The ex-first family plunked down $11.75 million this week for a nearly 7,000-square-foot abode in Edgartown, Mass., according to the Vineyard Gazette.

The seven-bedroom, eight-and-a-half-bathroom home features two guest wings, a master suite with a fireplace, a private sun deck, a boathouse, a pool and vaulted ceilings. A real estate listing for the luxury digs boasts, "The long and winding driveway, sprawling lawn and incredible water views make for the perfect family compound setting for generations to come."

The 29-acre mansion had been on the market for four years and was originally listed for more than $22 million, according to

The sellers are reportedly Boston Celtics owner Wycliffe Grousbeck and his ex-wife, Corinne Grousbeck. 

The Obamas have been frequent visitors to Martha's Vineyard and made it an annual vacation destination for their family while living in the White House. 
Staying at their new pad won't be totally unfamiliar to the ex-executive mansion residents — they rented the home when they vacationed on the island this past summer.