Barack and Michelle Obama have reportedly purchased a waterfront estate on Martha’s Vineyard for $11.75 million.
The former president and first lady bought the sprawling, multimillion-dollar mansion from Boston Celtics co-owner Wyc Grousbeck, according to the Martha Vineyard’s Times and the Martha’s Vineyard Gazette.
The home was purchased by the 79 Turkeyland Cove Road Nominee Trust and “Reynolds James F TRS,” according to a Massachusetts Land Records posting on Wednesday afternoon.
The home on Turkeyland Cove Road in Edgartown went under agreement last month. The Obamas rented the waterfront estate this summer.
Grousbeck recently put the estate on the market for $14.85 million, according to realtor.com. He’d originally put the house on the market for $22 million in 2015.
Gerret Conover and Thomas LeClair, the brokers from LandVest Martha’s Vineyard who managed the sale, said, “We cannot comment further on any details of the 79 Turkeyland Cove Road closing.”
It’s quite a lavish spread, boasting seven bedrooms, 8½ baths, and 29 acres in all. The 7,000-square-foot shingle-style home has a pool and hot tub, an outdoor stone fireplace, soaring vaulted ceilings with exposed beams, a massive kitchen, and plenty of breathtaking views.
The property also has a private beach.
The Obamas have spent plenty of time on the Vineyard over the years. During his two terms in the White House, Barack Obama and his family vacationed on the Vineyard every year but one. For several summers, the family rented a home in Chilmark, but this year they rented Grousbeck’s estate.
Michelle Obama was spotted on the Vineyard in October, visting the Edgartown Public Library, where she chatted with young students in the children’s room, according to library director Lisa Sherman.