The Obamas bought a $12 million house on Martha's Vineyard. 

The Obama family has previously spent summer vacations on Martha's Vineyard. 

Ron Sachs-Pool/Getty Images; LandVest; Ruobing Su/Business Insider

Barack and Michelle Obama just dropped $11.75 million on a house on Martha's Vineyard in Massachusetts, Julia Wells reported for the Vineyard Gazette.
The seven-bedroom home is almost 7,000 square feet and sits on 29 waterfront acres, according to the listing.
It comes with an outdoor swimming pool, sun decks and balconies, a boathouse, and private beachfront.
The home's asking price was originally $14.85 million.
The former first family has spent summer vacations on Martha's Vineyard, which is a popular summer destination for the wealthy.



Barack and Michelle Obama just dropped $11.75 million on a house on Martha's Vineyard in Massachusetts, Julia Wells reported for the Vineyard Gazette.


Martha's Vineyard is an affluent vacation destination where the Obama family has previously spent summer vacations. Rumors have swirled about the family buying a home there since the former president left office.

The former first family bought the home through a nominee trust from the sellers Wycliffe Grousbeck, who owns the Boston Celtics, and Corinne Basler Grousbeck, according to the Gazette.

The seven-bedroom home spans almost 7,000 square feet and sits on 29 waterfront acres overlooking Edgartown Great Pond, according to the listing. The asking price was $14.85 million.

The listing agents, Gerret Conover and Thomas LeClair of LandVest Martha's Vineyard, declined to comment on the details of the sale. Ronald Rappaport, the attorney for the buyers, according to the Gazette, didn't immediately respond to Business Insider's request for comment.


Take a look inside the sprawling Martha's Vineyard home.



Barack and Michelle Obama just spent $11.75 million on a house on Martha's Vineyard, an affluent vacation island in Massachusetts, the Vineyard Gazette reported.

Ron Sachs Pool/Getty Images

The family bought the home through a nominee trust from Wycliffe Grousbeck, the owner of the Boston Celtics, and Corinne Basler Grousbeck, the Vineyard Gazette reported.

The Obamas have spent several summer vacations on Martha's Vineyard, and rumors have swirled for years that they were contemplating buying a home there.

The nearly 7,000-square-foot home sits on 29 waterfront acres overlooking Edgartown Great Pond.

Courtesy of LandVest

Source: LandVest Martha's Vineyard

The home has seven bedrooms and 8 1/2 bathrooms.

Courtesy of LandVest

Source: LandVest Martha's Vineyard

It comes with a modern chef's kitchen ...

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

... and a circular formal dining room with a wall of windows overlooking the grounds.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

The interior is decorated in neutral tones with natural wood accents.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

The living room features vaulted ceilings with exposed steel beams and a stone fireplace as the focal point.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

And there are several other seating and entertainment spaces throughout the home.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

The master bedroom features high ceilings and glass doors that open up to the outdoors.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

Listing photos show a minimalist bathroom with glossy white subway tiles.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

One of the bedrooms is set up with bunk beds for children or multiple guests.

Courtesy of LandVest Martha's Vineyard

Source: LandVest Martha's Vineyard

The home comes with multiple decks and balconies for sunbathing.

Courtesy of LandVest Martha's Vineyard