- Barack and Michelle Obama just dropped $11.75 million on a house on Martha’s Vineyard in Massachusetts, Julia Wells reported for The Vineyard Gazette.
- The 7-bedroom home spans almost 7,000 feet and sits on 29 waterfront acres, according to the listing.
- It comes with an outdoor swimming pool, sun decks and balconies, a boathouse, and private beachfront.
- The home was originally asking $14.85 million.
- The former first family has spent summer vacations on Martha’s Vineyard, which is a popular summer destination for the wealthy.
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Barack and Michelle Obama just dropped $11.75 million on a house on Martha’s Vineyard in Massachusetts, Julia Wells reported for The Vineyard Gazette.
Martha’s Vineyard is an affluent vacation destination where the Obama family has previously spent summer vacations. Rumors have swirled about the family possibly buying a home there since the former president left office.
The former first family reportedly bought the home through a nominee trust from sellers Wycliffe Grousbeck, who owns the Boston Celtics, and Corinne Basler Grousbeck, according to the Gazette.
The 7-bedroom home spans almost 7,000 square feet and sits on 29 waterfront acres overlooking Edgartown Great Pond, according to the listing. The asking price was $14.85 million.
The listing agents, Gerret Conover and Thomas LeClair of LandVest Martha's Vineyard, declined to comment on the details of the sale. Ronald Rappaport, the attorney for the buyers, according to the Gazette, didn't immediately respond to Business Insider's request for comment.
Take a look inside the sprawling Martha's Vineyard home.
Barack and Michelle Obama reportedly just spent $11.75 million on a house on Martha's Vineyard, an affluent vacation island in Massachusetts.
The family bought the home through a nominee trust from Wycliffe Grousbeck, the owner of the Boston Celtics, and Corinne Basler Grousbeck, the Vineyard Gazette reported.
The Obamas have spent several summer vacations on Martha's Vineyard, and rumors have swirled for years that they were contemplating buying a home there.
The nearly 7,000-square-foot home sits on 29 waterfront acres overlooking Edgartown Great Pond.
Source: LandVest Martha's Vineyard
The home has seven bedrooms and 8.5 bathrooms.
Source: LandVest Martha's Vineyard
It comes with a modern chef's kitchen ...
Source: LandVest Martha's Vineyard
... and a circular formal dining room with a wall of windows overlooking the grounds.
Source: LandVest Martha's Vineyard
The interior is decorated in neutral tones with natural wood accents.
Source: LandVest Martha's Vineyard
The living room features vaulted ceilings with exposed steel beams and a stone fireplace as the focal point.
Source: LandVest Martha's Vineyard
And there are several other seating and entertainment spaces throughout the home.
Source: LandVest Martha's Vineyard
The master bedroom features high ceilings and glass doors that open up to the outdoors.
Source: LandVest Martha's Vineyard
Listing photos show a minimalist bathroom with glossy white subway tiles.
Source: LandVest Martha's Vineyard
One of the bedrooms is set up with bunk beds for children or multiple guests.
Source: LandVest Martha's Vineyard
The home comes with multiple decks and balconies for sun bathing.
Source: LandVest Martha's Vineyard
The property comes with a boathouse and private beachfront.
Source: LandVest Martha's Vineyard
There's also an outdoor swimming pool, as well as a hot tub on a second-floor balcony.
Source: LandVest Martha's Vineyard
Next to the pool is an al fresco dining area shaded with trees and greenery.
There's also an outdoor screened porch with an outdoor fireplace.
Source: LandVest Martha's Vineyard
The home also comes with a two-car garage.
Source: LandVest Martha's Vineyard
