Barack & Michelle Obama Buy Their Kalorama Washington D.C. Rental Home worth $8.1 Million

The former US president Barack Obama and former first lady Michelle Obama have officially purchased the renting Kalorama home for their post-White House stint, the couple have purchased the eight-bedroom, nine-and-a-half-bath home for $8.1 million.

According to property records, the former president and his family plan to spend at least another two-and -a-half-years in the nation’s capital,while their younger daughter, Sasha, finishes high school at Sidwell Friends. After leaving the executive mansion in January, said Kevin Lewis, spokesman to the Obamas.

“It made sense for them to buy a home rather than continuing to rent,” Mr. Lewis said in an email confirming the purchase.

Washington post report, Spokesman Kevin Lewis, in a statement, said the purchase just made sense for the family: “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.”

D.C. records show that Lockhart sold the home for $8.1 million to Homefront Holdings LLC, which is controlled by the Obamas. The deed transfer was recorded on Wednesday. Lockhart bought the home in 2014 for $5.295 million, records show.

The $8.1 million purchase price makes the Obamas’ new home the second-most expensive in the Kalorama neighborhood, behind the $23 million that Jeffrey P. Bezos, the Amazon founder and owner of The Washington Post, paid for the former Textile Museum.

According to mansionglobal, Kalorama is a popular spot for D.C. elite. Mr. Obama’s neighbors include top adviser to President Donald Trump Jared Kushner and his wife, Mr. Trump’s daughter Ivanka Trump, as well as Secretary of State Rex Tillerson.


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