Money & Banking
Inside Michelle and Barack Obama’s new $17 million mansion
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Michelle and Barack Obama have been known as regulars at Martha’s Vineyard, with annual visits to the Massachusetts island since their time in the White House. Now the couple are making things more permanent with the purchase of a mansion they rented over the summer.
The US$11.75 million property (AU$17.2 million) was sold last week to a trust, People reported. James F Reynolds, Chicago investment banker and longtime friend of Barack Obama, is also named as a trustee on the deed.
The Edgartown home spans 6,892 square feet (640 square metre) and features seven bedrooms and eight-and-a-half baths as well as a number of stone fireplaces, two guest wings, a sun deck, boathouse and a pool.
Photo credit: LandVest