Tags: Barack Obama | Washington | real estate | million | Kalorama

Obamas Fork Over $8.1 Million to Purchase DC Home

Obamas Fork Over $8.1 Million to Purchase DC Home
A moving truck is seen outside President Barack Obama 's home in Washington, D.C.'s Kalorama neighborhood. (AP Photo/Olivier Douliery)

By    |   Wednesday, 31 May 2017 08:52 PM

Former President Barack Obama and his wife Michelle have purchased the Washington, D.C., home they have been renting since they left the White House.

The Washington Post reported the sale between a holding company controlled by the Obamas and former White House press secretary Joe Lockhart was finalized Wednesday.

The 8,200-square-foot home sold for $8.1 million, far more than the $5.295 million Lockhart and his wife Giovanna Gray paid for it in 2011.

The Obamas plan to stay in the nation's capital for at least the next few years while their youngest daughter Sasha finishes high school at nearby Sidwell Friends.

"Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent property," Obama spokesman Kevin Lewis told the Post.

The home is in Washington's Kalorama neighborhood, home to several embassies and D.C. power players. Among the Obamas' neighbors are Ivanka Trump and Jared Kushner, who work in President Donald Trump's White House.

The Obamas' house is the second most expensive in Kalorama behind Amazon founder Jeff Bezos' $23 million purchase in January of the old Textile Museum.

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Former President Barack Obama and his wife Michelle have purchased the Washington, D.C., home they have been renting since they left the White House.
Washington, real estate, million, Kalorama
200
2017-52-31
Wednesday, 31 May 2017 08:52 PM
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