Get ready, Martha’s Vineyard — Barack and Michelle Obama are coming your way. According to the New York Post, the couple is close to sealing the deal on a $14.85 million, seven-bedroom, eight-bathroom estate located on the island’s south shore.
The couple has spent a majority of the summer at the 6,892-square-foot estate, which overlooks the Edgartown Great Pond. The picturesque compound is fitted with a chef’s kitchen, a master suite complete with a custom fireplace and sun deck, an outdoor shower and pool, an expansive garden, and private access to the beach.
Tom LeClair and Gerret Conover with LandVest Martha’s Vineyard are brokering the deal, but no more details are known because the estate is classified as an exclusive listing on LandVest’s website.
The agents have refused to talk to media outlets about the purchase, but rumors are the Obamas might be able to purchase the home for well under the $14.85 million asking price.
The home originally went on the market in 2015 for $22.5 million, but failed to attract any buyers. The original listing agent told realtor.com in 2015 that the home could be sold if the seller, Boston Celtics owner Wyc Grousbeck, made a few additions.
“It certainly has the capacity to expand to more of a compound,” said the agent, who remains unnamed. “One could build two additional full-size properties if one wanted to create a generational meeting place.”
This sale is most likely a dream come true for the former president, who frequently vacationed on Martha’s Vineyard throughout his presidency. The Obamas’ favorite spot was “The Chilmark House,” a 7,000-square-foot estate that provided the former first family access to a private beach, among other things.
According to a previous Inman report, “The Chilmark House” was valued at $2.5 million before the Obamas chose it as their favorite vacation spot. The home, which came to be known as the “Summer White House,” was sold for $18 million last June.
This is the second home purchase the Obamas have made since 2017. The couple moved into an $8.1 million Washington, D.C., mansion while their youngest daughter, Sasha, finished high school. They also own a home in Chicago’s Hyde Park.