The Obamas might be leaving the swamp and heading for the hills.
Former First Lady Michelle Obama spent some time in the Hollywood Hills this week to possibly look for a new home for her and former President Barack Obama, TMZ reported.
After his second term in the White House ended, the Obamas decided to stay in Washington, D.C., until their daughter Sasha graduated from high school, which she did last month. Wasting no time, Michelle Obama rented a 12,000-square-foot spec home built by Ario Fakheri. It’s known as the “Shark House” for its open-air aquarium with small sharks.
TMZ reported that she was possibly checking out the neighborhood, including the Shark House, which is for sale for $23 million. It’s at the north end of the Bird Streets north of the Sunset Strip. The three-story home has seven bedrooms, 12 bathrooms, two pools, a wellness center and a movie theater.
The Obamas will likely be happy to learn about the stalling high-end market in Los Angeles, including in the Bird Streets. In fact, the price tag for the Shark House has been cut by 35 percent. It first hit the market for $35 million one year ago. It was relisted for $29 million last December, and now it has another $6 million cut.
The locale would be particularly convenient considering the Obama’s deal to produce several projects with Netflix, which owns a massive new Hollywood office. Also, when the home was relisted in December, the seller added a two-year private jet membership.
Tomer Fridman and Kurt Rappaport have the listing. [TMZ] — Gregory Cornfield