Last summer, it was widely reported that Barack and Michelle Obama had purchased a spectacular slice of Martha’s Vineyard. The seller of the contemporary ‘summer cottage’ was Boston Celtics owner Wyc Grousbeck, who had rented the idyllic retreat to the couple for the season. Grousbeck purchased the large forest, meadow and scrub parcel in Edgartown in the late 1990s, and had the home custom built.

The sale price was unknown when the story broke in August. Prior to the sale, the oceanfront property had been listed at $14.9 million, and it had been priced as high as $22.5 million during its four-year stint on the open market.

Public records recently revealed the amount that changed hands: $11.75 million. Not bad for a nearly 7,000 square foot house on thirty waterfront acres in one of the more postcard-worthy corners of New England, a landscape prized by poets and power brokers, artists and vacationers.

The exterior of the shingled U-shaped house establishes a traditional feel, with a weather-beaten and eccentric form. The interiors are surprisingly contemporary, though, with industrial design and period cottage elements creating a reserved yet cozy living style. In the living room, for example, a ceiling design employing open trusses and steel supports is contrasted with cherry plank floors and a rustic stone and red brick fireplace. Concrete support pillars, built-ins, industrial-style light fixtures, tongue-and-groove, glass walls, and French doors are other details of the 7-bed, 9-bath house.

The acreage rambles along sections of grass, forest and scrub. A pool and patio framed by gardens, and a wide plain of lawn extending to the beach are highlights of the grounds.