Barack & Michelle Obama Just Bought a $11.75M, 7-Bedroom Martha’s Vineyard Estate
The 6,892-square-foot property sits on 29.3 acres and features seven bedrooms, eight-and-a-half baths and several stone fireplaces
The Obamas just turned one of their favorite vacation spots into their new home.
Former President Barack Obama and former First Lady Michelle Obama this week purchased a 6,892-square-foot home on Martha’s Vineyard off the coast of Massachusetts, according to the Vineyard Gazette and TMZ.
PEOPLE confirms the seven-bedroom island mansion was sold Wednesday for $11.75 million to a trust.
The deed also names as trustee James F. Reynolds, a Chicago investment banker who has been friends with President Obama, 58, since he was a state senator in Illinois. Reynolds was a member of Obama’s national finance committee during the 2008 presidential election.
According to the Gazette and TMZ, the former first couple rented their new home over the summer before buying it.
The Martha’s Vineyard property sits on 29.3 acres and features seven bedrooms, eight-and-a-half baths and several stone fireplaces. It is located in Edgartown and was built in 2001.
The house is next to the Edgartown Great Pond and has views of the ocean.
The home was sold by Wycliffe Grousbeck and Corinne Basler Grousbeck. Wycliffe is the owner of the Boston Celtics.
A spokeswoman for the Obamas had no comment.