Mr. Romo and a partner, Stanley Katsef, proposed converting Reynolds into a bed and breakfast and a tavern. Mr. Romo said he couldn't meet the asking price. Built in 1747 as William Reynolds' home and business, the property has housed a hatmaking business, public library and, most recently, a bar and restaurant. Since 1998, the brick building has been empty. The foundation, the trust and Farmers Bank have worked to find a preservation-minded occupant for the property.
Farmers holds the mortgage on the building.
In 1990, Farmers Bank foreclosed, and Mr. Pearson's Historic Inns of Annapolis went into bankruptcy. The Capital , Annapolis, Md.