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Martha's Vineyard estate once favored by the Obamas as a summer retreat has sold for $37 million, $2 million below its May asking price. The buyer is a trust tied to billionaire retail magnate Les Wexner, founder of L Brands and Victoria's Secret.
The 28.5-acre Chilmark property, known as Blue Heron Farm, had been off the market for over a decade after an extensive transformation under previous owners Norman Foster and his wife Elena Ochoa Foster. The Obamas rented the estate from 2009 to 2011, paying around $50,000 per week.
The Fosters purchased the property in 2011 for $22.4 million and renovated it, adding a new pool house and other modern amenities while preserving its historic charm. The estate features a 7,000-square-foot main residence, guesthouse, gym, tennis court, stables, and a relocated 150-year-old Pennsylvania barn.
Les Wexner's trust, managed by Matthew Zieger, closed the deal on July 10. Wexner has deep real estate ties in Ohio and Florida, where he owns additional property with his wife Abigail. His name has also been linked to Jeffrey Epstein due to their decades-long personal and professional relationship.
The Obamas later bought their own Martha's Vineyard home in 2019 for $11.65 million and maintain residences in Washington, DC, Chicago, and reportedly Hawaii. The sale of Blue Heron Farm marks the end of a deeply personal project for the Fosters, who had invested significantly in its renovations.
