realtor.com Their new seven-bedroom, 8.5-bathroom stunner comes with … 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. The Obamas are regular summer visitors to Martha’s Vineyard, about five miles off the coast of Massachusetts’ Cape Cod. You may opt-out by. The master suite is decked out with a fireplace, marble-covered bathroom and its own private sun deck. Below are steps you can take in order to whitelist Observer.com on your browser: Click the AdBlock button on your browser and select Don't run on pages on this domain. Barack and Michelle Obama just purchased a mansion on Martha's Vineyard for $11.75 million. I'm a former Bloomberg senior reporter and winner of the Loeb Award, the highest honor in. James F. Reynolds, a longtime friend of Barack Obama who also served as a member of his national finance committee during the 2008 presidential election, is named as a trustee on the deed. Sign up for OpenHouse, the twice-weekly newsletter I produce covering the U.S. real estate market, by clicking here. 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. The Obamas paid $11.75 million for the property listed with a $14.85 million price tag. © 2020 Forbes Media LLC. It's been an annual vacation destination for the Obama family since their time in the White House, but now they're putting down roots with the purchase of a gorgeous mansion that they rented over the summer. I'm a former Bloomberg senior reporter and winner of the Loeb Award, the highest honor in business journalism, as well as awards from the New York Press Club and National Association of Real Estate Editors. a double date vacation with George and Amal Clooney, thinking about scooping up a West Coast home. Barack and Michelle Obama have been vacationing on Martha’s Vineyard with their daughters, Sasha and Malia, for years, including during the former president’s time in the White House, when the whole family would take a two-week break in Chilmark, with plenty of photos including our favorite biking pictures ever. Every item on this page was chosen by a Town & Country editor. It’s clad in weathered shingles, the traditional style on Martha’s Vineyard. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. Barack and Michelle Obama, the former U. S. president and first lady, bought a seven-bedroom home on Martha’s Vineyard the week before Thanksgiving at a … It also boasts an elegant master suite complete with a fireplace, as well as two guest wings, a two-car garage, a sun deck, boathouse, and a pool. The living room features vaulted ceilings, exposed steel beams and a large stone fireplace, while the formal circular dining room is surrounded by walls of windows. The erstwhile first family is already familiar with the seven-bathroom, 8.5-bathroom waterfront estate, as they rented it this past summer. With these standout features, there is no doubt that Barack and Michelle Obama, along with their children, Sasha and Malia, will continue to enjoy memorable stays on Martha's Vineyard for years to come. Monique Valeris is the senior home editor for Good Housekeeping, where she covers decorating ideas, home tours, gift guides and more. Former President Barack Obama is now officially a resident of Martha’s Vineyard, after having closed on the Edgartown estate of Boston Celtics … The Obamas’ new custom-designed vacation home spans 6,892 square feet. The 6,892-square-foot house has private beaches along the shore of Edgartown’s Great Pond, a mix of fresh and salty water that opens to the ocean. Outside, there’s a pool and spa, with lots of screened and covered porches, an outdoor fireplace and a boathouse. The U-shaped house has a living room with a vaulted ceiling and fieldstone fireplace, a circular dining room lined with windows, and a master bedroom suite with a fireplace and a private sundeck overlooking the water. The seven-bedroom estate sits on 29.3 waterfront acres. Click the AdBlock Plus button on your browser and select Disable on Observer.com. Barack and Michelle Obama are close to buying a massive Martha’s Vineyard estate. A day after his arrival, Obama was spotted on one of his favorite links, the Farm Neck Golf Club in Oak Bluffs, about eight miles from his new home. This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. Opinions expressed by Forbes Contributors are their own. The couple rented the home this summer, arriving on the former president’s birthday, Aug. 4, and decided to buy it. The same day the deed was recorded, a mortgage for $7.05 million also was put on the record. The Obamas closed the deal on the 29-acre estate in Martha's Vineyard. I cover economic, housing and mortgage news as HousingWire’s Editor At Large. It's no secret that Michelle and Barack Obama enjoy spending down time at Martha's Vineyard, a quaint Massachusetts island that everyone from the Kennedys to the Clintons has visited. The lender was JP Morgan Chase, and the loan had a standard second-home rider. All Rights Reserved, This is a BETA experience. It’s an even bigger steal considering Grousbeck originally had the property listed for $22.5 million back in 2015. Just your average bike riding family. The Obamas have some celebrating to do. They entered escrow over the summer, according to TMZ, and now they’ve finalized the sale. You may be able to find more information about this and similar content at piano.io, 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. To read our full stories, please turn off your ad blocker.We'd really appreciate it. There are also two full separate guest wings. I cover the top tier of the housing market and people who inhabit it. After years of rumors about the former president and first lady scooping up a permanent residence on Martha’s Vineyard, Barack and Michelle Obama finally closed on a lavish, 29-acre compound. The Obamas' new Martha's Vineyard mansion comes with a luxurious in-ground pool. Over the ensuing four years, the property was on and off the market with three price reductions. Barack and Michelle Obama, the former U.S. president and first lady, bought a seven-bedroom home on Martha’s Vineyard the week before Thanksgiving at a 21% discount off the listing price, according to the deed filed at the county’s registry office on Dec. 4. They scored a significant discount from the $14.85 million that Boston Celtics owner Wyc Grousbeck last had the home on the market for, as the final sales price comes to $11.75 million. We get it: you like to have control of your own internet experience. The Obamas reportedly purchased the property from Wycliffe Grousbeck, owner of the Boston Celtics, and his ex-wife, Corinne Basler Grousbeck, who bought the home in 1998. The kitchen is fitted with white cabinetry and countertops, a stainless-steel topped island and a breakfast area. Click the AdBlock Plus button on your browser and select Enabled on this site. There’s also a screened-in porch with a fireplace and a pool surrounded by a garden. But advertising revenue helps support our journalism. This past summer, they also spent a bit of time in Europe, as they jetted off to the South of France for a family respite in Provence, before Barack and Michelle Obama headed over to Lake Como for a double date vacation with George and Amal Clooney to live their best vacation lives. The property has been on the market since 2015. The estate, which sits on 29.3 waterfront acres, features seven bedrooms. For weekday real estate news updates, follow me on Twitter by clicking here. SEE ALSO: Prince Harry and Meghan Celebrated Thanksgiving With Close Family in the United States. Scott Olson/Getty Images. I cover economic, housing and mortgage news as HousingWire’s Editor At Large. Barack and Michelle Obama are now Martha’s Vineyard homeowners. Barack and Michelle Obama Just Paid $11.75 Million for a Martha’s Vineyard Vacation Home By Morgan Halberg • 12/05/19 11:31am Barack and Michelle Obama are now Martha’s Vineyard homeowners. The Obamas have been on quite the home spree since vacating the White House—they maintain an $8.1 million mansion in D.C.’s Kalorama neighborhood, and while they’ve opted not to purchase a New York residence (at least not yet), they’re reportedly thinking about scooping up a West Coast home. the 6,892-square-foot Martha's Vineyard estate was sold on Wednesday, See the Obamas' Martha's Vineyard Vacation Home, The Best Ways to Get to Nantucket And Martha's Vineyard, T&C Travel Guide: The Best of Martha's Vineyard, 25 Telltale Signs You Summer In Martha's Vineyard. Rick Friedman-Pool/Getty Images. The former president and his wife, the author of the best-selling memoir “Becoming,” spent seven of Obama’s eight presidential summers on the island. The Obamas' pool with shaded dining area. The prior owner, Boston Celtics co-owner Wyc Grousbeck, had been trying to sell the home, set on 29 waterfront acres, since August 2015 when he initially listed it at $22.5 million, according to Zillow. According to People, the 6,892-square-foot Martha's Vineyard estate was sold on Wednesday for $11.75 million to a trust. We may earn commission on some of the items you choose to buy. Perhaps the erstwhile commander-in-chief will get to partake in some of his beloved water sports this coming summer.

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