- 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 7-bedroom home spans almost 7,000 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 was originally asking $14.85 million.
- The former first family has spent summer vacations on Martha's Vineyard, which is a popular summer destination for the wealthy.
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The Obamas reportedly just bought a $12 million house on Martha's Vineyard. Take a look inside the 7-bedroom waterfront mansion.
Ron Sachs-Pool/Getty Images; LandVest; Ruobing Su/Business Insider
Barack and Michelle Obama reportedly just spent $11.75 million on a house on Martha's Vineyard, an affluent vacation island in Massachusetts.
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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 possibly buying a home there since the former president left office.
The former first family reportedly bought the home through a nominee trust from sellers Wycliffe Grousbeck, who owns the Boston Celtics , and Corinne Basler Grousbeck, according to the Gazette.
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The 7-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.
See Also:
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- The Obamas reportedly just bought a $12 million home on Martha's Vineyard. They're worth 30 times more than when they entered the White House in 2008 here's how they spend their millions.
- Billionaire hedge-fund manager Steve Cohen is buying the New York Mets. Take a look inside the NYC condo that he recently sold for $30 million.
- Inside the luxury trailer park in the Hamptons, where trailers have ocean views and go for more than $1 million
SEE ALSO: The Obamas are worth 30 times more than when they entered the White House in 2008 here's how they spend their millions.
DON'T MISS: The Martha's Vineyard estate that Jackie Kennedy bought for $1 million in 1979 just hit the market for $65 million here's a look inside the property
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