Longtime Top Snap Exec Drops $15 Million on the Palisades Riviera

After more than eight years at Snapchat parent company Snap, Ben Schwerin recently left his job as the social media giant’s top content and partnerships executive for a new position at tech-focused Coatue, a $70 billion New York hedge fund that recently announced it would open a Los Angeles office.

Schwerin is also shifting gears on the real estate front, picking up snazzy digs on L.A.’s Westside. The 43-year-old and his partner have paid Oculus co-founder Brendan Iribe $15.2 million for an elegant residence sited on one-third of an acre in the posh Riviera section of Pacific Palisades. In the process, Schwerin received a substantial discount on the property, which was originally listed for $17.2 million.

Schwerin now holds the keys to a traditional Cape Cod-style estate that was built in 2015, but has since been “re-envisioned to incorporate new design elements, upgrades and finishes,” per the listing. Tucked away behind gates and high hedges, the brick-clad home contains six bedrooms and seven baths spread across 9,000 square feet of three-level living space boasting modern conveniences like a Savant home-automation system that controls Lutron lighting and blinds throughout.

An entry foyer displaying chevron-patterned wood floors is flanked by formal dining and living areas, the latter of which is currently being used as a billiard room. Beyond that, a spacious family room is spotlighted by a fireplace and built-in shelving, plus bi-folding glass doors spilling out to a grassy backyard hosting several patios topped with retractable awnings, an outdoor kitchen, and a pool and spa with Baja shelf.

Back inside, a seated wet bar connects to the gourmet kitchen, which is outfitted with honed single-slab marble countertops, an eat-in island, top-tier Wolf and Sub-Zero appliances, a large walk-in pantry and breakfast nook with an integrated workstation. Other main-level highlights include an office and a guest bedroom with its own bath.

Four additional en-suite bedrooms can be found upstairs, most notably a fireside master retreat sporting custom blackout shades, a sitting area, walk-in closet, separate flex room, and luxe bath equipped with heated floors, dual vanities and water closets, and a soaking tub and steam shower. Yet another en-suite bedroom can be found on the lower level, which also offers a movie theater, mirrored gym and temperature-controlled wine room.

In addition to his newly acquired Palisades spread, Schwerin also maintains a circa-1920s house in the Hollywood Hills that he’s owned since spring 2014.