Snapchat's latest real estate acquisition is a beachfront penthouse in Venice, California, BuzzFeed News reports.
The startup will be paying $22,500 a month — slightly less than the asking rent of $25,000 a month — for a 1,100-square-foot spread, which has a fire pit, jacuzzi, 200-square-foot guest room, 20-seat dining table, sun pavilion, and sweeping ocean views. According to photos on the apartment's web site, there also appears to be a massive geodesic dome on the deck, though the exact purpose for that is unknown.
The space was previously rented by VC Paige Craig, who has invested in Lyft, Postmates, Plated, and Klout. Craig reportedly used the penthouse to throw notoriously rowdy parties.
BuzzFeed confirmed with building owner Brad Neal that Snapchat was able to secure a lower rent by promising not to use the penthouse exclusively for parties.
Snapchat currently leases a 47,000-square-foot complex in Venice, in addition to several buildings on Market Street and at the Thornton Lofts on Ocean Front Walk.
Over the past year, some local business owners have expressed concerns that Snapchat's rapid expansion could contribute to a deterioration of Venice's quirky culture. Established in the early 20th century as a planned community, Venice has at different points in its history served as an amusement park, hippie haven, and the birthplace of modern skating culture.
With lots of hip restaurants and boutiques, it still maintains an edge today; in 2012, GQ named Abbot Kinney "the coolest block in America."
Snapchat's brand-new penthouse is located just two blocks away from Abbot Kinney.
A Snapchat spokesperson declined to comment.
