If you are sizing up a Lima penthouse from Miami, Madrid or New York, here is the shortlist that actually matters. Miraflores is Lima’s most cosmopolitan coastal district, and its top-floor product is finally telling a story that deserves the same attention you would give a Brickell tower or a Coral Gables boutique building. There are no branded residences with Italian fashion logos and no hundred-story towers. What there is: serious architecture, irreplaceable lots, partnerships with Chilean and Peruvian studios, and roughly a dozen penthouses that set the ceiling of the local market. This list mixes internationally awarded projects like AVA 159, LEED-certified buildings under construction such as The Wave, and developments designed by Marsino, Marcan and Edifica that have redefined whole blocks. Keep it bookmarked. The next time a broker tells you “I have a penthouse in Miraflores,” you will know what to ask.
What you will find
- What defines a Miraflores penthouse in 2026
- Building 1 — AVA 159 (Marcan + Marsino Arquitectura)
- Building 2 — The Wave (Montecatini)
- Building 3 — Costa de Lima (Marcan)
- Building 4 — Urban Heights (Edifica)
- Building 5 — The Edge (Edifica)
- Building 6 — Upper 28 (Edifica)
- Building 7 — Monument (Edifica)
- Building 8 — Acacias (Edifica)
- Building 9 — Atelier (Edifica)
- Building 10 — 360 Reducto (Edifica)
- Building 11 — Pod La Mar (Marcan)
- Building 12 — Pardo Malecon (Marsino + Miranda Arquitectos)
- Fast facts: the Miraflores penthouse market
- FAQ
What defines a Miraflores penthouse in 2026
Before going to the list, a definition. In Lima the word “penthouse” gets used loosely. Any duplex on the top floor, any unit with a generous terrace. In Miraflores the bar sits higher. A real penthouse meets three minimum conditions: it occupies the top level — or the top two levels — of the building exclusively (no shared landing with another unit), it has a private terrace with a useful view (ocean, boardwalk, park, golf), and its square meterage is meaningfully larger than the average unit on a typical floor. The rule of thumb that brokers like De Lujo Real Estate or CMI International use: the top penthouse at least doubles the square meters of the largest standard-floor flat.
The second filter is urban height. Miraflores has restrictive zoning along the boardwalk blocks (RDM and RDA classifications, depending on the sector), which caps buildings at 14, 18 or 22 floors per municipal ordinance. That makes ocean-view penthouses without obstruction genuinely scarce. Three blocks inland the height drops to 12 floors, and the view stops looking at the Pacific to look at Lima instead. The third filter is ticket size. At Urbania Index prices for Miraflores in Q1 2026 (around US$2,650 per square meter, or roughly S/9.9M per sqm), a 250 sqm enclosed penthouse plus 80 sqm of terrace easily sits between US$900,000 and US$1.8M. Boardwalk penthouses cross US$2.5M as soon as the horizon view is part of the deal.
The shortlist below mixes delivered buildings, projects under construction with 2025-2026 handover, and a couple of established architectural icons. The editorial criterion: each one has moved the conversation, whether through international award, developer pedigree, architect, neighborhood or amenity stack. This is not a price ranking, it is a map. If you are buying remotely, start with our guide to buying from abroad first.
Building 1 — AVA 159 (Marcan + Marsino Arquitectura)
We start with the building that arguably put Lima on the Latin American residential architecture map. AVA 159 sits at Bajada Armendariz 159, on the border between Miraflores and Barranco. Marcan developed it with the Chilean studio Marsino Arquitectura (Jorge Marsino and Maria Ines Buzzoni) and local support from Miranda Arquitectos. In 2017 it won the Architizer A+Awards in the High-Rise Multifamily Residential category, beating finalists that included 432 Park Avenue in New York, Upper House in Carlton (Australia) and One Shenzhen Bay (China). That win, decided by more than 300 international jurors from the architecture circuit, had not happened before for a Peruvian residential building.
The building plays with broken planes, displaced balconies and a facade rhythm that avoids the closed slab. The location is exceptional: the Bajada Armendariz connects the Malecon to Costa Verde, and from the upper floors the view sweeps across the Pacific all the way to La Herradura. The penthouse occupies the two top levels with an upper terrace facing directly out to the ocean. Standard units start around 150 sqm; the penthouse triples that figure. AVA 159 remains a mandatory reference whenever the conversation turns to what Peruvian residential architecture can do when technical ambition meets a developer willing to pay for the detail. Its Architizer profile remains live for further reading.
Building 2 — The Wave (Montecatini)
The Wave sits at Malecon Cisneros 1220 and represents the most recent serious bet on the premium boardwalk. Developer Montecatini partnered with the Libre + Hygge studio for the design. Handover is scheduled for January 2026 according to current commercial information. The facade is conceived as a concrete wave, with glass spans that frame the Pacific view from almost every unit. The differentiator: LEED certification, with efficiencies of up to 40% in water consumption versus a comparable building, per project specs.
The amenity package targets a buyer who wants boutique-hotel logic baked into the building: double-height lobby, games room, central courtyard with terrace, fitness area, coworking space, two BBQ areas and a pool. The top-floor penthouse looks straight down Malecon Cisneros and benefits from a lot with no frontal obstruction (the boardwalk wall to the south drops down to Costa Verde). Published starting prices for standard units begin around S/904,020 (roughly US$240,000); the penthouses, as usual, do not show up on listing portals — they sit with the sales office.
Building 3 — Costa de Lima (Marcan)
Costa de Lima brings Marcan back to the spotlight with a project signed by 51-1 Arquitectos, one of the most internationally recognized Peruvian studios. The address: Av. 28 de Julio 320, on the corridor that connects the boardwalk with Parque Kennedy. The interiors of the premium spaces (top floor, rooftop) are designed by Carla Canepa, one of Lima’s most sought-after interior designers for boutique projects. The studio Ro de Rivero designed the Club Lounge and the gym. That credit list is not coincidence: it points to a “multiple curated authors” strategy that is becoming common in the high-end segment of the district.
Units start at 80 sqm in 1- and 2-bedroom formats. Amenities include a lobby, Club Lounge, gym, rooftop BBQ and an infinity pool with urban view toward Miraflores and the coastline. The Costa de Lima penthouse benefits from a relatively unobstructed northern flank (Av. 28 de Julio’s central stretch carries low commercial buildings) and from being three blocks from the Malecon. Marcan positions the building as “livable” rather than as an architectural trophy, and that shows in a quiet, formally restrained design built to age well. Construction started in 2024 according to the developer’s own communications.
Building 4 — Urban Heights (Edifica)
Urban Heights is the largest project in Edifica’s current Miraflores portfolio. The address is Av. Paseo de la Republica 6143, right on the border with Surquillo where the avenue curves around Reducto. The building proposes 363 apartments of 1 and 2 bedrooms starting at 40 sqm, 150 parking spaces and 10 storage units. That density is no accident: the lot allowed height and Edifica went for volume, targeting a younger buyer or investor who prioritizes location over square meters.
The Urban Heights penthouse has two strong cards: substantial height and orientation. The upper floors look out over Reducto and, on the better-oriented sides, across the central Miraflores skyline. The sales office operates at the same address. The published starting price begins from unit B-1207 at 40.26 sqm (S/419,136, around US$110,000 according to specialized portals), but the top penthouse plays in another league. The most interesting offering here for international investors is not the small unit but the large flat on the upper floor: the projected cap rate for rental in this corridor sits around 5.5%-6% annually based on comparable Properati Data figures.
Building 5 — The Edge (Edifica)
The Edge is at Av. Jose Larco 1215, steps from Larcomar — the cliff-edge open-air mall that anchors the southern end of Miraflores. The block is among the most walked in the district, and proximity to the cliff edge gives the penthouse a view advantage: although the building does not sit on the Malecon, the upper floors look across low rooftops toward the Pacific on the western flank. Edifica delivers the project in 2026 with LEED certification, which in practice means lobbies with light-efficiency design, gray-water management, energy savings and green areas with technified irrigation.
Standard units are 2-bedroom flats with 2 bathrooms and one parking space, starting at 60 sqm. Published prices begin at S/983,657 for base units (roughly US$262,000). The Edge is not the tallest building in the area but it benefits from its surroundings: Larcomar below, Parque Salazar one block away, top restaurants of Larco and Diagonal around the corner. For a buyer who prioritizes walking everywhere, The Edge penthouse is a direct candidate. Worth noting: the 12th block of Larco saw a boom of boutique projects in the last five years, and the average sqm price in the zone is under upward pressure from residential tourist demand.
Building 6 — Upper 28 (Edifica)
Upper 28 sits at Av. 28 de Julio 560, on the axis that connects Parque Kennedy with Avenida Larco and ends at the Malecon. The project offers 1- to 3-bedroom units between 61.32 sqm and 143.76 sqm, with LEED certification and currently under construction. The difference versus its neighbors on the same axis (Costa de Lima, Monument) is that Upper 28 leans into a wider mix of typologies: from young-professional flat to large family unit, which gives the building a less uniform community profile.
The top unit — the one that here counts as a penthouse in the strict sense — occupies the upper level with a north-facing terrace toward central Miraflores. The building incorporates an interior garden, low-water green areas, energy savings and the standard boutique amenity stack (gym, lounge, sky deck). Published prices from S/776,428 (around US$207,000) correspond to small units; the larger ones and the upper-floor unit are managed at the sales office. The approved height for the block and the orientation give the Upper 28 penthouse a useful view across the residential skyline of Miraflores. For US-based buyers comparing this to Brickell or Mexico City’s Condesa, the trade-off is similar: lower ticket, smaller footprint, comparable lifestyle.
Building 7 — Monument (Edifica)
Monument is probably the most publicized project in Edifica’s Miraflores portfolio. Its lot is at the intersection of Av. 28 de Julio and Av. Larco — two avenues with serious symbolic weight in the district — and adds up to 56,000 sqm built for 403 apartments. Estimated project billing is around US$100 million per public communications. Units start at 68 sqm, with 1-, 2- and 3-bedroom typologies between 68.00 sqm and 97.92 sqm. The project is developed under EDGE standards, ensuring a minimum 20% reduction in energy, water and material consumption versus a conventional building.
The amenity program targets the “destination building” model: double-height lobby, rooftop with pool and jacuzzi, Sky Bar and Lounge Bar, gourmet zone, BBQ. Penthouses at Monument get privileged sightlines over the intersection (which at night carries the rhythm of the most-walked zone of the district) and benefit from a surrounding cluster: Maido, Rafael, La Lucha, La Plazita, Larcomar, Ambra Rooftop, JW Marriott, Hilton, Pullman. If having your penthouse meters away from five top restaurants and Larcomar matters to you, this building is the most direct bet on the list. Comparison point for US buyers: think Brickell City Centre with low-rise context.
Building 8 — Acacias (Edifica)
Acacias is at Calle Las Acacias 335, in a quiet residential zone between Domodossola and Meliton Porras parks. This matters: the blocks around Domodossola are considered among the most stable in the district in terms of traffic, noise and tenant composition. Edifica positioned Acacias for the buyer who prioritizes quality of life over urban energy. The project’s LEED certification covers the expected items: reduced energy consumption, optimized water use, low-water green areas, technified irrigation and bicycle parking.
The Acacias penthouse — the top flat with terrace — benefits from the approved zone height (lower than on Larco) and from a green setting that the central Miraflores towers do not have. The view falls over the residential plane: tall pines, the rooftops of older chalets that still survive in the district, and the contour of Meliton Porras park. Acacias does not compete on imposing scale; it competes on neighborhood. This is the penthouse you probably pick if you have a small family or if you want distance from Larco’s activity level. Prices from S/618,043 (around US$165,000) for base units; the penthouse is managed case by case.
Building 9 — Atelier (Edifica)
Atelier occupies the block at Av. Alfredo Benavides 474, on the axis that crosses Miraflores from east to west. Edifica plans 1- to 3-bedroom units from 48 sqm, with LEED certification and an eco-efficient design that points to roughly 30% energy savings according to the developer’s own spec sheet. The starting unit is apartment 101 at 59.01 sqm. As in other portfolio buildings, amenities include an interior garden and common areas designed for a tenant mix of young professionals and small families.
The Atelier penthouse is not among the largest on the list, but it matters because of context: Avenida Benavides on the Miraflores stretch has consolidated retail, fast connection to the Via Expresa, and two blocks south the transition into Surquillo begins, where the sqm price drops. This is a penthouse for the buyer who reads Miraflores as an operational base rather than as an oasis. The facade keeps the quiet contemporary logic Edifica has been applying as a stamp, and the upper-level common area offers a useful view over the surrounding residential plane.
Building 10 — 360 Reducto (Edifica)
360 is a mixed-use building (apartments above, boutique offices below) located at Av. Reducto 825, facing Parque Reducto. The address is strategic: Parque Reducto is one of the district’s main green lungs, and living facing it is one of the few residential premiums Miraflores keeps without forcing you to pay the boardwalk price. The connection with Paseo de la Republica and the Circuito de Playas is direct, which makes the building attractive to executives commuting between the San Isidro financial center and the south of the city.
Residential units run between 80.04 sqm and 126.24 sqm with 1 to 3 bedrooms. The boutique offices below are offered in three types (A at 21.03 sqm, B and C at 26.16 sqm). The 360 residential penthouse looks directly onto Parque Reducto and, thanks to the approved height for the block, across the southern Miraflores horizon. It is one of the few buildings in the district where the penthouse view is a historical park, not a vehicular intersection. If you value a view that does not include traffic lights, this building is a direct candidate.
Building 11 — Pod La Mar (Marcan)
Pod La Mar is at Av. Mariscal La Mar 352, in the heart of the gastronomic district. The address alone is value: La Mar is one of the most-walked blocks in the country for tourists and limenos alike, anchoring the corridor that runs from Acurio’s cevicheria down to Maido. The facade plays with exposed concrete and a color palette that evokes the blues of the nearby ocean. Marcan describes it as a project of restrained, timeless identity, with emphasis on a hybrid program: apartments from 62 sqm and offices from 33 sqm.
Amenities include a common dining area, meeting and conference rooms, phone booths, common bathrooms on each floor and surfboard lockers — that last detail is a statement of the target buyer: young professional, weekend surfer, business traveler. The Pod La Mar penthouse looks over the gastronomic district and sits within walking distance of the Malecon. The investment logic here is clear: premium short-term rental in one of the addresses with the highest Airbnb demand in the district. For US-Hispanic buyers, the comp is Wynwood adjacent: dense, walkable, restaurant-driven.
Building 12 — Pardo Malecon (Marsino + Miranda Arquitectos)
We close with the oldest building on the list but possibly the most important to understand the entry of international architecture into Lima’s residential market. The Pardo Malecon building sits at Av. Jose Pardo 1545, near the limit of Plaza Centro America and within walking distance of the Malecon. It was designed by Miranda Arquitectos together with Marsino Arquitectos Asociados (Jorge Marsino and Maria Ines Buzzoni) between 2009 and 2012. It has 21 floors, 4 basements dedicated exclusively to parking, and 13,600 sqm built on 11,726 sqm of land.
The primary material is reinforced concrete with stucco finish and fine-sand textured plaster. The structural distribution in transversal and longitudinal walls defines the facade rhythm and the interior layout. What matters: Pardo Malecon was one of the first contemporary buildings in the district to show that a tall residential volume could read as architecture, not as a commercial slab. The top-floor penthouse has a direct view to the Malecon and the Pacific, and its resale value has held above the district average. For the buyer who values a delivered building with history and a verified view, Pardo Malecon is a very specific secondary-market option.
Fast facts: the Miraflores penthouse market
- Average price per sqm Miraflores Q1 2026: roughly US$2,650 (Urbania Index, Q1 2026).
- Typical penthouse size: 250-450 sqm enclosed plus 60-150 sqm of terrace.
- Typical Miraflores penthouse ticket: US$900,000 to US$2.5M; boardwalk units can exceed US$3M.
- Projected cap rate for premium penthouse rental in Miraflores: 5.5%-6% annually (Properati Data, 2025 comparables).
- Maximum approved height on boardwalk blocks: 18-22 floors per current ordinance; 12 floors three blocks inland.
- Certifications represented on the list: LEED (Acacias, The Edge, The Wave, Atelier, Upper 28), EDGE (Monument).
FAQ
A final thought, not a recap
The interesting thing about these 12 buildings is not what they share but what each one offers as a differentiator. AVA 159 entered through award-winning architecture. Pardo Malecon entered through international architects. Costa de Lima and The Wave entered through curated interior design studios. Acacias and 360 entered through neighborhood. Monument entered through scale. Pod La Mar entered through the block. That diversity is probably the best news for the premium buyer: in Miraflores there is no longer one single model of “luxury penthouse.” There is a menu of proposals with distinct authorships, and the first exercise that matters is deciding what defines you as an owner before deciding which building you want to live in.
Prices, square meters and project figures referenced correspond to public commercial information current as of May 2026 and are subject to change. Penthouse.pe is neither a financial advisor nor a real estate developer; before any purchase decision, confirm specifications, prices and timelines directly with each project’s sales team and consult your trusted advisor. Availability of specific penthouse units may have changed since publication.
Interested in visiting one of these buildings or in receiving a detailed analysis of the specific penthouse you have in mind? Write to us at hola@penthouse.pe and our editorial team will help you compare options with verifiable data.
