The Obamas Just Bought an $11.75 Million Beach Home on Martha’s Vineyard
There may be no family who better understand the necessity of vacation—particularly one that involves the ocean, bike rides and some privacy—than the Obamas. The former first family has long been regular visitors to Martha’s Vineyard—they vacationed on the popular Massachusetts island for seven of the former President’s eight years as president. On Wednesday, the family made their vacation destination into a new place to call home, purchasing Martha’s Vineyard estate.
Earlier this summer, the Obamas rented the home in question during the former President’s birthday. The waterfront mansion, which was built in 2001, was sold for $11.75 million to a trust, according to People. The property was listed at $14.85 million and it belonged to Wycliffe Grousbeck, the owner of the Boston Celtics, and his ex-wife Cornnie Basler Grousbeck.
The deed names James F. Reynolds, a Chicago investment banker and an old friend of President Obama, as a trustee. During the 2008 presidential election, Reynolds served as a member of Obama’s national finance committee. According to the Vineyard Gazette, the home was designed by Brandenburger Taylor Lombardo Architects in San Francisco.
The 6,892-square-foot Martha’s Vineyard property sits on 29.3 acres and features seven bedrooms, eight and a half baths, and stone fireplaces. It also has a boathouse, a sun deck, a pool, and two guest wings. The mansion is located in the island town of Edgartown and has private beaches along its surrounding shore.
The Obamas also have a home two miles from the White House in Kalorama, which has been home to Woodrow Wilson, William Taft, and Franklin D. Roosevelt.
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