Martha’s Vineyard has upped its presidential pedigree.
According to reports, former President Barack Obama and Michelle Obama have purchased a seven-bedroom, nine-bathroom mansion in Edgartown, Massachusetts. The cost for the 29-acre estate was $11.75 million, public records reveal.
According to records made available Wednesday, the property was purchased by a trust represented by attorney Ronald Rappaport, a partner at Reynolds, Rappaport, Kaplan, and Hackney.
The trust is reportedly attached to the Obamas, but Mansion Global could not approve the connection. Mr. Rappaport did not return requests for remark.
Thomas LeClair and Gerret Conover, partners at LandVest Martha’s Vineyard, were the selling and listing brokers for the property. Mr. Conover approved the sale via email and that the estate was earlier owned by Wyc Grousbeck, owner of the Boston Celtics.
According to reports, the sale price was more than $3 million less than the asking price for the roughly 7,000-square-foot home on the Edgartown Great Pond. It was most newly listed for $14.85 million but has seen numerous price cuts since it was first recorded in 2015 for $22.5 million in February.
Mr. LeClair and Mr. Conover took over from another agency later in May 2017, relisting the estate for $19.25 million, records show. It was cut to $16.25 million in May 2018 and then again in July 2019 to $14.85 million. Both agents refused to comment further on any other aspects of the sale.