Barack And Michelle Obama Close On Martha's Vineyard Home

MARTHA'S VINEYARD, MA — Barack and Michelle Obama have reportedly closed on a multi-million-dollar mansion on Martha's Vineyard. TMZ reported the former first couple bought the former home of Boston Celtics co-owner Wyc Grousbeck for $11.75 million.

The seven-bedroom mansion is nearly 7,000 square feet and sits on more than 29 acres. The Obamas rented the home while vacationing on Martha's Vineyard last summer. They began finalizing the purchase in August

TMZ reported the Obamas got a good price. The house had been on the market for four years and was initially listed for more than $22 million before the price dropped to $14.85 million. But according to real estate records, the Obamas got the house for millions less.

The property features a chef's kitchen, master suite with a fireplace, private sun deck with water view, pool, boathouse and other amenities.

The family frequently visited Martha's Vineyard during Obama's presidency, vacationing there every summer except for his re-election year in 2012. His daughter, Sasha, worked a summer job in 2016 at Oak Bluffs seafood restaurant Nancy's Restaurant & Snack Bar.