The Obama family vacations at Martha’s Vineyard while he was president were well covered. So, it’s not that surprising to find they dropped a little of the extra cash they’re accumulating to purchase their own residence there.

According to People, the 6,892-square-foot Martha’s Vineyard estate was sold recently for $11.75 million to a trust. James F. Reynolds, a longtime friend of Barack Obama who also served as a member of his national finance committee during the 2008 presidential election, is named as a trustee on the deed.

The Obamas reportedly purchased the property from Wycliffe Grousbeck, owner of the Boston Celtics, and his ex-wife, Corinne Basler Grousbeck, who bought the home in 1998. The property has been on the market since 2015.

Situated on 29.3 waterfront acres near the Edgartown Great Pond, the impressive estate, which was built in 2001, features seven bedrooms, eight bathrooms, and a powder room. It also boasts an elegant master suite complete with a fireplace, as well as two guest wings, a two-car garage, a sun deck, boathouse, and a pool.

The quaint Massachsetts town has long been a vacation destination for the elite, and we’re assuming this house will serve a similar purpose. However, still no word on the couple setting up more permanent roots outside of Washington D.C. They rented a home in D.C. after they left the White House and said they would stay there until youngest daughter Malia finished high school. Well, Malia graduated last spring and is now off to college, so that leaves us wondering: where to?

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