Snapchat has inked a five-year, $22,500/month deal for a beachfront penthouse at Brooks Avenue and Beachfront Walk in Venice. Formerly occupied by prominent LA venture capitalist Paige Craig, managing partner at Arena Ventures, this beach pad has an infamous reputation for raucous rave parties.
Snapchat, now a $16B company, has more serious plans for the space, which features a 5k SF, glass-enclosed deck with a fire pit, jacuzzi and geodesic dome, but has not disclosed what, reports Buzzfeed.
The company has signed a number of new leases in Venice this year for tens of thousands of square feet along the beach and on Abbott Kinney. [Buzz]
