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Posted at 10:30 AM ET, 01/03/2012

Obama’s Hawaii vacation home, The Irene, and other real estate news you missed over the holidays

While you were away from the office and enjoying time with loved ones, we had a bit of real estate news.

First, take a look at this gorgeous home. This is where the President Obama and his family stayed during their vacation, in Kailua, Hawaii on the island of Oahu.

We learned that the president and his family stayed at a different home for the 2011 holidays than the house they have used since 2008. It’s just down the street and in the same neighborhood as the previous vacation home, which was unavailable to the first family this time because it was being used by its owner and his family.


HANDOUT PHOTO: The Obama's vacation home in Oahu. (Photo by David Dunham) (Photo by David Dunham - PHOTO BY DAVID DUNHAM)

The five bedroom, 6,000-square-foot home features a floor plan centered around a lagoon-like pool and jacuzzi in the front of the house and takes advantage of the sweeping views of the Pacific out back. The back yard is just yards away from one of Hawaii’s best beaches.

The 2011 Obama vacation home will go on the market this month, according to Oahu agent David Dunham, for $7.9 million.


HANDOUT PHOTO: The Obama's vacation home in Oahu. (Photo by David Dunham) (Photo by David Dunham - PHOTO BY DAVID DUNHAM)

On the local news front, we were the first to report that The Irene apartment building in Chevy Chase, Md. had been sold by the building’s namesake, Irene Pollin. The wife of the late Abe Pollin wrote to residents of the 500-unit building near Friendship Heights Metro, saying that she had “mixed feelings” about the sale but decided to go ahead with it for family reasons.

The purchase price is $215 million to Equity Residential, a public real estate investment trust based in Chicago. The sale is not yet finalized.

We’ve got a copy of the letters to the tenants.

Irene Apartments document

By  |  10:30 AM ET, 01/03/2012

 
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