330 Santa Rita Avenue in Palo Alto, a residential estate in the city's Old Palo Alto neighborhood. (Google Maps)
PALO ALTO — A home in a prestigious Palo Alto neighborhood has been bought for $40 million in cash, according to documents filed on Oct. 6 with the Santa Clara County Recorder’s Office.
Michael Rantz and Paula Rantz sold the residence at 330 Santa Rita Ave. in the Old Palo Alto district to Golden Coast Holdings Trust, whose trustee was listed as Douglas Christen, documents show.
The 4,400-square-foot house has six bedrooms and four baths. It occupies a lot that totals about 0.2 acres.
Some of the first residences in Old Palo Alto date back to the end of the 19th century.
Early residents included Elizabeth Gamble, granddaughter of James Gamble, one of the founders of Procter & Gamble. Current residents in the neighborhood include Larry Page, co-founder of Google.
Michael Rantz and Paula Rantz are listed as the heads of the Michael and Paula Rantz Foundation, which has been based out of the Santa Rita Avenue address, according to databases of nonprofits and charitable foundations.
On Sept. 15, Michael Rantz and Paula Rantz sold a house at 111 Waverly Oaks in Palo Alto for $15 million.
During the one-year period that ended in June, YMCA of Silicon Valley listed the Michael and Paula Rantz Foundation as being part of the YMCA’s “gold circle” for donating at least $10,000 to the youth organization.
It wasn’t immediately clear what other organizations have received money from the foundation.
During the 12 months that ended in June 2024, the Michael and Paula Rantz Foundation donated $1.1 million in charitable disbursements, according to a Form 990 tax document posted by ProPublica. In mid-2024, the foundation’s assets totaled just under $7.1 million.
Originally published at George Avalos