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.