Barack and Michelle Obama may be making a serious lifestyle investment late this summer: they are apparently in the final stages of purchasing this $14.9 million estate in Martha’s Vineyard.

The former President and First Lady would be buying the retreat from Wyc Grousbeck, the owner of the Boston Celtics; they rented the mansion from him this summer. Grousbeck had the home custom built on property he purchased in the late 1990s, and completed the project in 2001. The place has been for sale for a little more than four years; it was initially listed at $22.5 million in the summer of 2015.

The classic blueblood New England ‘summer house’ rambles along a U-shaped footprint. The exterior of the home aspires to the 1920’s coastal Northeast shingled mansion style, and features charming eccentricity to spare.

The interior living spaces total just under 6,900 square feet. The design sensibility is a peculiar mix of opulent and industrial, with period elements and utilitarian luxe co-existing in a kind of tense balance. A marvelous stone fireplace and accent wall in the living room are offset by the ceiling design: steel supports and exposed trusses. Concrete pillars, industrial-style pendant fixtures, glass walls, French doors, tile or hardwood flooring, and a splendid second-floor terrace are other details of the seven-bed, nine-bath home.

The setting is spectacular. Thirty acres of private Atlantic coast grass, forest, and scrub, with beach access, a pool, and gardens makes for an endlessly engaging property in the warmer months.