If you’ve followed Lima’s premium residential market from Miami, Madrid, or Buenos Aires over the past three years, one address keeps surfacing in the Lima Top conversation: The Grand at Pezet 195. Twenty-two stories, 70-plus meters of height, 72 units between 150 and 310 sqm, signed by Carlos Ott — the Uruguayan-born architect behind the Opéra Bastille in Paris and the Burj Al Arab in Dubai — alongside fellow Uruguayan Carlos Ponce de León, his partner since 2004. The label is not marketing inflation. It’s the most ambitious residential project in San Isidro this decade, with a commercial alliance with Audi that earned Lima-magazine coverage and pushed the project’s profile beyond the usual local sphere. If you’re considering a US$1M-plus apartment in Lima from abroad, this is what you actually need to know about The Grand San Isidro Pezet.
The block: why Pezet and Coronel Portillo is the address
Avenida Pezet in San Isidro is one of the most prized residential corridors in Lima Top. It connects the heart of Country Club–El Golf with the Miraflores border, passing Coronel Portillo, Choquehuanca, and Quinta Avenida. The exact corner of The Grand — Pezet at Coronel Portillo — sits three blocks from Lima Golf Club, four blocks from Larcomar following Pezet toward the boardwalk, and two blocks from the Salaverry financial corridor.
Why does the block matter? Because in San Isidro, where the district median closed 2025 at S/9,231 per sqm per Urbania Index Q4 2025 but the Country Club–El Golf sub-neighborhood reaches S/12,097, the spread between blocks gets measured in hundreds of thousands of dollars. Pezet at Coronel Portillo is inside the district’s premium corridor — not at the absolute peak like Country Club proper, but right next to it, with direct access to the Golf and to the Miraflores connection. The price gap between buying one block and three blocks deeper into the Pezet corridor can run 15–20%.
The Grand exploits the combination: high ticket, Golf views from upper floors, direct connectivity to the Miraflores boardwalk and to the financial corridor. It’s the kind of address an international buyer recognizes from Madrid or Miami without explanation — think Coral Gables’s Old Cutler corridor next to Coral Gables proper, with the Pacific Ocean substituted for Biscayne Bay. If you’re buying an apartment in San Isidro to lease to expat executives, this corner gives you the market ceiling. Living in it and working at Salaverry? Ten minutes door-to-door. Buying as a Peruvian returnee? It delivers the cleanest statement of belonging to Lima Top without paying the Country Club proper premium. For sub-neighborhood prices in detail, see the Penthouse.pe Luxury Index 2026.
Carlos Ott and Carlos Ponce de León: the duo behind the project
Carlos Ott opens the project’s resume. Uruguayan, trained in Montevideo, based in Toronto since the 1980s, and the architect behind buildings any international buyer recognizes: the Opéra Bastille in Paris (international competition won in 1983, inauguration July 14, 1989), the iconic Burj Al Arab — Dubai’s seven-star sail-shaped hotel — the National Bank of Dubai, the Vista Alegre Bullring in Bilbao, and a handful of towers in Miami, Toronto, and Punta del Este. Carlos Ott Architect operates from offices in Quebec, Toronto, Shanghai, Dubai, and Montevideo.
An accuracy note worth flagging upfront: Carlos Ott has not been awarded the Pritzker Prize. Some Peruvian press articles have mistakenly mentioned him in that category — [TO BE VERIFIED against official sources whether Ott appears in any major architecture-prize lists]. His most significant professional recognition is winning the Opéra Bastille international competition in 1983, which positioned him as one of the global signature architects of emblematic civic and cultural work.
Carlos Ponce de León is the duo’s second name. Also Uruguayan, also trained in Montevideo (Universidad de la República, 1985), partner with Adolfo F. Pozzi from 1985 to 2004, and since 2004 founder of Ponce de Leon Architects in strategic alliance with Carlos Ott’s firm. The Ott + Ponce de León partnership has produced residential projects across Latin America, India, Sri Lanka, the UAE, and Argentina. In the Latin American context, the most frequently referenced projects are Jade Ocean in Sunny Isles (Miami), Echo Brickell in Brickell (Miami), and the Waldorf Astoria Miami. The Grand is the duo’s first project in Lima.
What does each one bring? Ott signs the silhouette and the architectural statement — how the building plants itself on the block and dialogues with context. Ponce de León contributes residential floor-plate development, the interior logic of typical floors, and coordination with the common-area design. The joint signature reads as Carlos Ott Architect + Ponce de León Architects, a typical structure of international collaborative practice. For the local Lima buyer or the international buyer, what matters is that the project is signed by architects with proven track record in high-end residential towers — not by a commercial brand without backing. That counts toward value preservation: buildings signed by recognizable names tend to hold the median better in the secondary market.
The architecture: 22 floors, 70 meters, Golf views
The Grand sits on a 1,230 sqm lot and builds 24,347 sqm distributed across 22 levels rising past 70 meters. The volumetric density is deliberate: on a block like Pezet at Coronel Portillo, the height is justified by the quality of the view it delivers. Upper floors reach the classic San Isidro triple view: Lima Golf Club to the north, the Pacific to the west over the Miraflores skyline, and the Andes to the east on clear days.
The architectural statement is contemporary, not over-designed. The façade combines glass, concrete planes, and brise-soleil elements that regulate west-side solar exposure — a technical detail that matters in Lima because of late-afternoon radiation. The typical floor plate is efficient: circulation core at center, apartments around the perimeter, terraces integrated with social areas as a natural extension of the living room. Upper floors have higher ceilings and differentiated terrace treatment for penthouses.
Common areas are the work of Jordi Puig and Claudia Paz — interior designers and lighting/technology experts, per developer communications. The amenity logic follows the high Lima Top standard: pool, gym, spa, screening room, lounge, coworking room, guest area, kids club, game room. The difference from other projects on the block sits in execution detail: international-brand kitchen and bath finishes, integrated home automation, direct access to the underground parking from private elevators in select typologies. It’s the kind of project that asks for a physical tour to grasp; renders don’t do it justice.
What makes an international buyer recognize the statement? Three things. One: the façade materiality reads professional from the block, not generic. Two: the building’s height fits the urban fabric of Pezet — it doesn’t undershoot the neighboring stock or break scale. Three: the common areas are designed with a residential-experience focus, not as brochure decoration. The last point is hard to measure from a render, but a seasoned Lima broker reads it on the first walk-through.
Typologies: 150-310 sqm, flats, duplexes, penthouses
The Grand delivers 72 apartments split across flats, duplexes, and penthouses. Areas range from 150 to 310 sqm, with 1, 2, and 3-bedroom typologies. The full breakdown by typology is not public in detail, but combined readings of official communications and El Comercio Día1 coverage suggest the bulk are 2–3 bedroom flats between 180 and 250 sqm, with a handful of duplexes and penthouses on the upper floors.
Original announced prices covered a range from US$500,000 to US$2,000,000 per developer communications, adjusted by area, floor, and view. For premium product on the Pezet–Coronel Portillo block, the per-sqm range moved consistently between US$2,800 and US$3,800 at year-end 2025, with outliers above US$4,000 for penthouses with clean Golf views. The Grand plays in that range, at the upper end. [TO BE VERIFIED for 2026 pricing; the developer may have adjusted following market conditions and construction progress.]
Which typology fits which buyer profile? The 2-bedroom flat (180–200 sqm) is the sweet spot for the international end-user who spends part of the year in Lima — the Peruvian executive returnee living in Madrid or Miami, the buyer looking for a premium second residence with built-in services. The 3-bedroom flat (220–260 sqm) is the sweet spot for high-income local families — typically a Lima C-level or a high-net-worth professional with kids in private schools in Miraflores or San Isidro. Duplexes and penthouses (260–310 sqm) are trophy product: high ticket, clean view, scarce but stable demand.
For executive rental, the project’s most efficient segment is probably the 2-bedroom flat; expat executives arriving in Lima through mining companies, embassies, and multinationals typically need 180–220 sqm with two bedrooms. For pure investment purposes, the yield-to-ticket ratio is usually more conservative on trophy product. If you’re buying from abroad, our guide on buying a luxury apartment in Lima from abroad is a useful next read.
The Audi alliance: the apartment that comes with a car
The Audi alliance is one of the project’s differentiating elements and the reason the Peruvian press covered it with headlines like “the luxury apartments that come with a car.” The agreement, as reported by El Comercio Día1, includes the delivery of a high-end Audi vehicle as part of the purchase package for a specific tier of units. The operational details — exact model, qualifying typologies, benefit conditions — have varied across sales rounds. Interested buyers should verify them directly with the project’s sales team.
What does this alliance aim for? Three things. One: positioning the project in the branded-experience category, where buying the apartment incorporates a tangible benefit beyond the unit — in line with the logic of global branded residences, though it’s not strictly the same since The Grand isn’t sold as Audi Residences. Two: refining the target buyer profile — someone not buying just sqm but integrated lifestyle. Three: amplifying media visibility, because a headline like “apartments that come with a car” travels through social media far better than one about per-sqm pricing and Golf views.
For the buyer, there are nuances worth reading coolly. The “included car” isn’t exactly a “free car”: the vehicle’s cost is implicitly reflected in the apartment ticket. What the benefit delivers is logistical convenience (no separate car purchase, no dealer negotiation) and brand consistency (the client receives a vehicle in a tier matching the unit’s category). In investment-yield terms, the Audi component doesn’t add to residential rental returns; it adds to resale narrative and to the statement of the first delivery — closer to a Porsche Design Tower car-elevator narrative than to a structural revenue lever.
Worth mentioning the commercial close: in May 2025, per El Comercio Día1, The Grand had reached 60% sold. That’s a strong percentage for a project at this ticket in Lima Top, suggesting the architects-location-Audi combination resonated with the target segment well beyond the initial media noise.
Project status as of May 2026: the Q4 2025 delivery
The original delivery announced by Grupo Octagon was Q4 2025, per statements from Fernando Cisneros, Octagon’s director, picked up by El Comercio Día1 in May 2025. As of May 2026, the developer’s public official communications have not explicitly confirmed whether delivery occurred on schedule or was pushed to Q1 or Q2 2026. [TO BE VERIFIED on current delivery status; we recommend the interested buyer contacts the project’s sales team directly.]
Why does this detail matter for the buyer? Three reasons. One: the delivery schedule affects the exact cash-flow timing — the buyer pays the final balance only on receipt. Two: it affects the start of fiscal benefits if a trust or acquisition vehicle is in play. Three: it affects the rental-yield onset for investment buyers — the earlier delivery happens, the earlier the unit produces.
In the Peruvian market context, delays of one to three quarters on large-ticket projects are frequent and not considered structural-problem signals; they typically stem from construction adjustments, availability of imported premium materials, and final municipal approvals. The prudent buyer always works with a three-to-six-month cushion over the announced date and formalizes that cushion in the purchase contract. For tracking your specific unit: maintain documented communication with the project sales team, request signed quarterly progress reports, and verify the milestones triggering your payments against the construction supervisor’s certifications. Transparency in schedule tracking is one of the markers separating serious developers from the rest in Lima Top.
To go deeper on the trust-vehicle logic for transactions of this size, see our guide on real estate trusts in Peru and details on the purchase agreement (contrato de compraventa).
How it compares to other iconic Lima Top projects
In Lima Top’s iconic-project universe, The Grand sits in a category shared by a small group of peers. The immediate references are high-end developments along the Pezet–Coronel Portillo corridor, boutique premium projects in Country Club–El Golf, and projects signed by international architects in cliffside Miraflores. The total count of Lima projects combining international architectural signature, ticket above US$2M, and full premium services doesn’t exceed twenty.
How does The Grand position against those peers? Three axes. One, architectural signature: few Lima projects on market can show a resume like Ott + Ponce de León. Two, branded integration: the Audi alliance is novel for the Peruvian market and doesn’t yet have a direct equivalent in other Lima projects. Three, total size: 24,347 sqm built on a 1,230 sqm lot is high density for Pezet, delivering enough product volume to move the secondary market.
What The Grand isn’t. It isn’t a branded residence in the Fendi Château Residences in Miami or Aston Martin Residences sense. The difference: global branded residences sell the brand name as part of the residential product itself — Fendi designs the finishes, Aston Martin designs the tower. The Grand sells a residential project designed by Ott + Ponce de León with a commercial alliance with Audi. Different products. Lima still has no confirmed branded residences with global brands of the Miami sort; that gap is the subject of our piece on branded residences in Lima.
Quick facts about The Grand
- Address: Av. Pezet at Av. Coronel Portillo, San Isidro, Lima.
- Developer: Grupo Octagon. Director: Fernando Cisneros.
- Architects: Carlos Ott (Uruguay) + Carlos Ponce de León (Uruguay).
- Levels: 22 floors, 70+ meters tall.
- Units: 72 apartments. Areas 150–310 sqm. Flats, duplexes, penthouses.
- Original ticket: US$500,000–US$2,000,000 (2026 pricing TO BE VERIFIED).
- Commercial alliance: Audi (vehicle included for specific tier).
- Announced delivery: Q4 2025 (current status TO BE VERIFIED).
- May 2025 commercial close: 60% sold.
Frequently asked questions
Who designed The Grand and what iconic projects have they signed?
Carlos Ott (Uruguayan, based in Toronto) and Carlos Ponce de León (Uruguayan, based in Montevideo). Ott won the Opéra Bastille international competition in Paris (1983), and signed the Burj Al Arab in Dubai and the National Bank of Dubai. Ponce de León has been Ott’s partner since 2004; together they’ve signed Jade Ocean in Sunny Isles Miami, Echo Brickell, and the Waldorf Astoria Miami. The Grand is the duo’s first project in Lima.
What does the Audi alliance include and which units qualify?
Per El Comercio Día1, the agreement includes delivery of a high-end Audi vehicle as part of the purchase package for a specific tier of units. Operational details — exact model, qualifying typologies, benefit conditions — have varied across sales rounds. The interested buyer should verify directly with the sales team. The “included car” isn’t free: its cost is implicitly reflected in the apartment ticket.
Did the Q4 2025 delivery happen or was it postponed?
The original announced delivery was Q4 2025 per Fernando Cisneros, Octagon’s director, in May 2025. As of May 2026, there’s no explicit public communication from the developer confirming whether delivery occurred or was pushed. [TO BE VERIFIED by contacting the sales team directly.] Delays of 1–3 quarters on large-ticket Peruvian projects are frequent and not signals of structural problems.
How much does an apartment at The Grand cost?
The original announced range was US$500,000 to US$2,000,000, adjusted by area, floor, and view. For premium product on the Pezet–Coronel Portillo block, per-sqm pricing at year-end 2025 ran US$2,800–3,800, with outliers above US$4,000 for penthouses with Golf views. The Grand plays at the upper end of that band. 2026 pricing remains [TO BE VERIFIED] with the project sales team.
What typologies are available?
72 apartments split across flats (the majority), duplexes, and penthouses. Areas range 150–310 sqm with 1, 2, and 3-bedroom typologies. The international end-user sweet spot is typically the 2-bedroom flat (180–200 sqm); for high-income local families, the 3-bedroom flat (220–260 sqm). Penthouses are upper-floor trophy product. The full stock breakdown by typology isn’t fully public.
Is The Grand a branded residence?
Not in the strict sense. Global branded residences (Fendi Château, Aston Martin Residences, Porsche Design Tower) integrate the brand into the residential design itself. The Grand is a project signed by Ott + Ponce de León with a commercial alliance with Audi. Different categories. As of May 2026, there are no confirmed branded residences with global brands in Peru.
The bottom line
The Grand is the kind of project that sets precedent. The combination of international architectural signature, location on one of Lima Top’s most prized blocks, ticket above the million-dollar mark, and Audi commercial alliance places the project in a category the Peruvian market hadn’t seen before with this clean an execution. For the local high-income buyer it’s a high-end ownership option backed by architectural-brand support. For the international buyer — Peruvian returnee, expat, US-Hispanic investor — it’s the most readable address for entering top-tier San Isidro without paying the absolute premium of Country Club proper. Worth verifying before commitment, in May 2026: actual delivery date, current pricing by typology, and details of the active Audi alliance at close. That conversation closes with the project sales team, not in this article.
Information about The Grand is sourced from public records and official communications from Grupo Octagon as of May 2026. Specifications, pricing, and delivery dates may change. Always confirm current details directly with the project’s sales team. Penthouse.pe is neither a financial advisor nor a commercial representative of Grupo Octagon; this article is independent editorial coverage.
Considering The Grand or another premium San Isidro project? Email hola@penthouse.pe and we’ll connect you with the full editorial read on the Pezet corridor — including per-sqm comparisons, typologies, and purchase terms.
