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A Martha’s Vineyard estate that was famously frequented by Barack and Michelle Obama has been sold for $37 million to billionaire businessman Les Wexner.
The property, known as Blue Heron Farm, was initially listed for $39 million by its former owners, Norman and Elena Foster, before being sold at a slight discount.
The estate features eight bedrooms, 5.5 bathrooms, a design studio, gym, tennis court, equestrian facilities, and a 150-year-old barn.
Wexner is the founder of L Brands and has a net worth exceeding $9 billion. The Obamas rented the estate for three summers, paying a reported $50,000 a week, before it was purchased by the Fosters in 2011.
Key Takeaways
- Blue Heron Farm, the Martha’s Vineyard estate previously enjoyed by the Obamas, has been sold to Wexner for $37 million, $2 million below the initial $39 million listing price.
- The property boasts luxurious amenities, including a main residence, guesthouse, pool house, private dock, and beachfront access, offering privacy and seclusion.
- Wexner, who has a net worth exceeding $9 billion, bought the property through a trust managed by his attorney.
- The Obamas rented the estate for several summers before purchasing their own property in the area in 2019, adding to their real estate portfolio that includes homes in Washington, DC, and Chicago.
- The property was extensively renovated and modernized by architect Norman Foster, who added a modern pool house and other amenities during his ownership before selling to Wexner.
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