In an update to a story reported earlier this year, former President Obama and his family are now permanent homeowners on Martha’s Vineyard, after completing the purchase today of a large home situated on nearly 30 acres in the coastal perimeter of Edgartown.
The purchase price, recorded at 3:31 p.m. with the Registry of Deeds, is listed at $11.75 million. The buyer is a nominee trust representing the former First Family. The sellers are Wycliffe Grousbeck and Corinne Basler Grousbeck. Mr. Grousbeck is a private equity investor and owner of the Boston Celtics basketball team.
The sprawling 6,892-square-foot house sits on 29.3 secluded acres fronting the Edgartown Great Pond between Slough Cove and Turkeyland Cove, which is on the private island of Martha’s Vineyard, off of Cap Cod, Massachusetts. The property has views of a barrier beach and the ocean beyond. Designed by Bradenburger Taylor Lombardo Architects in San Francisco, the home was built in 2001 by John Early, a well-known Island contractor.
Landvest was both the listing and selling broker for the sale; the principal brokers are Gerret Conover and Tom LeClair. Ronald Rappaport, a partner at Reynolds, Rappaport, Kaplan and Hackney, is listed as the attorney for the buyers, according to records at the Martha’s Vineyard Land Bank.
After having spent a part of August of this year taking it for a ‘test drive’ by renting the estate, the former first family, have made it officialm having received the keys to the mansion. The mansion and estate were initially listed for $14,850,000, but it is reported that the Obama’s paid a total of $11,750,000 for the 30 acre property.
More about the house from the official listing: This stunning custom home sits on over 29 +/- private acres directly on the Edgartown Great Pond. Custom-designed by Bradenburger Taylor Lombardo Architects from San Francisco, and built by reputable Island builder, John Early, this unique & lavish home is in a league by itself. The long and winding driveway, sprawling lawn and incredible water views make for the perfect family compound setting for generations to come. The nearly 7,000 sq ft main residence is finished with the finest details and is designed with 7 bedrooms, and 8.5 baths, multiple seating and entertaining spaces, a modern Chef’s kitchen, and a formal circular dining room surrounded by a wall of windows overlooking the grounds. The spacious and dramatic living room space boasts vaulted ceilings with exposed steel beams and a focal point stone fireplace. There are two guest wings and an impressive master suite with fireplace, private sun deck and spectacular water views. Your summer days can be spent poolside in a garden-like setting with the sounds of the waves lapping in the distance, or exploring the expansive Great Pond and outer barrier beach for a full day on the water. A property of this stature needs to be seen to be experienced.