The new home of Barack and Michelle Obama. It cost $11.75 million and is breathtaking

The new home of Barack and Michelle Obama.  It cost $11.75 million and is breathtaking

The house, called Martha’s Vineyard Estate, sits on an 11-acre plot and has seven bedrooms and nine bathrooms.

Former President Barack Obama and Michelle Obama purchased a seven-bedroom, nine-bathroom home in Edgartown, Massachusetts. The asking price for the 29-acre (11-hectare) estate was $11.75 million.

The property was purchased by a trust represented by attorney Ronald Rappaport, a partner at Reynolds, Rappaport, Kaplan and Hackney, according to US media reports. The trust is reportedly linked to the Obamas, but Attorney Rappaport did not comment on this.

Gerret Conover and Thomas LeClair, partners in LandVest Martha’s Vineyard (the selling company), were the listing and selling agents for the property. Conover confirmed that the property was previously owned by Wyc Grousbeck, owner of the Boston Celtics.

Records show the sale price was more than $3 million below the asking price. It was last offered for $14.85 million, but has seen several price reductions since its initial listing in February 2015.

Conover and LeClair repossessed the home from another agency in late May 2017, relisting the property for $19.25 million, records show. The price was then reduced to $16.25 million in May 2018, and then again in July 2019 to $14.85 million. Both agents declined to comment further on any other details of the sale. Grousbeck purchased the property in 1998 for $3.15 million.

Rumors that the Obamas are buying a house in Edgartown have been circulating since the summer, when the family rented the residence, The Wall Street Journal reported. Now family representatives have refused to comment.

The Obamas have been vacationing on Martha’s Vineyard for years, and they’re not the only politicians who enjoy coastal New England. Bill Clinton’s family spent time there, and former Secretary of State and Massachusetts senator John Kerry bought a home there in 2017. Red Gate Farm, the former estate of Jacqueline Kennedy Onassis, is currently on the market for $65 million, according to LandVest.

The home was designed by San Francisco-based Brandenburger Taylor Lombardo Architects, with multiple entertainment areas both indoors and outdoors. The living room features vaulted ceilings, exposed steel beams and a stone fireplace. There are two guest wings, and the master suite has a fireplace, private sundeck and water views. There is a chef’s kitchen with large built-in storage and a formal circular dining room overlooking the garden and pond.

Outside there is both a fireplace and a screened-in porch with a fireplace. The second-floor balcony has a swimming pool and jacuzzi with expansive water views. The property offers direct access to the lake and includes a boat house and a private beach.

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