Lars Ulrich just made his exit from the San Francisco luxury real estate market. The Metallica drummer sold two adjoining mansions in Presidio Heights for a combined sum of nearly $68 million. The transactions closed last week, according to The San Francisco Standard
It is a massive financial win for the drummer. He originally bought the properties from Salesforce founder Marc Benioff for a combined $36 million. That was nearly a decade ago. Now, the combined sale ranks as the second-largest private residential deal in the city's history, trailing only Laurene Powell Jobs' $71 million purchase on Billionaire's Row in 2024
The properties themselves are architectural heavyweights. The larger residence at 3277 Pacific Avenue spans roughly 16,000 square feet. Designed by Willis Polk in 1913, it draws inspiration from Italian palazzos. The adjoining Jackson Street property adds another 6,000 square feet to the footprint, creating a 22,000-square-foot compound with connected backyards
The provenance is just as interesting as the architecture. Before Benioff, the Pacific Avenue estate belonged to Mickey Drexler, the former CEO of Gap and J.Crew. Drexler commissioned a major 1990s renovation led by designer Thierry Despont, who infused the space with a French-North African aesthetic, including a lower-level indoor pool.
But the San Francisco mansions were only half of Ulrich's real estate liquidation. He also sold a 161-acre parcel atop King Mountain in Marin County for $16 million. That brings his total Bay Area property divestment to approximately $84 million. The Marin land was purchased by the Marin Open Space Trust, funded by the Shelby Cullom Davis Charitable Fund, ending Ulrich's long-held plans to build a private compound there.
The question now is who bought the mansions. AXS TV reported that records point to trusts controlled by Robert Joseph St. Aubin, whose representation of entities linked to Airbnb CEO Brian Chesky was detailed in a 2020 SEC filing. Neither Chesky nor his representatives have confirmed the purchase. The next move will likely come from a public statement by the buyers or a deeper dive into the trust structures by local investigative reporters.