The expected sale of a 5,881 unit affordable housing complex in Brooklyn, N.Y., that could have brought hundreds of millions of dollars of bonds to the market has collapsed, according to a representative for the seller.

“The seller’s taken it off the market,” said Todd Trehubenko, president of Recap Advisors LLC, which represents Starrett City Associates. Given the size and complexity of the deal along with the credit crunch and faltering housing market, it “just proved to not be the right time to sell,” he said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.