Barack Obama buys $11.7 million mansion in Martha’s Vineyard

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 at 79 Turkeyland Cove Road sits on 29.3 secluded acres fronting the Edgartown Great Pond between Slough Cove and Turkeyland Cove, with 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.

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In 2016 former President Barack Obama said that he and his wife, managed to pay in full their student loans only one year prior to entering the White House. Here is the video of that. Fast forward to 2019, and seems that now the Obama’s are worth 40 plus more times than they entered the White House. Congratulations Mr. President! Only in a capitalist system and only in America you would have been able to thrive the way you did.