Obamas buy $11.75M Martha's Vineyard vacation home. Take a look inside.

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Former President Barack Obama has reportedly closed on a luxurious Martha's Vineyard vacation home.

Dukes County, Massachusetts, land records listed the price as $11.75 million, a discount from the $14.85 million listing price. Gerret Conover and Thomas LeClair of LandVest, who brokered for seller Wyc Grousbeck, the owner of the Boston Celtics, declined to comment on the closing. But local newspaper the Vineyard Gazette reported the Obamas were the buyers.

The Obamas vacationed on Martha's Vineyard several times during his terms as president. The family spent Augusts there for seven of his eight years in office and last summer rented the home they just purchased, the Gazette reported.

The 29-acre waterfront property sits on a pond that’s separated from the Atlantic Ocean by a narrow sandy barrier beach.

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Here’s a look at the $11.75 million vacation home the Obamas reportedly bought on Martha’s Vineyard. (Credit: LandVest)

The 6,892-square-foot home includes seven bedrooms and nine bathrooms, according to the listing with LandVest. It was designed by the San Francisco-based Bradenburger Taylor Lombardo Architects and built by John Early, a local builder.

The "spacious and dramatic" living room includes vaulted ceilings with exposed steel beams and a stone fireplace that serves as a focal point, according to the listing. The formal dining room is circular and surrounded by windows looking at the property and the water.

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Here’s a look inside the $11.75 million vacation home the Obamas reportedly bought on Martha’s Vineyard. (Credit: LandVest)

The master suite includes its own fireplace and a private sundeck, according to the listing. Other bedrooms are spread between two guest wings.

There are a total of five fireplaces. One fireplace sits outside, while another is surrounded by a screened porch, according to the listing. The property also includes a pool, a second-floor balcony with a Jacuzzi, access to the water via a private beach and a boathouse.

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Here’s a look at the $11.75 million vacation home the Obamas reportedly bought on Martha’s Vineyard. (Credit: LandVest)

While the brokers wouldn't comment on the sale, they told FOX Business they've seen "a continued interest from buyers looking for generational, legacy type properties" on Martha's Island this year, such as Jackie Kennedy Onassis' 340-acre estate, which is currently listed for $65 million.