UPDATE, Jan. 8, 10 a.m.: The auction for the property that houses the Bethesda Community Store has been called off.
The cancellation was confirmed by Bradd Caplan, an auction agent with Alex Cooper Real Estate.
Property owner Gary Jaffe also confirmed the cancellation, but couldn't speak with a reporter Tuesday morning.
It wasn't clear why the auction was canceled.
Bethesda Community Store owner Arnie Fainman said the business would continue to operate at the site for now. He couldn't comment further on the auction or foreclosure on the property where he is a tenant.
“I just have to keep pushing forward and maintaining the business and keep going, that’s all I can do,” Fainman said.
Original story: The property that houses the iconic Bethesda Community Store been foreclosed upon, according to a Bethesda Now report, and will be up for sale Tuesday morning.
The historic business has been located at Old Georgetown Road and Greentree Road since 1924.
The property is owned by Gary Jaffe of the Chevy Chase-based Jaffe Group. Jaffe did not return a call seeking comment.
How the sale will affect storeowner Arnie Fainman, a tenant at the location, is unknown.
“I’m not the one being foreclosed on so I can’t answer for the owner,” Fainman told Patch. “I have to worry about myself right now. I really don’t have any answers. I’m caught in the middle.”
Any changes to the exterior of the property, which is designated as a historic structure, would be subject to review by the Maryland-National Capital Park and Planning Commission. Any new owner would need to seek a historic area work permit from Park and Planning’s Historic Preservation Office if they chose to make modifications to the building.
The auction is set for 10:30 a.m. Tuesday.