Architecture & Real Estate | August 24, 2019 5:55 am

Check Out the Martha’s Vineyard Estate the Obamas Plan to Buy for $15M

Barack and Michelle decided to pull the trigger on their summer rental

Obama House Martha's Vineyard
79 Turkeyland Cove Road in Edgartown, Massachusetts

For most of us, the end of August means it’s time to pack up the summer home, hand in the key to the rental and return to our everyday lives.

The Obamas, however, will be living the dream of vacationers everywhere, extending their summertime bliss indefinitely by simply buying their rental. After spending the summer in a dreamy mansion they rented on Martha’s Vineyard, Barack and Michelle Obama have decided to purchase the luxurious New England estate, as first reported by TMZ.

The $14.85 million compound is owned by Boston Celtics owner Wyc Grousbeck, who has reportedly been trying to sell the estate for years. According to Robb Report, the property was first listed back in 2015 at an ultra-high asking price of $22.5 million. The Obamas reportedly put in an offer below the property’s reduced 2019 asking price, and while the estate is still in escrow, TMZ reported that both sides are confident the sale will go through.

If it does, the Obamas will be the new owners of the sprawling, nearly 7,000-square-foot mansion and the 29.3 acres of private, beachfront property it sits on. Designed by Bradenburger Taylor Lombardo Architects from San Francisco, the home features seven bedrooms and eight-and-a-half bathrooms, as well as a chef’s kitchen, multiple lounging and entertainment spaces, as well as a grand circular dining room. The property also includes a garden, an outdoor fireplace, a pool and a jacuzzi. You can see more photos of the listing here.

As Robb Report noted, the couple’s summer home splurge won’t be their first major real estate investment in recent years. After leaving the While House in January 2017, the Chicago home owners purchased an 8,200-square-foot home in Washington D.C. in May of that year.

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