Nicholas T. Terzulli is Co-Chair of the Economic Development & Tax Incentives law practice and Senior Counsel attorney in the Corporate Law, Real Estate Law, Government Relations, Commercial Banking & Finance Law and Cannabis Law groups in the firm’s New York City office. Nick practices law at the nexus of business and government, providing legal, policy, regulatory and strategic guidance to clients on a range of corporate, real estate, economic development, health care, and cannabis-related issues.
In his practice, Nick advises and counsels a wide variety of privately held small and midsize businesses, entrepreneurs, real estate developers, and nonprofit organizations.
Prior to joining the firm, Nick was an economic development executive in Nassau County and practiced law at a leading Long Island-based law firm. As a former municipal economic development executive, Nick possesses an unparalleled understanding of how to access multi-million-dollar tax incentives through property tax exemptions, sales-tax exemptions, tax-exempt bond offerings, and New York State-based tax incentive programs.
During his time working in government and in the private sector, Nick negotiated and closed numerous multi-million-dollar incentive packages that stimulated hundreds of millions of dollars of real estate development and economic impact throughout New York State. He also appeared on PBS’s Long Island Business Report, a weekly half-hour program that provides an in-depth look at what needs to be done to make Long Island a more dynamic place to live and work by exploring the economic and business trends that impact the nearly 3 million people who call Nassau and Suffolk counties home.
Nick was a guest who provided cogent insights on the importance of IDAs and their role in economic development for the region in their “Industrial Development Agencies of Long Island” episode, watch now.
Taking a lead role in DHC’s interdisciplinary Cannabis Law group, Nick secured one of the first New York State Conditional Adult-Use Recreation Dispensary Licenses for a client and provides regulatory, corporate, land use, and real estate guidance to the firm’s growing Cannabis client base.
Nick also serves as General Counsel to a real estate private equity fund that owns and operates multiple assisted living facilities in Georgia and Virginia. In this role, he provides comprehensive legal guidance including, advising on day-to-day business operations, negotiating acquisitions and re-financings, resolving employment issues, and navigating local and federal healthcare policy.
In giving back to his community Nick serves as Treasurer to the Nassau Community College Foundation Board and is also a Board Member of Hugs from Friends, a nonprofit that encourages children in the United States to create artwork to show support for Ukrainian children and families that have been impacted by the war.
Additionally, Nick served as an Adjunct Professor at Hofstra University’s Frank G. Zarb School of Business where he designed and taught a course on economic development.
NOTABLE ENGAGEMENTS
- Closed multi-million-dollar tax incentive package for leading New York City manufacturing facility;
- Secured First in State Conditional Adult Use Retail Dispensary License (“Cannabis”) for justice-impacted client;
- Successfully negotiated and closed $1MM New York State grant for leading New York State real estate developer;
- Structured and Closed 30-year property tax exemption for complex Transit Oriented Development housing community on Long Island;
- Secured Multi-Million dollar tax exemption package from New York State and Town of Babylon for an international biomedical testing company
- Negotiated complex, multi-party, economic development incentive agreement for leading nonprofit organization
- Created innovative, first in New York, tax incentive program to assist small and mid-size businesses;
- Spearheaded Nassau County’s Superstorm Sandy Economic Recovery Taskforce and delivered direct financial relief to over 2500 small businesses;
- Secured an increase in resident capacity for two Georgia senior living facilities from the Georgia Department of Community Health
PUBLISHED ARTICLES
- Clearing the Cloud: 3 Crucial Steps for Dispensary Entrepreneurs to Master New York’s Adult-Use Cannabis Regulations
- New York is Sparking the Adult-Use Cannabis Marketplace on 10/4/23 Are You Ready? (DHC Law Blog)
- What Should Mid-Market Companies Do To Protect Deposits During The Current Bank Liquidity Crunch? (DHC Insights Law Blog)
- L.I. Should Emulate NYC to Meet its Current Housing Challenge (DHC Insights Law Blog)
- If The Feds Really CARE, they Should Teach Americans to Fish (Real Clear Policy Blog)
- New York Should Keep Hamilton in Mind after Amazon (Long Island Business News Op-Ed)
- Business Resources and Recovery (JD Supra Law Blog)
- IDAs Are More Important Now Than Ever (Long Island Business News Op-Ed)
PRESENTATIONS
- Maximizing Economic Benefits: How IDAs and Other Incentive Programs Can Help Developers on Long Island – Continuing Legal Education (CLE) course
- Program topics included: Industrial Development Agencies, Tax Exempt Powers of Industrial Development Agencies, How Do Industrial Development Agencies Work, New York State Economic Development Tools, and Utility Incentives. Participants received 1.5 CLE credits in skills. This event was hosted by Advantage Title.
AWARDS & COMMUNITY INVOLVEMENT
- Best Lawyers: Ones to Watch (2024, 2025)
- International Economic Development Council “40 Economic Development Rising Stars Under 40”
- Nassau Community College Foundation Board, Treasurer
- Hugs from Friends, Board Member
PERSONAL QUOTE
I enjoy practicing law because, fundamentally, I relish being able to help clients achieve their goal. Entrepreneurs, businesses, real estate developers, nonprofit organizations have various goals and objectives, my role, as their attorney, is to help achieve their goals safely and expeditiously.
Media Appearances
