Barack And Michelle Obama Buy $11.75 Million Estate On Martha's Vineyard

It's well known that Martha's Vineyard is a favorite vacation spot for the Obama family.

Throughout his presidency, Barack Obama and his family would rent a property on the island as a place to take a breather during the summer.

Now, they've made it their official vacation spot, by purchasing an estate of their own.

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Reported by The Vineyard Gazette and confirmed by PEOPLE, the couple has chosen a place right on the shore of Edgartown Great Pond.

The house itself is 6,892 square feet and sits on a 29.3-acre lot.


It has seven bedrooms and eight-and-a-half bathrooms, split among two guest wings and a master suite.

There is also a private beach and boathouse.

Rumors have circulated about the possible purchase, since the Obamas rented the home over this past summer.


Built in 2001, the property has been on sale since 2015, when it was listed for $22.5 million. This summer, the price dropped twice, to $16.25 million, then to $14.85 million, before selling to the Obamas for a reported $11.75 million.

The actual buyer is listed as a trust, but PEOPLE has confirmed that the trust repesents the former First Family.


The previous owner was Wycliffe Grousbeck , who also owns the Boston Celtics. He and wife Corinne Basler Grousbeck bought the land in 1998 for 3.1 million.

It's been a busy year for the Obamas and they don't show any signs of slowing down.


Michelle has been touring after her record-breaking first memoir Becoming sold 11 million copies. Barack's own memoir is slated to come out in 2020.

So having a quiet place to escape from the world seems like the perfect thing.

h/t: The Vineyard Gazette, PEOPLE