Overview of the Chilmark estate
A remarkable estate in Chilmark, once cherished by the Obama family during their summer retreats, is currently on the market for a staggering $39 million. Situated on a sprawling 28.5 acres near the serene Tisbury Great Pond, this luxurious residence presents a rare opportunity for buyers looking to invest in both a piece of recent history and a stunning summer getaway.
Real estate significance
According to reports from The Wall Street Journal, a prominent New York real estate agent has taken on the listing for this exquisite property. If it sells at the asking price, it could mark the most expensive residential sale ever recorded in Martha’s Vineyard. The current record is held by a 186-acre estate sold for $32.5 million in 2019, which adds to the allure of this Chilmark offering.
Property features and amenities
This stunning residence boasts four spacious bedrooms, each providing breathtaking views of Town Cove and the Tiasquam River as it flows into the bay. Beyond the main house, the estate includes two additional residences, a charming barn, a sparkling pool, a state-of-the-art gym, a private golf course, and tennis courts. With private beach access, this property truly embodies the essence of a summer paradise.
Owners and history
The current owners of this luxurious estate are renowned British architect Norman Foster and his wife, Elena Ochoa Foster. Previously, while the Obamas were enjoying their time at the property, it was owned by William and Molly Van Devender, who purchased it in September 2005 for $19.94 million. This history adds an intriguing layer of prestige to the already impressive listing.
Investment potential
In 2019, the Obama family transitioned to a new home in Edgartown, also located in Martha’s Vineyard, for $11 million. This move signifies a strategic investment in a property that serves as a gathering place for relaxation and family time. The Chilmark estate not only represents a luxurious living space but also offers a compelling investment opportunity.
Why invest in Martha’s Vineyard?
The Martha’s Vineyard area is celebrated for its natural beauty and exclusivity, attracting a high-profile clientele of both visitors and residents. Owning a property like the Chilmark estate could prove to be a wise financial decision in the long run, as the demand for premium real estate in this picturesque locale continues to rise.
With its rich history, stunning features, and exclusive location, the Chilmark estate is more than just a home; it’s an investment in a lifestyle and a legacy. Interested buyers are encouraged to explore this unique opportunity and consider what it means to own a piece of the Vineyard’s storied past.