Metallica drummer Lars Ulrich has sold two adjoining mansions in San Francisco for nearly $68 million, almost doubling the amount he paid for the properties from Salesforce founder Marc Benioff nearly a decade earlier. The homes, located in the city’s affluent Presidio Heights neighbourhood, were sold on the same day in separate transactions, according to The San Francisco Standard. The sale represents one of the city’s biggest residential property deals and forms part of a wider real estate exit by Ulrich, who has also sold a substantial parcel of land in neighbouring Marin County.
Lars Ulrich’s San Francisco mansions nearly doubled in value
The San Francisco Standard reported that Ulrich was the owner behind 2 trusts that sold the adjoining properties for almost $68 million. Although the houses changed hands separately, their combined sale would rank as the second-largest private residential transaction in San Francisco history if treated as a single deal.The figure would place the transaction behind Laurene Powell Jobs’ $71 million purchase on Billionaire’s Row in 2024. The drummer purchased the properties from Benioff, his longtime friend, through two separate transactions. The combined original purchase price was $36 million, making the latest sale a significant financial gain for Ulrich after years of ownership.According to The San Francisco Standard, the properties were sold last week, with the two trusts transferring ownership on the same day. Their adjoining layouts and substantial sizes made them a particularly notable combination in the city’s luxury housing market.
What made the two Presidio Heights properties distinctive
The larger residence stands at 3277 Pacific Avenue and measures approximately 16,000 square feet. Ulrich purchased it in May 2017 for $30 million through a trust connected to WG & S, a family office firm, as detailed by The San Francisco Standard.The second property, at 3230 Jackson Street, is considerably smaller, with around 6,000 square feet of living space. It was acquired in October 2018 for $6 million through a separate trust overseen by entertainment attorney Edwin McPherson.Together, the homes offer approximately 22,000 square feet of residential space. Their neighbouring backyards appear to connect the properties, creating an arrangement for two separately owned houses in the prestigious neighbourhood.The San Francisco Standard reported that the larger Pacific Avenue estate was designed by architect Willis Polk in 1913. Its architecture drew inspiration from Italian palazzos, giving the mansion a distinctive historic character.The property underwent a major renovation during the 1990s for Mickey Drexler, the former chief executive of Gap and J.Crew. Designer Thierry Despont was responsible for the interiors, which incorporated a French-North African aesthetic and included an indoor swimming pool on a lower level.
Who owned the mansions before Lars Ulrich
The properties had already passed through several prominent owners before Ulrich acquired them. Benioff purchased the Jackson Street residence in 2000 for $7.5 million, according to The San Francisco Standard. 5 years later, he bought the larger Pacific Avenue mansion from his neighbour Drexler for $25 million.Benioff’s ownership of both homes preceded their eventual transfer to Ulrich. The Salesforce founder sold the properties to the drummer in separate deals, with the Pacific Avenue estate changing hands in 2017 and the Jackson Street residence following in 2018.The transactions were conducted through trusts rather than directly in Ulrich’s name. The San Francisco Standard identified the larger property’s purchasing trust as being connected to WG & S, while the smaller home’s trust was managed by McPherson.The identities of the latest buyers have not been officially confirmed. AXS TV reported that records showed the properties were acquired by trusts controlled by Robert Joseph St. Aubin, whose representation of trusts connected to Airbnb chief executive Brian Chesky was referenced in a 2020 Securities and Exchange Commission filing. However, neither Chesky nor anyone connected to him has been confirmed as the actual buyer.
Ulrich’s wider Bay Area property sales
The San Francisco mansions were not the only significant property Ulrich sold during the period. The Metallica drummer also parted with a 161-acre parcel atop King Mountain in Marin County for $16 million, bringing the combined value of his recent Bay Area property sales to approximately $84 million.The San Francisco Standard reported that the Marin property was purchased by the Marin Open Space Trust, which intends to make it accessible to the public. The acquisition was funded through a grant from the Shelby Cullom Davis Charitable Fund.The land sits near Kentfield and offers views of Mount Tamalpais and the surrounding landscape. Its sale also brings an end to Ulrich’s long-running plans to develop a private compound on the site.The property had previously been marketed for around $40 million in 2015, with later asking prices falling considerably. Its eventual sale to a conservation organisation instead means the land is expected to become a public recreational resource.The San Francisco Standard also reported that Ulrich had previously sold a Tiburon property for $10.3 million in 2020. That home had been purchased in the early 1990s and later placed into a trust.
