their commitment and drive? There are many reasons.

I hope the leadership in NYS can now update the rules to better reflect the realities of the business. To be bold and strong by thinking out of the box, and thoughtful in a timely manner, and prove that we can still be leaders in the industry, so when the plant does get federally approved, they look to what NYS has done. Isn’t that the can-do attitude we all love about NY? Whether you agree with Mamdani’s policies or not, he has shown leadership by listening and trying to do things differently. We all need a fresh set of eyes and ideas.

Seeing AOC push the narrative about why cannabis is still a series 1 drug is thrilling. She’s young and the leader of a new generation, whether you like it or not, and she has probably been stoned and understands the power of the plant.

Back to this entrepreneurial venture of mine: at my age, let’s highlight that, including the fact that the business has only been legal in NYS for five years, and the rules and regs were made as the industry grew. I have thought a lot about why.

I was busy doing other things, being a Mom (best and favorite role ever), being a wife, and being someone who needed to own their personal time. I was never going to work for anyone. I hope to see more women amp up their careers when the kids leave the nest.

Did I have to do this? Absolutely not, I could have gone into a new phase of a much chiller existence, but at my core, I had to do this. Would I do it again, now knowing how every day is swimming upstream against the government, the margins, the unions, the cash sink, the frustrations?

Sadly, the answer is no. I would have chosen a different business to build from the start. Ideas were plenty, but this seemed like an almost impossible frontier to conquer. At this point, I guess we will see.

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