Palo Alto Home Fetches $20M: Report

PALO ALTO, CA — A cash buyer paid $20 million for a sprawling high-end Old Palo Alto district home, The San Jose Mercury News reports.

The 7,900-square-foot five-bedroom and eight-bathroom home on1500 Cowper St. was newly built on a third of an acre the report said.

The report identified the buyer as Tall Stick Properties.

The deal points to strength in the high-end real estate market, realty executive Michael Dreyfus of The Dreyfus Group told The Mercury News.

“This area is doing very well for ultra-high-end real estate,” Dreyfus said. “We sold a house for $23 million in Woodside during the worst of the coronavirus problems in April.”

Read more in The San Jose Mercury News