This archive report was first published on 7 December 2019.
On December 4, 2019, the property transfer documents for a luxurious beach house at Martha's Vineyard in Massachusetts were deposited at the Dukes County Registry of Deeds.
The 6,892-square-foot house, situated on 29.3 secluded acres, features a swimming pool, vaulted ceilings, outdoor fire pit, boathouse, and private beach.
Former US President Barack Obama and his family have been eyeing the property since 2018, when it was listed by Wycliffe Grousbeck, a private equity investor and owner of the Boston Celtics basketball team.
Initially valued at KSh 1.4 billion, the Obamas were able to negotiate the price down to KSh 1.1 billion.
According to Tom Wallace, one of the listing agents, the property has the capacity to expand into a compound, with the potential to build two additional full-size properties.
The Obamas fell in love with the home during their 2018 summer rental, and have now made it their own.
