Former President Barack Obama and First Lady Michelle Obama are in escrow to purchase Boston Celtics owner Wyc Grousbeck’s 29-acre Martha’s Vineyard estate, according to a report from TMZ. 

The seven-bedroom, eight-bath oceanfront mansion spans 6,892 square feet and is listed for sale for $14.85 million.

For more photos of the property, click here.

Tom LeClair and Gerret Conover of luxury residential brokerage LandVest are the home’s listing agents. LeClair and Conover also list Red Gate Farm, the 340-acre Martha’s Vineyard estate of former First Lady Jacqueline Kennedy Onassis, which is priced at $65 million. You can read more about that property here.

Grousbeck initially listed 79 Turkeyland Cove Road in August 2015 for $22.5 million, but has since cut the price, realtor.com reported last year.

79 Turkeyland Cove Road
79 Turkeyland Cove Road
Courtesy: LandVest via coldwellbankerhomes.com

The waterfront estate was custom designed by San Francisco’s Bradenburger Taylor Lombardo Architects and built in 2001 by John Early, its listing states.

Features of the home include multiple seating and entertaining spaces; two guest wings; a master suite with fireplace, private sun deck and water views; as well as an outdoor pool.

“This unique and lavish home is in a league by itself,” the listing states. “The long and winding driveway, sprawling lawn and incredible water views make for the perfect family compound setting for generations to come.”

The Obama family frequently vacations on Martha’s Vineyard, and Malia Obama is a student at Harvard University in Cambridge.

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