Former Snap Executive Buys Palisades Home for Over $15M

The News Comes After His New Company Announced It Would Open An Office In Los Angeles.

By Zach Armstrong

Ben Schwerin, a longtime tech executive who served at Snapchat’s parent company and now serves in a position at tech-focused hedge fund Coatue, paid Oculus co-founder Brendan Iribe $15.2 million for a residence in the Riviera section of Pacific Palisades, Dirt.com reported.

The news comes after Coatue, a $70 billion hedge fund based in New York, announced it would open an office in Los Angeles. 

Built in 2015, the Cape Cod-style estate is hidden behind gates and high hedges. With six bedrooms and seven baths, the home features a home-automation system controlling lights and blinds, chevron-patterned wood floors, bi-folding glass doors, an outdoor kitchen and several patios topped with retractable awnings.

Schwerin has already been maintaining a residency in Los Angeles. Since Spring of 2014, he has held the keys to a circa-1920s house in the Hollywood Hills.

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