Blue Heron Farm Chilmark, OBama Summer Vacation Home Sold For $21+ Million

The house/farm where President OBama and family have spent there last three Summer vacations on Martha's Vineyard has sold for $21.925 million. MORE DETAILS TO FOLLOW.. Here is the full story as reported by the Vineyard Gazette.
Blue Heron Farm, the Chilmark estate that President Obama and his family have rented for three past summer vacations, was sold last week for $21.9 million. The gentleman’s farm will be occupied by a high-profile European couple, Lord Norman and Lady Elena Foster of Thames Bank in Great Britain.

Lord Foster, who designed the new Wembley Stadium and 30 St. Mary Axe, the cylindrical building in downtown London known as the Gherkin, is considered to be one of the world’s most successful architects. Lady Foster is an accomplished academic and the founder of several arts publications. Hers is the only name that appears in connection with the real estate transfer, the bulk of which was handled through a limited liability corporation.

The transaction was complicated and involved two separate deeds in as many days, and designed to preserve anonymity. On Nov. 22, Blue Sky MV LTD, a real estate investment corporation organized in late October, purchased 28.5 acres in Chilmark and 3.7 noncontiguous acres in West Tisbury for a total of $21.925 million. One day later, Lady Foster purchased an accompanying .3-acre Quansoo Beach lot for $475,000 in her maiden name, Maria Elena Pia Fernandez Lopez de Ochoa.

At $22.4 million, the price ranks among the highest paid for a single-family home on the Vineyard.

The sale was handled by Tom Wallace, a principal in Wallace and Co. Realty Sotheby’s International. Mr. Wallace, who also handled the rentals to the Obamas, would not comment on the identity of the Blue Heron Farm buyers. However, the transaction mirrors another Mr. Wallace oversaw in 2005, when Mississippi businessman William Van Devender purchased Blue Heron Farm through a limited liability corporation. Because the Quansoo Beach Association does not allow buyers to organize their sales under blind corporations, Mr. Van Devender purchased the same Quansoo parcel using his and his wife’s full name.

The transfer of ownership marks the latest chapter in Blue Heron Farm’s storied history, made all the more public since the First Family’s stay.

In 1991, the late Vineyard philanthropist M. Anthony Fisher purchased much of the land that comprises Blue Heron Farm for $1.2 million. Over the course of several years, he amassed additional property and hired Vineyard contractors to build and renovate existing structures on the site. Today, the property, which fronts a cove on Tisbury Great Pond, includes two full-sized homes, a boathouse, a 150-year-old barn that was brought in from Pennsylvania and reassembled, a riding ring, tennis and basketball courts, multiple gardens and an apple orchard. A white clapboard farmhouse on the property was inspired by the home in the Kevin Costner movie Field of Dreams.

Then-president Bill Clinton and his wife, Hillary, attended a dinner party on the property in the summer of 1998.

Mr. Fisher and his wife, Anne, were killed in a plane crash in 2003.

Mr. Van Devender, one of the original investors of the Vineyard Golf Club, purchased Blue Heron Farm from the estate of Mr. Fisher in 2005 for $20.35 million.

Wallace & Co. managed Blue Heron Farm for the past three years for the Van Devenders, renting it out on a limited basis. The First Family spent 10 days in the farmhouse this summer.

The Van Devenders put the property on the market in September for an asking price of $23.7 million. In conversation with the Gazette at the time, Mr. Wallace said the Van Devenders decided to sell because they have been spending less time on the Island. “I think their plans include spending more time on the West Coast for a variety of reasons,” he said.


Though Blue Sky MV documents indicate that Wallace & Co. will continue to manage Blue Heron Farm, it is understood that the Fosters will not rent out the estate. Lord and Lady Foster maintain several residences both in North American and abroad, and their respective business interests are headquartered overseas.

Lord Foster is founder and chairman of the 600-person architectural firm Foster + Partners, based in London. A champion in his field, he has been awarded the Pritzker Architecure Prize, Praemium Imperiale Award for Architecture, the American Institute of Architects Gold Medal for Architecture, the Royal Gold Medal for Architecture and the Gold Medal of the French Academy of Architecture. He was granted a knighthood in 1990 and was honored with a life peerage in 1999, becoming Lord Foster of Thames Bank.

Lady Foster is a Fulbright scholar and an academic psychologist with a strong media presence in her native Spain. In 1996, she founded Ivory Press, an arts publishing house with locations in London and Madrid. Lady Foster has launched several upscale arts publications, including C International Photography Magazine, which is published in English, Mandarin, Spanish and Japanese.

The Blue Heron Farm sale gave a significant boost to the Martha’s Vineyard Land Bank, a state-chartered Island organization which collects a two per cent fee on most real estate transactions to buy public open space and other conservation lands. The recent slowdown in the real estate market has caused land bank monies to slow to a trickle. The land bank fee on the Blue Heron and Quansoo beach lot sale was $448,000. “From the perspective of the land bank, this is a welcome receipt of funds,” said executive director James Lengyel this week.



Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Mike Wallace, 60 Minutes, Martha's Vineyard Home Sold For $7 Million

The Vineyard Summer home of Mary and Mike Wallace has been sold for $7 million. The quintessential, six bedroom, five bath, waterfront compound with private 90' dock, 220' private beach,etc., had been enjoyed by them, family and friends for more than 20 years.

Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

President OBama Summer Vacation Home Set to Close

President OBama and family may be looking for a new place to spend their Vineyard vacation starting next Summer. The property known as Blue Heron Farm or 41 Cobbs Hill Rd. in Chilmark has a signed purchase and sales agreement in place. The 28.5 acre property is presently owned by Blue Heron Properties, LLC. and was listed for sale at $23.7 million. It includes includes 5 main structures, two full-size homes (5118 square feet and 3718 square feet) that have all been renovated, equestrian facilities including an antique eight-stall horse barn that was relocated from Pennsylvania and completely rebuilt on site, an Olympic dressage arena, and six grass paddocks. Recreational amenities include a waterview pool with hot tub, a stunning par 3 golf hole, tennis court, half basketball court, lawn bowling, and horseshoes plus over 1800' of waterfront allowing for boating etc.

Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

544 Chappaquonsett Road Vineyard Haven Listed for $16 Million

This just hit the market. Here is a description provided by the broker;

SECLUDED 22-ACRE WATERFRONT COMPOUND BOASTING THREE HOMES, each with sweeping views across Vineyard Sound. Located in Northern Pines off Lambert's Cove Road, this exquisite property is one of the last remaining waterfront estates offering the grandeur of a bygone era. The MAIN HOUSE is comprised of five (5) bedrooms and five (5) baths, central a/c, expansive decks and terrace; GUEST HOUSE is comprised of five (5) bedrooms and three (3) baths, central a/c, kitchen and Great Room that opens onto covered porch w/pergola; the POND HOUSE offers one (1) bedroom and one (1) bath, a fireplace, two screened rooms and is sited on a the edge of a private restored freshwater pond. Extras include a private ARTIST'S STUDIO, a 300-foot sandy PRIVATE BEACH and a PRIVATE TENNIS COURT. This home has been cared for by a full-time caretaker and has had constant upgrades over the years. Being sold TURNKEY with all the furnishings.Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

39 Spruce Gate Road Chilmark Martha's Vineyard Listed for $18.5 Million

39 Spruce Gate Road in Chilmark was just listed yesterday for $18.5 million. Here is the description of the property provided by the broker;
One of a kind Squibnocket Ridge property on the south shore of Chilmark - walk to private association beaches or enjoy the miles of association roads and trails through hundreds of acres of conservation land. One of only seventeen properties on the entire +-500 acre farm. This 16+ acre property is allowed to have two full sized dwelling and has a 12 bedroom septic system already installed. Maybe the most beautiful spot on the entire island.Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!
This is a big number for a piece of land but by no means the most expensive in Chilmark currently listed. If you would like a listing sheet sent please email me.

Boston.Com places two Vineyard Beaches in the Top 10

Martha's Vineyard was voted as having two of the best beaches in Massachusetts by Boston.Com today. Both Menemsha Beach located in Chilmark and South Beach located in Katama/Edgartown made the list. Check out the link to the article.http://www.boston.com/travel/explorene/specials/summer/gallery/top_10_beaches_in_massachusetts/?p1=Upbox_links
Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

83 Norton Farm West Tisbury Sold For $3,275,000

The Vineyard real estate market continues to show strong sales. Yesterday Richard and Wendy Hurst Levine of Cresskill, New Jersey sold their Summer home located at 83 Norton Farm Rd. West Tisbury, Martha's Vineyard to Elizabeth Braudis Trustee of the Orca Remainder Trust for $3,275,000. The 5,000 square foot 4 bedroom, 3.5 bathroom property has tremendous views of Vineyard Sound and the Elizabeth Islands and sits on 3 acres. The sale included deeded rights to Upper Makonikey Beach.
Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Oak Bluffs Martha's Vineyard Posts Largest Real Estate Transaction in Recent History- $7.4 Million!

I just went back ten years in search of a larger real estate transaction than the one that took place Friday June 3rd in Oaks Bluffs and found nothing. Paul & Chari Polley of Sarasota Florida sold their 5.5 acre Harthaven waterfront estate located at 334 Seaview Ave.

to William Broder manager of Sideline Development LLC
for $7.4 Million. The Vineyard real estate market has really started to heat up in recent weeks. Just yesterday a property in Edgartown went to P&S with an asking price of $9.95 million. Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Popular David Ryan's Restaurant & Bar Now For Sale

David Ryan's Restaurant and Bar was officially put on the market for $2,875,000 yesterday. The 4,000 sq.ft commercial building located at 11 North Water St.narrowly avoided a foreclosure auction a couple of months ago. The asking price includes the real estate only. Liquor license and restaurant equipment will be negotiated or sold individually.

Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Martha's Vineyard Posts Two 3+ Million Dollar Sales in Past Week

John and Eileen Johannessen purchased 149 Litchfield Rd. in Edgartown/Chappy today for $3,600,000 from Brian Comer and Michael Richardson. This appears to be a private construction deal because the property was not listed for sale.
On May 26th the Luckey's sold their beach front estate located at 299 Lambert's Cove Road in West Tisbury to a private trust for $3,000,000. Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

2nd Hancock Beach Lot Key Sells For $459,000

When I first noticed this sale I thought it was the same beach lot. However, on April 25th Doris Jean Lockhart from London, England sold to Howard Altman Trustee of Three Sycamores Trust, Beverly Hills, CA a key to Hancock Beach in Chilmark for $450,000 plus $9,000 to the Land Bank. It was the second beach key sold within a month.

Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Mike Wallace, 60 Minutes, Martha's Vineyard Home For Sale

Former 60 Minutes news anchor and long time Vineyard Summer resident Mike Wallace has put his home on the market. The waterfront compound consists of 6 bedrooms, 5 bathrooms, a private dock, private beach, with a layout of two dwellings connected by a covered brick veranda and two car garage. This wonderful property has been owned and enjoyed by Mary & Mike Wallace and their family and friends for decades. The property enjoys unsurpassed water views. The 4500+ sq.ft property has an asking price of $7,800,000.



Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Lady Gaga Building House On The Vineyard? Not so Fast!

Over the past several months rumors have swirled that Lady Gaga had or was in the process of purchasing a home on Martha's Vineyard. Most recently the Martha's Vineyard Patch and Boston Herald reported that the property that she purchased was located on Chappaquiddick next to Meg Ryan and was presently under construction. Let me set the facts straight. On July 15, 2009 Nicholas Burgin, a managing director at Goldman Sachs, purchased 21 North Neck Rd. on Chappy for $4,080,000. The house was essentially torn down and a new one is being built. It should be ready by next summer. Burgin lives in London with his wife and two children. If you can some how tie a managing director of fixed income derivatives in Asia and Europe to Lady Gaga good luck! Here is a link to the Herald news;

http://www.bostonherald.com/track/inside_track/view/2011_0525vineyard_gaga_over_reports_of_new_res/srvc=home&position=6
Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Chilmark Beach Key Sells For $459,000 on Martha's Vineyard

Yes you read that correctly! A key which opens a gate leading to a beach in Chilmark sold for $459,000. The beach is Hancock Beach which is located off of 143 Quenames Road in Chilmark. Douglas Husid and Amy Mood McGrath Trustees of The Pond House Realty Trust purchased the beach lot from Hilary Walton. It is the first Hancock Beach lot that was made available since 2005. Keep in mind this is a shared beach. Approximately 50 other owners also have access/keys to the .9 acre parcel of land

which makes up the private beach.
It was sold privately never making it to the open real estate market. 2% of the selling price is included in the purchase, which is made payable to the Martha's Vineyard Land Bank Commission for every real estate purchase on the island.

Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Obama Oak Bluffs, Martha's Vineyard Vacation Home For Rent

It's true! In August of 2008 Barack Obama and his family spent their Vineyard vacation at this house located in the East Chop section of Oak Bluffs. In his first visit to the island as president he visited close friends several times while they vacationed here as well. The home has also served as a vacation destination for many other politicians, actors and professional athletes over the years. Weekly Summer rental rates range from $7000 to $9500. For more information please click on the link below to view rental rates, availability etc. You can also copy/paste the link: http://www.capecodmarthasvineyard.com/89eastchop/index.html

Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Martha's Vineyard Gazette Reporting Good 2011 Rental Season Ahead

The Martha's Vineyard Gazette is reporting a good rental season ahead with bookings up anywhere between 17 and 30 percent over last year. Here is a copy of the article:

Summer Bookings Signal Strong Upturn for Vineyard EconomyBy REMY TUMIN


If the summer rental market is any indication of the Island economy, Vineyarders can expect a turn for the better this season.

The early summer rental market is already up significantly over last year, with real estate agencies reporting increases between 17 and 30 per cent.

“We’re very excited about the season to come and found we have good, strong rebooking coming off of last season, and a lot of early bookings coming into the summer,” Anne Mayhew at Sandpiper Rentals in Edgartown said earlier this week.

Sandpiper’s summer bookings are up 30 per cent compared to this time last year.

“We’re feeling very strong, like we’re going to have a very busy season,” Ms. Mayhew said.

Vacationing trends over the past decade have shifted from monthly rentals to weekly rentals, but agents say the more recent trend of scoring last-minute rental deals may be over this year.

“Over the last two or three years we have seen a lot of last-minute bookings, and it’ll be curious to see how much inventory is going to be available for that this summer,” Ms. Mayhew added. “With the surge we’re feeling now, a lot of folks waiting until the last minute and wanting to bargain, they may not have that opportunity again.” Ms. Mayhew said.

Carol Shore at Coldwell Banker Landmarks Real Estate said last-minute bookings were unheard of in the 1990s; they just weren’t available.

“Back in the 1990s it used to be very busy. The trend has changed a little bit since 9/11 and then even more so in the past couple years,” Ms. Shore said. “There’ve been many, many more last-minute bookings, where we can look into July and August and have people give us the call and arrive the next week or week after ... it has to do with the fast pace of peoples’ lives.”

January and February are typically busy months for bookings, Ms. Shore said, because families have gotten together over the holidays and decided what they want to do for summer vacation.

But shifting from monthlong vacation stays to one or two weeks isn’t the only changing vacation trend. Real estate agents across the Vineyard are noticing the higher end homes are doing far better this year than they did last year, but low to moderately priced homes are not faring as well.

Elizabeth Weedon from rental Web site WeNeedAVacation.com said their higher-end bookings, priced at $3,000 a week and above, are up 23 per cent, whereas homes priced at $2,000 a week and below are down about one per cent.

For the online company, 2009 was one of the more difficult seasons to date. Ms. Weedon described that year as “the perfect storm” when it came to a glut in the market with little demand. WeNeedAVacation.com bookings for the Vineyard are up 31.9 per cent compared to 2009.

“January [2011] broke records, it was the highest traffic month in our history,” Ms. Weedon said in a phone interview with the Gazette earlier this week. “The numbers are pretty eye-catching.”

The site’s Vineyard bookings to date are up 17.6 per cent over last year for the peak rental season between Memorial Day and the end of October, and up 17.9 per cent for the summer months alone.

High-end property listed on WeNeed AVacation.com includes a Chilmark home available for $8,000 a week. The 4,700-square-foot house has access to the Spring Point Association tennis courts, beach, walking trails, water views, three patios, a sundeck, wireless internet and sleeps 10 people. A lower-end property includes a beach guest cottage looking over Menemsha Pond for $1,500 a week, which sleeps four people.

“We are finding that [renters] are demanding more and more amenities and conveniences and that their vacations begin the moment they get off the ferry,” Ms. Weedon said. “They would rather head right to the beach than worry about making beds.”

Ms. Shore agrees — people want the works.

“It’s really competitive now, there are a lot of rentals to be had. People aren’t just taking anything. They want a good location, they want it updated,” she said.

“A lot of people call and want to be up-Island because they want to be in the serenity of being up-Island and not dealing with traffic, and other families wouldn’t think about going to Aquinnah or Chilmark,” Ms. Shore added.

“There are still some very good choices out there and we get new listings all the time,” she said, adding:

“There doesn’t seem to be the doom and gloom there has been for the past couple years, it seems a little more robust. The atmosphere has changed. I’ve heard from some people this year that I haven’t heard from in a couple of years. I think things are on the upswing.”

Rentals aren’t the only summer trend on the rise. Wayne Lamson, general manger of the Steamship Authority, said summer reservations were up a little over 5 per cent at the end of February. Peak ferry travel runs from May 24 through Oct. 11.


Most people making reservations now travel back and forth from the Vineyard and the mainland on a regular basis, Mr. Lamson said, but many people wait to make a reservation until the last minute depending on the weather.

“We had a really good opening this year, both online and the total number of reservations,” Mr. Lamson said last week. “So far it’s very encouraging. It’s a good sign for the season.”

Martha’s Vineyard Chamber of Commerce executive director Nancy Gardella said, “These are great early numbers.

“Basically when large metro markets that are feeder markets start to rebound, like New York, Connecticut and Boston, that bodes well for us,” she added.

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Please visit my website www.vineyardrealtygroup.com to search all properties for sale on Martha's Vineyard. I can be reached at 617-429-5219. Thanks for viewing!

Barron's Magazine Ranks Martha's Vineyard #5 Best Places for Second Homes

Mark Veverka and Steven M. Sears of Barron's Magazine published an article on March 5, 2011 Best Places for Second Homes. Martha's Vineyard was ranked #5. "Two years after the worst of the financial crisis, the rich have dusted themselves off and resumed some serious discretionary spending. Both sales volume and prices are clearly on the rise for luxury vacation homes, one of the greatest indulgences of all. Prices for the majority of the 15 locales in our annual ranking of best places for second homes climbed in 2010, sometimes dramatically.

In seeking out and ranking these havens, we looked for beauty, comfort, convenience, a range of lifestyles and -- always the paramount criterion at Barron's -- value."
Here's what they had to say about the Vineyard: Seven miles off the coast of Massachusetts, Martha's Vineyard entered the popular imagination around 1993 when then-President Clinton and family vacationed at the home of his friend Vernon Jordan. President Obama has twice vacationed on the island since he took office. The vineyard is now a full-fledged international destination. Modest summer homes have been replaced by massive luxury manses, but local officials have wisely decreed that 2% of every real estate sale go to a land bank that buys up and preserves open spaces. You can't go wrong buying into Chilmark or Edgartown.
The List:

1. Sea Island, GA
2. Maui, Hawaii
3. Hampton's New York
4. Aspen, Colorado
5. Martha's Vineyard, MA
6. Deer Valley, Utah
7. Lake Tahoe, CA
8. Kiawah, South Carolina
9. Palm Beach, FL
10. Pebble Beach, CA
11. Greater Palm Springs, CA
12. Brays Island Plantation, S.C.
13. Sun Valley, Idaho
14. Lake Geneva, WI
15. Asheville, N.C.

Please visit my website www.vineyardrealtygroup.com to search all properties currently for sale on Martha's Vineyard. I can be reached at 617-429-5219.

Waterfront Condo On Historic Edgartown Harbor For Sale!!!

Exceptionally rare opportunity to purchase a waterfront condo/hotel at the Harborside Inn located on Historic Edgartown Harbor. One of only two

units with FULL 30/30th deeded ownership rights- 30 continuous, uninterrupted weeks of ownership. Amenities include boat dock, parking, heated outdoor pool and spa. Pied-a-terre, nanny's quarters, home away from home, weekend getaway...endless possibilities and uses. Moments from the finest shopping, restaurants, art galleries and beaches of Martha's Vineyard. Don't miss out on this once in a lifetime investment opportunity!!
Please call John for more details!617-429-5219

To search all Martha's Vineyard properties currently on the market please visit my website www.vineyardrealtygroup.com

Estate of Walter Cronkite in Edgartown, Martha's Vineyard Sold For $11.3 Million

The estate of Walter Cronkite located on 40 Green Hollow Rd. closed yesterday for $11,300,000. The Edgartown harbor front property was purchased by Karen L. Brush of London, UK. This was not the only multi million dollar purchase on island this past month. On January 11th 14 Round Pond Rd. in Chilmark sold for $14,000,000 to Squibby LLC. Other notable transactions last month included 6 Golf Club Rd. in Edgartown which sold for $4,500,000 to Sarah Kernochan and James Lapine and 71 Tisbury Lane in West Tisbury which sold for $3,3750,000. There were at least four other properties that closed over 1 million dollars.