Obamas buy 8,200-square-foot mansion in DC’s Kalorama area
Former President Barack Obama and former first lady Michelle Obama have purchased the home they were initially renting in an exclusive area of Washington, DC following their exit from the White House, it was reported on Wednesday.
The 44th president and his family are now the owners of the 8,200-square-foot mansion located in the Kalorama section of the capital after buying the property for $8.1million, The Washington Post, which cited public records, reported on Wednesday.
The former first family reportedly intends to remain in DC while their younger daughter, Sasha, completes her high school at Sidwell Friends.
The Obamas also own a home in the Hyde Park section on Chicago’s South Side.
Former President Barack Obama and former first lady Michelle Obama have purchased the home they were initially renting in an exclusive area of Washington, DC following their exit from the White House
The Obamas wish to stay in the Washington, DC area while their younger daughter, Sasha (second from right), finishes high school. Former President Obama is seen above (second from left) holding his daughter Malia’s hand
After Obama left office on January 20, he and his family took up residence at the home which belonged at the time to Joe Lockhart, a former press secretary in the Clinton administration.
The home features separate dressing rooms and his and her bathrooms, entertaining space, and a tranquil garden.
The home was built in 1928 and features eight bedrooms and nine-and-a-half bathrooms.
A spokesperson for the former president said the decision to buy the home was an easy one to make.
The 44th president and his family are now the owners of the 8,200-square-foot mansion located in the Kalorama section of the capital after buying the property for $8.1million
After Obama left office on January 20, he and his family took up residence at the home which belonged at the time to Joe Lockhart, a former press secretary in the Clinton administration
The home features separate dressing rooms and his and her bathrooms, entertaining space, and a tranquil garden
‘Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent property,’ the spokesman, Kevin Lewis, said in a statement.
The Post cited records which indicate that Lockhart sold the house for $8.1million to Homefront Holdings LLC, a limited liability company controlled by the Obamas.
The sale represents a significant profit for Lockhart, who initially bought the house for $5.295million in 2014, according to the Post.
The $8.1million purchase is the second largest for a home in Kalorama, according to the Post.
Although the Obamas legally reside in Kalorama, they haven’t spent much time there since the former president’s two terms as commander-in-chief came to an end. The former president is seen above alongside German Chancellor Angela Merkel in Berlin last Thursday
The most expensive real estate transaction ever recorded in the neighborhood was the purchase earlier this year of the old Textile Museum by Jeff Bezos, founder of Amazon and the current owner of the Post.
Bezos and his wife, McKenzie, paid a whopping $23million for the property – which is considered the largest home in Washington, DC.
Kalorama is regarded as one of the most upscale neighborhoods in the capital.
Some notable residents who have put down roots in Kalorama include Jared Kushner and Ivanka Trump, Secretary of State Rex Tillerson, and former defense secretary Donald Rumsfeld.
Although the Obamas legally reside in Kalorama, they haven’t spent much time there since the former president’s two terms as commander-in-chief came to an end.
The most expensive real estate transaction ever recorded in the neighborhood was the purchase earlier this year of the old Textile Museum by Jeff Bezos, founder of Amazon and the current owner of The Washington Post
Bezos (left) and his wife, McKenzie, paid a whopping $23million for the property – which is considered the largest home in Washington, DC
The former first couple have been jet-setting across the globe – vacationing and speaking in a number of locales including the British Virgin Islands, French Polynesia, Milan, Tuscany, and Germany.
Last week, Obama gave a speech at a charity dinner in Edinburgh.
The event, which drew a large number of business leaders, was organized by philanthropist Sir Tom Hunter.
from WordPress http://ift.tt/2rrevCi
via IFTTT
0 Comments