The sale of a 5,881 unit affordable housing complex in Brooklyn, N.Y., could bring hundreds of millions of dollars of bonds to the market by the end the year.

Four finalists must submit a bid by Sept. 25 and each is seeking tax-exempt bonds to be issued through the New York State Housing Finance Agency to finance the purchase of Starrett City. The bonds would be issued on behalf of 501(c)(3) non-profit corporations that are associated with each of the bids and would not use private-activity bond volume cap. A source familiar with negotiations said the deal could price early next year, rather than this year because of its complexity.

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