Assemblyman Marcos Crespo, who wielded power both in Albany and as Bronx Democratic Party boss, announced he won’t be running for re-election. He’ll be finishing out his term at the end of the year, opening the door for a vacant Assembly seat.

In a long statement posted on Facebook, Crespo called his time as Assemblyman for the 85th Assembly District, representing the southeast neighborhoods of Soundview, an “honor of my life.”

“I have decided not to seek re-election, but instead pursue opportunities outside of government that will allow me to continue to serve my community, be closer to my daughters and family, and also acknowledge and support a new generation of leadership that must continue the work that remains ahead,” said Crespo in a statement.

Crespo added that he will be pursuing a job outside of government that will allow him to be closer to his family. He vaguely mentioned that he will be in the district for a “short time” once the legislative session finishes out in June. Crespo did not return calls seeking comment.

“This all boils down to money and family,” said one Bronx political source familiar with Crespo’s decision.

George Artz, a political consultant who’s advised Crespo before, had gotten a sense something was coming down the pike when he Crespo privately told him at a recent fundraiser that he is no longer seeking to become borough president, a longstanding plan for Crespo.

“He told me that he wasn’t running for borough president, and I thought, ‘Wow,'” recalled Artz. “These decisions don’t come up suddenly.”

The news comes as a surprise for many in the Bronx political landscape who believed Crespo–who began as an aide to then state senator and now Councilman Ruben Diaz Sr.–to have succeeded Bronx Borough President Ruben Diaz Jr., who also announced his retirement from public office. Like Diaz, Crespo had built a resume that appeared as though he was ready to mount a run for borough president. Among his latest achievements as Assemblyman was seeing the passage of the Green Light Bill, which allows undocumented immigrants to obtain driver’s licenses. He also helped usher in mega projects, including the transformation of the Sheridan Expressway, which runs through his district. Crespo also went on numerous trips to the island of Puerto Rico, following Hurricane Maria and the recent earthquake that ravaged the island.

“It’s a surprise, but also an opportunity,” said Camille Rivera, a partner New Deal Strategies, of Crespo’s announcement. “There’s a real opportunity for stakeholders, for community organizations, and labor organizations to work towards coalescing around a progressive candidate and, considering the issues of the Bronx, a woman candidate and I think that’s the most important thing right now.”

Rivera argues that with more than half the Bronx comprised of women, it would seem a more logical choice to have greater female representation. Over the course of five years, more female legislators have stepped up to run and win office, including Assemblywoman Nathalia Fernandez, Assemblywoman Karines Reyes, state Sen. Alessandra Biaggi, and Congresswoman Alexandria Ocasio-Cortez.

Diaz Sr. told the Norwood News that his budget director, Kenneth Burgos, is now seeking to replace Crespo. He estimates with the seat effectively vacant, a slew of candidates will be vying for the seat.

With Crespo no longer in the running for borough president, this clears a lane for others to now become the front-runner. Council Members Vanessa Gibson and Andrew Cohen have both expressed interest in running. But a source told the Norwood News that Crespo is looking to back Councilman Rafael Salamanca Jr., whose Council district overlaps with Crespo.

Missing in his statement, however, was whether he’ll continue as Bronx Democratic Party chair, a position he was elected to close to five years ago.

Though there are no indications of whether he’ll remain party boss, a source close to the Bronx Democratic Party said told the Norwood News that Reyes, and Assembly Members Victor Pichardo and Jeffrey Dinowitz have expressed interest.

A source tells the Norwood News that Joyner, the current  is the likely front-runner, which would make her the first woman chair to run the Bronx Democratic Party.