Former President Obama and former first lady Michelle ObamaMichelle LeVaughn Robinson ObamaJill Biden, Kate Middleton to meet this week Jill Biden to focus on military families on foreign trip Book claims Trump believed Democrats would replace Biden with Hillary Clinton or Michelle Obama in 2020 election MORE are reportedly buying a multimillion-dollar mansion on Martha’s Vineyard.

The 29-acre, nearly 7,000-square-foot estate, listed at $14.85 million, is owned by Boston Celtics co-owner Wyc Grousbeck, TMZ reports. It’s been on the market for four years and was initially listed for more than $22 million, according to


The Obamas are reportedly paying less than the current listing price, according to “multiple island sources,” but it is unclear how much they will spend, according to the outlet.

The presidential family rented Grousbeck’s seven-bedroom, 8 1/2 bathroom property when they vacationed on the island this summer, The Boston Globe reports.

The custom home also comes with a pool and boathouse, among several other features, according to a property listing.

The report comes after an Obama spokesman in 2017 denied claims that the family was thinking about investing in real estate on the Massachusetts island,  the Globe noted.