Foreclosure auction for historic Bethesda Theatre fails to attract bids

Foreclosure auction: The art deco theater from 1938 underwent a $12 million renovation in 2007.

  • close
    Foreclosure auction for a home in Long Beach, Calif is seen in this file photo.
    View Caption

The landmark Bethesda Theatre could be on its last run.

The live-performance venue on Wisconsin Avenue failed to attract any outside bids at a foreclosure auction on Tuesday and was bought back by BB&T Bank for $2 million.

According to the terms of the auction, the 700-seat property must "be used for cinema or performing arts use." The bank and the theater's owner, the Bethesda Cultural Alliance, will decide what to do next.

Recommended: Could you pass a US citizenship test?

The theater opened as an art deco movie house in 1938. In 2007, it underwent a $12 million renovation.

The theater was put on the auction block after its owners defaulted on their mortgage when the economy soured.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.