Obamas buying $14.85M Martha's Vineyard estate from Celtics owner Wyc Grousbeck

Obamas Martha's Vineyard

Barack and Michelle Obama are buying a $15M estate in Martha's Vineyard

The Obamas frequently vacationed on Martha's Vineyard when he was in office. And the house that they're allegedly in contract to purchase?

The former first family rented that same property last summer and enjoyed it so much they made a decision to purchase it. The house now belongs to Wyc Grousbeck, owner of the Boston Celtics.

In 2017, a spokesman for the Obamas denied that they were looking to buy on the MA island that they visited each year during his presidency.

Grousbeck initially put the palatial property on the market in 2015 for $22.5 million.

The former president, who once scolded Wall Street executives by saying, "I do think at a certain point you've made enough money", is potentially suffering from wealth anxiety, which could explain why he has chose to give so much money to such a worthy cause.

The Obamas regularly visited the island during the former president's tenure in the White House, and according to sources on the island, the Obamas became enamored with the estate after renting the main residence, which is just under 6,900 square feet and has seven bedrooms, over the summer.

The Obamas will bunk in the master suite, which has a fireplace and private sun deck.

Should they go through with the purchase, the Obamas will join a wave of celebrities buying and selling their homes this summer, including a Kennedy-owned property also on the Vineyard, and a former home of current president Donald Trump, a CT chateau that has yet to sell despite a $15.5-million-dollar price cut.

Latest News