Former President Barack Obama and former first lady Michelle Obama have purchased a nearly 7,000-square-foot home on Martha’s Vineyard in Massachusetts for $11.75 million, according to a report.
The purchase price was recorded Wednesday with the local Registry of Deeds, the Vineyard Gazette reported.
The Obamas paid about half the original asking price for the property when it first became available in 2015, the report said.
The sellers were listed as Wycliffe Grousebeck, owner of the Boston Celtics basketball team, and his wife Corinne Basler Grousbeck.
The house is located in the Edgartown section on the eastern end of the island and sits on a property of more than 29 acres, the Gazette reported.
SEE ALSO: Obama Buys $14 Million Martha’s Vineyard Mansion – But, But, Sea Level Rise!
It includes seven bedrooms, eight and a half bathrooms, and several stone fireplaces, as well as a two-car garage, a barn, and a swimming pool.
The Obamas had rented the property during the summer, the report said. The couple reportedly had made an offer on the property in August.
Attorneys for the Grousebecks would not comment on the transaction.
The Obamas previously purchased a nine-bedroom house in Washington, paying a reported $8.1 million.
The Obamas have entered some lucrative business deals since leaving the White House.
Michelle Obama received a $65 million advance for her memoir, “Becoming,” while the pair also negotiated a $50 million deal with Netflix to develop programming.
In addition, the former first lady reportedly commands a speaking fee of $225,000. She and her husband are said to have a net worth of $135 million.
Read more at Fox News
I’m amazed that so many US presidents end up as multi-millionaires. A $65 million advance on a book deal? Who even reads this stuff? Speaking fees in excess of $200,000? What information do their speeches convey that can possibly be worth that much?
Obama isn’t stupid. Notice that he bought the property for half the original asking price, after scaring off prospective buyers with his rising oceans scam.
Lemme guess, 0bama’s gonna remodel the property by lifting the house up onto 30 foot stilts to be ready for that 20 foot sea level rise Algore prophesied.
29 acres is plenty of room for a wind turbine surrounded by solar panels. Idyllic. Their neighbors would love the virtue signalling.
If the Obama’s are able to buy storm or flood insurance for that property, they have very little to worry about. They might even be hoping that predictions of coming sea-level rise are too low.
If Global Warming/Climate Change were real they would be living further inland like Arkansas Proof the Global Warming/Climate Change is a Scam