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Obamas new house cost


Barack & Michelle Obama Martha's Vineyard Mansion, House Details, Photos, Price

Update, August 4, 2021: After a media storm erupted this week over former President Barack Obama's plans to host a huge 60th birthday party at his Martha's Vineyard estate, he has abruptly canceled the event, which was to take place this Saturday. “Due to the new spread of the Delta variant over the past week, the President and Mrs. Obama have decided to significantly scale back the event to include only family and close friends,” his spokesperson Hannah Hankins said in a statement. “He’s appreciative of others sending their birthday wishes from afar and looks forward to seeing people soon.” According to the New York Times, a number of high profile guests on the 475-person list, which included donors, administration officials, and celebrities, were already en route to Martha's Vineyard. Although the Obamas took some heat this week for planning such a massive gathering in the midst of a pandemic, David Axelrod, the former senior advisor to the president, told the newspaper that the power couple had been concerned about the virus from the beginning and keen on taking all the necessary precautions, such as requiring vaccinations and a pre-party Covid test. "“But when this was planned, the situation was quite different. So they responded to the changing circumstances," he said.

Update, August 3, 2021: It was revealed earlier this week that former President Barack Obama is planning on throwing a blowout birthday party at his and Michelle's sprawling Martha's Vineyard estate this weekend—he turns 60 on August 4. There will reportedly be nearly 700 people in attendance, including a guest list of 475 (Oprah, Steven Spielberg, and George Clooney rumored among them) and a staff of 200. Though the fete will be outdoors and everyone will have to be vaccinated, the event has inevitably drawn controversy, especially with the alarming rise of the Delta variant and ever-changing guidelines issued by the CDC. But with 29.3 acres of pristine waterfront real estate, space—and social distancing—may not be much of an issue.

In light of this news, we're resurfacing this story from December 2019, which goes into more detail on the Obamas' Martha's Vineyard property.

It's no secret that Michelle and Barack Obama enjoy spending down time at Martha's Vineyard, a quaint Massachusetts island that everyone from the Kennedys to the Clintons has visited. It's been an annual vacation destination for the Obama family since their time in the White House, but now they're putting down roots with the purchase of a gorgeous mansion that they rented over the summer.

According to People, the 6,892-square-foot Martha's Vineyard estate was sold on Wednesday 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.

The Obamas’ new property on Martha’s Vineyard.

LandVest

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.

With these standout features, there is no doubt that Barack and Michelle Obama, along with their children, Sasha and Malia, will continue to enjoy memorable stays on Martha's Vineyard for years to come.

The spacious living room features a stone fireplace.

LandVest

Monique C. Valeris

Senior Home Editor

Monique Valeris is the senior home editor for Good Housekeeping, where she oversees the brand's home decorating coverage across print and digital. Prior to joining GH in 2020, she was the digital editor at Elle Decor. In her current role, she explores everything from design trends and home tours to lifestyle product recommendations, including writing her monthly column, "What's in My Cart. "

Leena Kim

Editor

Leena Kim is an editor at Town & Country, where she covers travel, jewelry, education, weddings, and culture.

Obamas buy Martha’s Vineyard mansion for $11.75 million – Chicago Tribune

Former President Barack Obama and former first lady Michelle Obama continue to expand their real estate holdings outside Chicago, with the closing Wednesday of their $11.75 million purchase of a seven-bedroom, 6,892-square-foot mansion on 29.3 acres in Edgartown, Massachusetts, on Martha’s Vineyard.

Public records in Dukes County, Massachusetts, show that a land trust that bears the name of the estate’s street address paid $11.75 million for the estate and also took out a $7.05 million mortgage from J.P. Morgan for the property. The trustee of that trust is James F. Reynolds, a lawyer in Edgartown.

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The Obamas bought the estate from Boston Celtics lead owner Wyc Grousbeck and his former wife, Corinne, who first had listed it for $22. 5 million in 2015 and then cut their asking price to $16.25 million in August 2018. In July, they cut their asking price to $14.85 million.

The Grousbecks paid $3.15 million for the property in 1998 and built the mansion several years later, according to public records. The architectural firm that designed the mansion was Brandenburger Taylor Lombardo Architects of San Francisco, according to the Vineyard Gazette.

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The Grousbecks’ listing agents, Gerret Conover and Thomas LeClair of LandVest Martha’s Vineyard, declined to comment on any aspects of the sale. They only were willing to say 2019 was a year full of record sales on Martha’s Vineyard, along with generally strong interest from buyers for properties on the island.

[ See inside more celebrity homes here ]

The Obamas had rented the estate this past summer and had been longtime summer guests on Martha’s Vineyard, renting homes there for all but one of the years that they occupied the White House. Features in their new mansion include eight baths, vaulted ceilings, a living room with a stone fireplace, a master suite with a fireplace and a private sundeck, an outdoor fireplace, a pool and two guest wings. The L-shaped property also has a private beach and a boathouse on Edgartown Great Pond, which is in the southeast corner of Martha’s Vineyard.

The other two properties that the Obamas own are their six-bedroom, 6,243-square-foot mansion in the South Side Kenwood neighborhood, which they purchased for $1.65 million in 2005, and their nine-bedroom, 6,441-square-foot mansion in Washington, D.C.’s, Kalorama neighborhood, which they purchased from onetime White House press secretary Joe Lockhart and his wife, Giovanna, in 2017 for $8.1 million.

Also, earlier this year, Michelle Obama rented a seven-bedroom, 12,800-square-foot contemporary-style mansion on Swallow Drive in Los Angeles’ Hollywood Hills, which has an open-air shark aquarium, a humidor room and a movie theater. That mansion remains on the market for $22.9 million.

The Obamas’ Martha’s Vineyard purchase first was reported by the Vineyard Gazette.

Bob Goldsborough is a freelance reporter.

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90,000 Barack Obama rented a luxury house for 5.3 million. PHOTO

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The politician intends to stay in Washington. Barack Obama and his family will rent a luxurious mansion in one of the most sophisticated areas of the American capital. Western journalists assume that the ex-head of state will settle there for at least a year.

January 24, 2017 01:0007 932

Barack Obama

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On January 20, the inauguration of the 45th President of America, Donald Trump, took place in Washington. At this solemn ceremony, Barack Obama resigned and left the White House, where he lived with loved ones for eight years.

According to Western publications, Obama has already looked after himself a new apartment. The family of the ex-head of the United States plans to settle in Kalorama, one of the fashionable districts of Washington. The politician intends to rent a luxurious house worth about $5.3 million. Previously, the mansion, located only two miles from the White House, was put up for sale, but after some time the owner decided to rent it out.

Barack Obama's new house is reported to have nine bedrooms. The name of the owners of this property is also known - they are the former press secretary of the White House Joe Lockhart, as well as his wife Giovanna Grey, editor of a popular glossy publication in America.

The mansion that the Obama family will move into was built in 1928. It has everything you need for a comfortable life - eight bathrooms, a living room with a fireplace, sparkling hardwood floors, an office, exercise equipment, stunning gardens, a dressing room and a garage designed for several cars.

For how long Barack Obama decided to settle in an elegant house is still unknown. Correspondents suggest that the politician intends to wait until his 15-year-old daughter Sasha finishes school.

Barack Obama's new family home

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Recall that on the evening of January 10, Barack Obama delivered a farewell speech, during which he summed up his tenure as president and shared his wishes for the new administration. The politician made it clear that he did not intend to completely withdraw from business. He said that he was going to stay in Washington and speak out on issues of concern to the population, including, for example, the topic of illegal immigration and health care reform. Obama also thanked close people who continue to support him.

“Michelle Lavon Robinson, South Side girl. For the past 25 years, you have been more than just my wife and mother to my children. You remained my best friend. .. You became an example for a new generation of people. I am proud of you, and the whole country is proud of you. Malia and Sasha In the strangest circumstances, you managed to grow into beautiful girls. You are smart and beautiful. But more importantly, you are kind, caring and very sensitive ... Of everything that I have done in my life, I am most proud to be your dad, ”the former head of the United States shared.

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What real estate Barack Obama owns

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    On November 4, 2008, Democratic presidential candidate Barack Hussein Obama was elected to the presidency. January 20, 2009The inauguration ceremony of the 44th President of the United States will take place this year.

    After the Illinois senator's victory in the country's presidential election, the National Association of Realtors (NAR) hastened to declare that Obama's rise to power should stabilize the US economy and help buyers return to the country's real estate market. Major international real estate agency Hamptons International is confident that if a black politician delivers on his campaign promises and brings change to the US housing market, it will have a positive impact on markets around the world, as the United States is the trendsetter of economic trends.
    At least the first positive shifts in this direction have already begun. Recently, the US Senate allowed the future administration of Barack Obama to use the second half of the $700 billion anti-crisis financial reserve proposed by the George W. Bush team. Obama said the money will be used to implement his package of anti-crisis reforms, which includes assistance to homeowners who may lose their homes for mortgage debt.
    Where does Obama live?
    Many people who want to know more about the personal life of the first African-American president in US history are interested in the question: where does Obama live? Prior to his official move into the residence of American presidents - the White House - Obama, along with his wife Michelle and two daughters, lived in the Kenwood area of ​​Chicago at 5046 South Greenwood Avenue. In 2005, the country's future president bought the Georgian Revival house for $1.65 million. It was rumored that real estate developer Tony Rezko, one of Obama's campaign sponsors, was involved in the deal. In June 2008, the developer was convicted of real estate fraud.

    The 44th President of the United States and his family on the front porch of his home in Kenwood, Chicago
    (photo www.dailymail.co.uk)
    According to the Chicago administration, after Obama's election victory, tourists and neighbors began to gather around his house to get a glimpse of the new US president. For safety reasons, concrete barriers had to be erected throughout the street. There were police cars at the intersections. Hiking has been banned, and some neighbors can no longer drive down the street in their cars.
    Barack Obama's childhood home in Jakarta, where the future US president lived from 1970 to 1972, when his mother Ann Dunham remarried, has also become very popular, even before Obama was elected head of state. The market value of the former two-bedroom guest house that Obama lived in, the main colonial-style residence next door, and a 1,200-sq. m, according to local developers, is $ 3 million. One of the officials of the US Embassy in Indonesia offered to pay for this property five times its market value if Obama wins the election. The further fate of the object is still unknown.

    Obama's childhood home in Jakarta suddenly became five times more expensive
    (photo from www.irrawaddy.org)
    After the completion of the presidential race in the United States, Barack Obama and his family decided to relax in the town of Kailua in Hawaii, a 30-minute drive from Honolulu, where he was born on August 4, 1961. The family of the 44th president rented a one-story mansion with five bedrooms, a swimming pool and an outdoor veranda overlooking the beach. In January last year, the mansion was bought by a certain American from Houston for $9.million and has been rented out ever since. Perhaps the fact that Barack Obama rested in this house will raise the value of the building in the event of its further sale.
    Built by black slaves
    After the inauguration ceremony, the new US president and his family will move to the White House for the next four years (and maybe more). An interesting fact: 400 of the 600 workers who worked on the construction of the residence of American presidents and the building of the US Congress were black slaves. According to presidential historian Doug Brinkley, "one of the first lady's ancestors, Michelle Obama, was also a slave, and the fact that her children will sleep at the presidential residence cannot but be reassuring."
    Another curious detail. Zillow.com, the largest real estate appraisal website in the United States, indicated the approximate cost of the White House, taking into account the current realities in the country's real estate market. According to the conclusions of the portal experts, the main residence of American presidents is the most expensive residential property in the country. Its estimated price has reached an incredible figure - $ 308,058,000.

    Barack Obama on the threshold of his new White House (photo of the portal www.msnbc.msn.com)
    In the "mansion" with an area of ​​5,110 sq. m 132 rooms, including 16 bedrooms, 35 bathrooms and 3 kitchens. It also has 18 acres of land adjacent to it. Zillow.com calculated that if you take out a standard mortgage on this “house” for 30 years at a fixed rate of 6% per annum and with an initial payment of 20%, then the monthly payments on it will amount to $ 1.48 million. Barack Obama’s annual salary, between however, does not exceed $400 thousand. Thus, this "housing" will not be affordable for him.
    Michelle Obama, like a real hostess, has already announced that she will try to make the White House "suitable for the whole family." To this end, the first lady turned to the most famous US interior designer Michael Smith, who has worked for supermodel Cindy Crawford, actress Michelle Pfeiffer, actor Dustin Hoffman and film director Steven Spielberg.
    In an interview with an interiors magazine, Smith said that his work will be guided by "the interest (of the Obama family) in the work of American artists of the 20th century and their commitment to casual style." Smith's own style has been described as "an Old World European influence filtered through a vibrant California sensibility".
    Dark aura of the White House
    However, before moving into the White House, Obama needs to turn to the services of feng shui masters. At least that's what New York realtor and science expert Debra Dunayer thinks so.
    Ms. Dunayer is sure that the residence of American presidents, in which various dramatic events have taken place over the years, has been “settled” by negative energy and negative vibrations. To eliminate them, the Feng Shui practitioner suggests installing aquariums and fountains in rooms that face the southwest, west, northwest and northeast. The walls of these rooms should be painted red, pink or peach.
    In addition, after the departure of the Bush administration, doorknobs in the White House should be replaced or washed with warm water and sea salt. It is desirable to smoke the building itself with smoke until all evil spirits are expelled from there. To improve the circulation of Chi energy in the building, the new president should first of all install a stereo system and listen to his favorite music.
    Unfortunately, Barack Obama's reaction to Ms. Dunyer's proposal has not been made public. (In the event that the 44th President of the United States follows the advice of the practice of feng shui, the portal "Prian.

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