A prominent Martha’s Vineyard estate, known as Blue Heron Farm, with historical connections to the Obama family’s summer retreats, has recently been acquired in a significant $37 million transaction. This sale underscores the enduring allure and robust valuations characteristic of the luxury real estate market. The property was purchased by a trust managed by Matthew Zieger, identified as an attorney representing billionaire retail executive Les Wexner.
- Property: Blue Heron Farm, Martha’s Vineyard.
- Sale Price: $37 million.
- Buyer: A trust for retail executive Les Wexner.
- Sellers: Norman Foster and Elena Ochoa Foster.
- Sale Date: Concluded on July 10.
- Estate Size: Approximately 30 acres.
The Transaction Details
The high-profile sale of the expansive Blue Heron Farm, formerly owned by renowned architect Norman Foster and his wife, Elena Ochoa Foster, was finalized on July 10. The estate had been strategically listed at $39 million just weeks prior, rapidly entering into a binding contract, a testament to its desirability and the efficiency of the luxury market. Real estate firm Corcoran orchestrated the transaction, with veteran agents Brian Dougherty and Maggie Gold Seelig representing the sellers and facilitating the swift agreement.
Estate Overview and Amenities
Encompassing approximately 30 acres, Blue Heron Farm is a meticulously developed property designed for luxury living and extensive leisure. Its centerpiece is a 7,000-square-foot main residence, complemented by a separate five-bedroom guesthouse, a substantial barn, and a charming boathouse nestled by the water. The expansive grounds cater to an active lifestyle, featuring a dedicated basketball court, a professional-grade tennis court, and riding rings. Under the stewardship of the Foster family since 2011, the estate underwent extensive renovations, which included significant upgrades to the main house and the addition of a contemporary pool complete with an adjacent pool house, further enhancing its appeal and value.
The Acquirer: Les Wexner’s Portfolio
The acquisition places a spotlight on Les Wexner, a seminal figure in American retail. Wexner founded The Limited in the 1960s, a visionary enterprise that expanded into L Brands Inc., a formidable conglomerate that once commanded a portfolio of iconic brands, including Victoria’s Secret and Bath & Body Works. In a strategic move in 2021, L Brands spun off Victoria’s Secret as an independent, publicly traded entity, subsequently rebranding the parent company as Bath & Body Works, Inc. Wexner’s name has also recently appeared in headlines due to his reported professional and personal ties to Jeffrey Epstein, who served as his financial advisor until 2007.
Sophia Patel brings deep expertise in portfolio management and risk assessment. With a Master’s in Finance, she writes practical guides and in-depth analyses to help investors build and protect their wealth.