The seven-bedroom home spans almost 7,000 square feet and sits on 29 waterfront acres overlooking Edgartown Great Pond, according to the listing. She writes news and advice stories about real estate, design, and celebrity homes, and produces and co-hosts's podcast, House Party.

The Obamas have a long history of renting on the island, most notably the $18 million house in Chilmark that was dubbed their "summer White House" in 2013.

There’s plenty more where that came from. Mr. Grousbeck is a private equity investor and owner of the Boston Celtics basketball team,” the Gazette reported. Money from the fees is used to buy conservation land and protect natural resources such as aquifers, scenic views and farmland on the Vineyard.

The family also visited the Island before, including when he was a senator from Illinois. Rumors of the impending sale have been circulating since late this summer, when the Obamas rented the property for several weeks. Don't Neglect These 6 Maintenance Tasks—or Else, Debunked! Rumblings of the Obamas multimillion-dollar purchase surfaced in August, but they officially closed the deal this week, joining the elite Martha’s Vineyard community in a nearly 7,000 square foot home that sits on roughly 29 acres, facing the Edgartown Great Pond.

The former first family bought the home through a nominee trust from the sellers Wycliffe Grousbeck, who owns the Boston Celtics, and Corinne Basler Grousbeck, according to the Gazette. 1,439, This story has been shared 1,197 times. The compound was originally listed for sale in 2015 for $22.5 million and dropped to $14.85 million in July 2019. 1,886, This story has been shared 1,439 times. The former first couple had been eyeing the soon-to-be-underwater property on what will formally be known as Martha’s Vineyard for a few years.

Take a look inside the sprawling Martha's Vineyard home. the 6,892-square-foot Martha's Vineyard estate was sold on Wednesday, The Best Ways to Get to Nantucket And Martha's Vineyard, See the Obamas' Martha's Vineyard Vacation Home, T&C Travel Guide: The Best of Martha's Vineyard, 25 Telltale Signs You Summer In Martha's Vineyard.

The Obamas are by now familiar summer visitors on the Vineyard. Martha’s Vineyard is just short of 95 percent white. “We’re told there are contingencies so it’s possible it could fall apart, but we’re told so far it’s a go.”. They also own a 6,243-square-foot home in Chicago’s South Side Kenwood neighborhood. According to People, the 6,892-square-foot Martha's Vineyard estate was sold on Wednesday for $11.75 million to a trust. Plus, there are odd architectural touches like metal cables connecting the vaulted ceiling in the living room and concrete columns that scream "parking structure" instead of "palatial New England home."

The listing agents, Gerret Conover and Thomas LeClair of LandVest Martha's Vineyard, declined to comment on the details of the sale. Claim: Barack and Michelle Obama purchased a $15 million waterfront mansion on Martha\u2019s Vineyard.

Barack and Michelle Obama just spent $11.75 million on a house on Martha's Vineyard, an affluent vacation island in Massachusetts, the Vineyard Gazette reported. The Obamas were initially just renting the seven-bedroom, 8½-bathroom spread for summer 2019, but apparently loved it so much that they made an offer. The Obamas May Buy Beachfront Property in Martha's Vineyard: What Could Go Wrong? Designed by Bradenburger Taylor Lombardo Architects in San Francisco, the home was built in 2001 by John Early, a well-known Island contractor.

There’s no great future in plastics — at least atop... Obamas’ first film reveals struggles at China-run ‘American Factory’. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider There is a two-car garage, a detached barn and a pool. Barack and Michelle Obama, the former U.S. president and first lady, rented a seven-bedroom home on Martha’s Vineyard this summer and decided to stay.

For three summers beginning in 2009, the first family vacationed at Blue Heron Farm, a 28-acre property on the Tisbury Great Pond, just over the Chilmark-West Tisbury town line.

The Martha's Vineyard estate that Jackie Kennedy bought for $1 million in 1979 just hit the market for $65 million — here's a look inside the property.

Former President Obama and his family are now permanent homeowners on Martha’s Vineyard, after completing the purchase this week of a large home situated on nearly 30 acres in the coastal perimeter of Edgartown.

Martha's Vineyard is an affluent vacation destination where the Obama family has previously spent summer vacations. It comes with beautiful views and plenty of privacy—perfect for a high-profile family looking for a little low-key rest and relaxation. For the best experience, please enable cookies when using our site.

Thanks for contacting us. Situated on 29.3 waterfront acres near the Edgartown Great Pond, the impressive estate, which was built in 2001, features seven bedrooms, eight bathrooms, and a powder room. You may be able to find more information about this and similar content at, What You Need to Know About Sandringham Castle, Learn About Anmer Hall, Will & Kate's Country Home, See Inside JFK’s Stunning Palm Beach Vacation Home. “The buyer is a nominee trust representing the former First Family. The home features seven bedrooms, eight and a half baths and several stone fireplaces. This story has been shared 1,886 times. Scroll through the photos below. This site is protected by reCAPTCHA and the, Sorry, we were unable to share this article. A roundup of uplifting stories about everyday heroes.

Subscriber Barack and Michelle Obama just spent $11.75 million on a house on Martha's Vineyard, an affluent vacation island in Massachusetts, the Vineyard Gazette reported. The Dukes County Registry of Deeds recorded the $11.75 million price on Wednesday afternoon, per the Vineyard Gazette. Turkeyland Cove earned its name because the area was once used to dry herring that were once abundant in the Great Ponds. If you want to know what people truly believe, don’t listen to what they say they believe… No, you have to watch what they actually do… And the very same people who are bullying us to give up our cars and beef and grills — because if we don’t, the oceans will rise and destroy the coasts!! — owned by Boston Celtics chief Wyc Grousbeck — has a living room with vaulted ceilings and a stone fireplace, a chef’s kitchen and a formal dining room with giant windows, according to the property’s listing.

Sorry, your blog cannot share posts by email.

Please let us know if you're having issues with commenting. As Breitbart News’s John Nolte observed in August: Regardless of his age, if Global Warming were real, this would be a terrible investment under any circumstance. “There are two guest wings and an impressive master suite with fireplace, private sun deck and spectacular water views,” the listing boasts.

Jonathan Ernst / Reuters With his multimillion-dollar book deal in hand, Barack Obama has found his ultimate hideaway to pen his White House memoir: Tetiaroa, a private island … The purchase comes in addition to the $8.1 million home the Obamas purchased in 2017 in Washington, DC’s Kalorama neighborhood.

Grousbeck initially put the palatial property on the market in 2015 for $22.5 million. TMZ reports that the former president and first lady are in escrow — aka in contract to purchase — a 29-acre beachfront plot with a 6,892-square-foot main house.

But given Michelle Obama’s bestselling hit “Becoming” — and the lucrative book tour that accompanied it — it’s estimated the couple is actually worth more than $135 million. Every item on this page was chosen by a Town & Country editor.

A leading-edge research firm focused on digital transformation. That's not to say that this massive seaside property isn't stunning. The Obamas are owners of an $11.75 million waterfront mansion in Martha’s Vineyard, officially purchasing the Edgartown Estate this week. Town & Country participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites.

Later they rented a 7,000-square-foot home overlooking Chilmark Pond, and more recently spent several summers at a spacious home overlooking the Island’s north shore.

As of 2018, Barack Obama’s net worth was about $40 million, from projects like speaking engagements and books as well as the six-figure pension granted to all past presidents, according to a GoBankingRates calculation.