Ocean Five Residences: Five Private Urban Homes in the Heart of Condado

A rare collection of five private, multi-level residences brings a house-like living experience to one of San Juan’s most established urban neighborhoods.

New residential inventory is difficult to create in Condado. This is an established neighborhood where much of the coastline and Avenida Ashford have been developed for decades. As a result, buyers searching for luxury property here are typically choosing among condominium resales, renovated apartments and a relatively small pipeline of new construction.

Ocean Five Residences introduces something different. Located at 1409 Ashford Avenue, Ocean Five is a limited collection of only five private vertical residences, within a boutique building, with controlled access and 24/7 security. Rather than recreating the traditional high-rise condominium experience, the project has been designed around a different idea: bringing much of the privacy, independence and scale of a single-family home into the heart of Condado.

For buyers who want urban living without feeling like they live in a conventional apartment building, that distinction matters.

What Is Ocean Five Residences?

Each Ocean Five residence extends across five levels, connected by a private elevator and accessed through its own entrance. Residence 1, currently offered in pre-construction, includes approximately 4,260 square feet of interior living space and 6,069 square feet of total area. But the floor plan tells the story better than the square footage alone.

LEVEL 1, ARRIVAL & GARAGE

The first level includes a private foyer and an unusually large four-car garage, with two integrated EV charging stations. A flexible room with an en-suite bathroom creates additional space that could function as a guest room, office, gym or other private-use area. In Condado, where parking can be a significant consideration even at the luxury end of the market, a private four-car garage is a meaningful differentiator.

Arrival is through a gated vehicular entry and a covered porte-cochere that leads directly to each home’s private garage, which also contains dedicated storage rooms.

LEVEL 2, INDOOR-OUTDOOR LIVING

The second floor becomes the social center of the residence. Living, dining and kitchen spaces open through expansive floor-to-ceiling glass toward a private courtyard with landscaping, a plunge pool and an outdoor kitchen. The main kitchen is designed with integrated premium appliances, custom cabinetry and a substantial stone island.

Instead of treating outdoor space as a balcony attached to an apartment, Ocean Five incorporates it into the architecture of the home.

The courtyard holds a plunge pool with a water feature, framed by stone walls and planting that screen it from the street.

LEVEL 3, SECONDARY BEDROOMS

Three secondary bedrooms occupy the third level, each with its own en-suite bathroom. The laundry room is also located on this floor, creating separation between the home's entertaining areas and its more private residential spaces.

LEVEL 4, THE PRIMARY SUITE

The entire fourth floor is dedicated to the primary suite. It includes a spa-inspired bathroom with a sauna and generous walk-in closets, effectively creating a private owner's level within the residence.

LEVEL 5, PRIVATE ROOFTOP

The final level opens to a rooftop lounge designed for entertaining and indoor-outdoor living. A second outdoor kitchen and grilling area creates another private gathering space above the neighborhood. Throughout the residence, high ceilings, large-format flooring and floor-to-ceiling windows are designed to maximize natural light and reinforce the scale of the interiors. The finish package is specified as large-format porcelain stone flooring, custom millwork in rich woods, custom metalwork and architectural lighting.

GROSS AREA BY LEVEL

The developer’s brochure publishes the gross area of each floor, which is the clearest way to understand how the 6,069 square feet are actually distributed:

• Ground floor (garage, storage and service): 1,321 sq. ft.
• Second floor (living, dining and kitchen): 1,395 sq. ft.
• Third floor (secondary bedrooms): 1,083 sq. ft.
• Fourth floor (primary suite): 1,108 sq. ft.
• Rooftop level: 1,132 sq. ft.

No single floor is oversized. The residence reads as a house because the square footage is stacked, not spread, and each level has one clear purpose.

The Details Buyers Relocating to Puerto Rico Should Notice

Luxury in Puerto Rico isn't defined only by finishes, views or architecture. Infrastructure matters. Ocean Five residences are planned with: full-power backup generation for each residence, dedicated water cistern, controlled access, integrated security systems, infrastructure prepared for home automation and Two EV charging stations within the private garage.

These may not be the features that attract the most attention in a rendering, but they are among the items sophisticated buyers should evaluate carefully when comparing luxury properties in Puerto Rico. Backup power and water redundancy, in particular, can materially affect the experience of owning a home on the island. Together with controlled access and 24/7 monitoring, they are what make a true lock-and-leave residence possible: an owner can travel for weeks and the house keeps its power, water and security without anyone on site. For relocation buyers accustomed to highly reliable utility infrastructure elsewhere, these systems shouldn't be treated as an afterthought. They should be part of the due-diligence conversation from the beginning.

Timeline, Investment and Financing

On September 24, 2026, TGR Holdings released the first official figures for the project. Ocean Five represents an investment of approximately $22 million. The development is currently in pre-sale and in the final stage of permitting, with construction projected to begin in the first quarter of 2027. Banesco USA has been selected as the institution providing the interim construction financing.

For a pre-construction buyer, those three facts carry more weight than any rendering. A stated construction start gives you something to measure delivery against. Interim financing already secured is the difference between a project that has been announced and a project that has been funded. Both belong in the conversation before a deposit is placed.

Ocean Five was presented publicly for the first time on September 23, 2026, on the rooftop of the AC Hotel San Juan, where guests toured the residences through a virtual reality walkthrough and reviewed the material and finish palette in person.

Who Is Behind Ocean Five?

With pre-construction real estate, buyers are evaluating more than a finished property. They are evaluating the team responsible for delivering it. Ocean Five brings together three principal groups:

TGR HOLDINGS, DEVELOPMENT

TGR Holdings is a privately held real estate investment and development platform focused on residential communities and long-term value creation. The project brochure describes the development arm as TGR Development Group, founded by attorney Roberto J. Alfonso, with more than 25 years creating private, high-end residential enclaves. The September 2026 release from the developer states that TGR has led the development, construction, sale and rental of more than $100 million in real estate inventory and approximately 500,000 square feet, including The Golden Residences at Floral Park and The Golden Residences at The Village.

ORBIS DESIGN GROUP, DESIGN

Orbis Design Group leads the project's exterior design, interiors and brand direction. The studio is led by Juan Luque, whose luxury hospitality experience includes work involving Ritz-Carlton and St. Regis properties.

JOTA ARKITEKTS, ARCHITECTURE & ENGINEERING

JOTA Arkitekts provides architectural and engineering services and was founded by architects José Evencio and Pachi García, who bring more than 27 years of professional experience. That team matters because buying pre-construction is fundamentally different from buying a completed residence. A buyer isn't simply evaluating what exists today. They are evaluating the plans, specifications, contractual obligations and the team's ability to translate the proposed design into the finished product.

Why the Condado Location Matters

Ocean Five sits at 1409 Ashford Avenue, placing residents within one of San Juan's most walkable neighborhoods. From the property, everyday life can extend well beyond the residence without requiring a car. The beach and waterfront are nearby, along with restaurants, cafés, hotels, supermarkets, pharmacies and other daily services.

Landmark hospitality properties including Condado Vanderbilt and La Concha are also part of the immediate neighborhood. For families relocating to Puerto Rico, proximity to schools such as St. John's School and Robinson School can be another important consideration when evaluating Condado.

And connectivity is one of the neighborhood's strongest advantages. Ocean Five is approximately 10 minutes from Old San Juan and Luis Muñoz Marín International Airport, depending on traffic. For executives, business owners and Act 60 residents who travel frequently between Puerto Rico and the mainland United States, that accessibility can be as valuable as an ocean view.

Ocean Five Residence 1: The Numbers

Pricing, specifications, availability and construction details are subject to change and should be independently verified before purchase.

Who Should Consider Ocean Five?

Ocean Five occupies an interesting position within Puerto Rico's luxury market. It may make sense for buyers who want: The privacy of a house without leaving Condado.
You have your own entrance, multiple residential levels, private outdoor areas, pool and garage while remaining in the center of the city. A true lock-and-leave property.
For buyers who divide their time between Puerto Rico and other markets, controlled access and a boutique residential environment can provide an attractive alternative to maintaining a traditional standalone home.

Walkability.
Condado remains one of the few luxury residential markets in Puerto Rico where restaurants, hotels, schools, beaches and everyday services can all be integrated into daily life on foot. Space for a family.
Four bedrooms, multiple entertaining areas, significant parking and proximity to schools make the project relevant to families who might otherwise assume that Condado requires compromising on space.

Urban living while relocating under Act 60.
For some relocation buyers, the objective isn't a resort lifestyle. It's remaining connected to restaurants, business activity, the airport and San Juan while establishing a residence in Puerto Rico.

Who Might Prefer Something Else?

Ocean Five isn't designed for every luxury buyer. If your priority is waking up directly on the beach, this isn't a beachfront residence. If you need immediate occupancy, pre-construction may not fit your timeline.

And if your definition of Puerto Rico living centers around golf, a private beach club, resort amenities and larger estate lots, markets such as Dorado Beach or Bahía Beach may align better with what you're looking for. That's why comparing luxury properties in Puerto Rico only by price per square foot rarely tells the full story. The better question is: What type of life are you trying to build here?

Buying Pre-Construction in Puerto Rico: What We Review

Before committing to any pre-construction property, there are several areas we encourage buyers to examine carefully.

1. THE PAYMENT SCHEDULE

Understand exactly when deposits and subsequent payments become due, what construction milestones trigger those payments and what protections apply to the buyer's funds. Deposit structures are not identical from one development to another. 2. THE SPECIFICATIONS.

Renderings are marketing tools. The specifications and purchase documents determine what is actually being delivered. Buyers should understand the included appliances, flooring, cabinetry, fixtures, landscaping, technology systems and other finishes, along with any substitution rights retained by the developer.

3. PERMITS, TITLE & DEVELOPMENT DOCUMENTS

Title, permits and the legal structure of the development should be reviewed before, not after, a significant financial commitment is made.

4. THE HOA & FUTURE OPERATING COSTS

A $3,000 monthly HOA should be evaluated in context. Buyers should understand what it covers, how the initial budget was established, reserve planning, insurance responsibilities and which costs remain with each individual residence.

5. DELIVERY & CONTRACTUAL PROTECTIONS

Projected completion dates are not the same as contractual delivery obligations. The purchase agreement should explain potential delays, remedies, cancellation provisions and what happens if specifications or timelines change. For a multi-million-dollar pre-construction purchase, these details deserve as much attention as the architecture.

Ocean Five vs. the Rest of Condado

Perhaps the most useful way to understand Ocean Five isn't to ask whether it is a better condominium. It is to recognize that it is attempting to solve a different problem. Some buyers love Condado but don't want a conventional high-rise apartment.

Others want the privacy and scale of a house but don't want the driving, maintenance or resort environment associated with other luxury communities in Puerto Rico. Ocean Five sits between those two worlds. Only five residences.

Private entrances. Four-car garages. Private pools. Five levels. And one of San Juan's most established neighborhoods outside the front door.

That combination is what makes the project worth watching.

Considering Ocean Five Residences?

InvEstate Puerto Rico can coordinate a private presentation of Ocean Five Residences, including available floor plans, specifications, current pricing and the pre-construction purchase structure. More importantly, we can help you compare Ocean Five against the broader Condado luxury market so you can determine whether this type of residence, or another property, better fits your relocation, investment and lifestyle objectives.

InvEstate Puerto Rico
Luxury & Relocation Real Estate in Puerto Rico
787-717-6443
Lic. C-13471

https://investatepr.com/home-search/listings/7930411545655906908-1409-ASHFORD-AVE-1
Buyer representation available. Sources: MLS listing PR9123817, oceanfiveresidences.com and the official Ocean Five Residences brochure (February 2026). Renderings are artist impressions; design, finishes and details are subject to change.