One of the city's biggest real estate brokerages seems worried that a "far-left" district attorney could put a dent in its bottom line.

Crain's obtained an email that Corcoran Group CEO Pamela Liebman appears to have sent employees on Monday, warning about public defender Tiffany Cabán's bid to become Queens' top prosecutor. Corcoran declined to confirm or deny that Liebman sent the email (see below), or that the company's employees received it.

Cabán, a member of the Democratic Socialists of America, recently received the backing of Rep. Alexandria Ocasio-Cortez, Vermont Sen. Bernie Sanders and Massachusetts Sen. Elizabeth Warren and has released an ad attacking the influence of property interests.

Liebman's missive describes the company's attitude toward politics as "understandably reserved"—but asserted that the Queens election has "potential to dramatically alter our business." It acknowledges that this is not because of the power the prosecutor's office has over the sector, but because of Cabán's potential to escalate the "fiercely progressive" rhetoric that led to Amazon canceling plans for a Long Island City campus and the "troubling new rent regulations" the state Legislature passed this month.

"Though the DA's authority may not have a direct effect on the real estate business in Queens or the other boroughs, a far-left candidate's election to this influential post sets a precedent that could severely stunt our business—in the borough and beyond," the email reads.

Liebman then contrasts the "unqualified underdog" Cabán with the front-runner and favorite of the county Democratic organization, Queens Borough President Melinda Katz, whom the CEO refers to as a "long-respected figure." Katz has a liberal record overall, but ran the City Council's powerful Committee on Land Use in the 2000s and oversaw the approval of a number of important property rezonings.

The message notes that there are six candidates in the contest—Councilman Rory Lancman dropped out last week and endorsed Katz, but his name remains on the ballot—and argues that Cabán could win with as little as a quarter of the vote.

Liebman ends by all but recommending that Corcoran employees vote against the insurgent democratic socialist.

"I'm writing to urge Corcoran agents and employees who live in Queens to read up on this race and consider its implications for the borough, the city, and the real estate business," the email says. "Above all, I encourage you to get out and vote in tomorrow's primary. Vote with your conscience, of course, but please know that your participation in the process is essential. This is an extraordinarily consequential primary, and its outcome could have big implications on our business."

Katz has received tens of thousands of dollars in contributions from major property owners and developers, including Rudin Management, A&E Real Estate and Related Companies' Stephen Ross.

Cabán, on the other hand, has received substantial financial support from figures in tech and finance, including hedge funders Donald Sussman and Michael Novogratz, and from Patricia Quillin, the wife of Netflix CEO Reed Hastings.

"I spend a lot of my time in criminal justice reform and she is at the forefront of district attorneys (or would be in her case) who will use the office to help bring about a saner system," Novogratz wrote in a tweet to a Crain's reporter Monday. "What we have now is expensive, inefficient, and totally unfair and inhumane."

Read the email:

From: Liebman, Pamela

Sent: Monday, June 24, 2019 1:55:19 PM

To: Liebman, Pamela

Subject: Queens DA Race

Hi all,

As a company, we are understandably reserved when it comes to expressing support for political candidates in our regions and beyond. Now and then, however, a race for an elected office stands out as one with the potential to dramatically alter our business. Such a race is playing out in Queens, for the office of District Attorney — a race whose course will be set when a crucial primary happens tomorrow, June 25.

Among Democrats, 31-year-old public defender Tiffany Caban is getting a lot of attention at home and in Washington, thanks to endorsements by a pair of presidential candidates, Senators Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont — not to mention the enthusiastic support of Queens Congresswoman Alexandria Ocasio-Cortez. Caban's platform is fiercely progressive — very much the sort of rhetoric that led to the scuttling of Amazon's HQ2 plans for Long Island City and the introduction of the city's troubling new rent regulations. And though the DA's authority may not have a direct effect on the real estate business in Queens or the other boroughs, a far-left candidate's election to this influential post sets a precedent that could severely stunt our business — in the borough and beyond.

Caban's chief rival — and the frontrunner in the DA race — is Queens Borough President Melinda Katz. A long-respected figure in Queens, Katz as a strong lead in the polls, but the ballot is loaded with six candidates, all of whom are pledging some degree of criminal justice reform. With only 100,000 voters expected to turn out tomorrow, a crowded field of fundamentally aligned candidates can allow an unqualified underdog with big-name buzz to walk away with a win. Estimates suggest that Caban needs only 25 percent of the vote to win this primary.

I'm writing to urge Corcoran agents and employees who live in Queens to read up on this race and consider its implications for the borough, the city, and the real estate business. Above all, I encourage you to get out and vote in tomorrow's primary. Vote with your conscience, of course, but please know that your participation in the process is essential. This is an extraordinarily consequential primary, and its outcome could have big implications on our business.

Thanks.

Pam

Pamela Liebman

President & CEO

The Corcoran Group