The décor is that sort of modern industrial look with appealing art and comfortable, casual table settings. High vaulted ceiling in a professionally and effectively lighted space created an elegant, yet unassuming atmosphere. A bar ran along the left wall of the room with a large open kitchen along the same wall at the back of the building behind glass that enabled the diners to view the busy staff of Peruvian chefs going about their business. Our only complaint with regard to the ambiance of the place was the microwave oven and a disorderly arrangement of plastic containers, bowls and boxes of plastic wrap, sacks of flour, and other kitchen supplies on a shelf located on the back white tiled wall in the kitchen. It was oddly out of place in this otherwise beautifully designed restaurant.Large and visually stunning menus prepare the diner for what’s inside ... a creative, albeit high priced menu. The music was not as carefully chosen as the décor. Although it was faint, a musical playlist that includes hip-hop artist Eminem chanting rap lyrics in a upscale Peruvian restaurant struck a note of discord. It just wasn’t quite right.My Chilean friend, who I consider a trusted critic on Pisco Sours, said the one he ordered was good but could have used a little more pisco.The food? My companions and I sampled two of the Food Week three course menu offerings on this visit. The appetizers were a ceviche, which had cold, fresh fish in a lime marinade that was the perfect balance of heat, acidity and sweetness accompanied by a few crisp rings of fried calamari. It was one of the best ceviches I’ve tasted. The other appetizer was sort of an egg roll with fresh sautéed morsels of seasoned beef tenderloin with finely julienned, sautéed vegetables. Both dishes were equally visually appealing. The eggrolls were precisely sliced on a bias and presented on a slate tablet that was visually impressive. The ceviche was served in a huge white bowl that was also visually impressive.For the main course we ordered a shrimp concoction served on a tacu-tacu base. Tacu-tacu is a patty made primarily from black beans that is staple in Peruvian cuisine. This was, quite frankly, the tastiest version of tacu-tacu I have ever encountered and I’ve eaten in dozens of the world’s best Peruvian restaurants. This was a winner.The other main course was small narrowly sliced portion of red salmon, skin on, cooked on the open grill. The skin was crisp, the flesh caramelized. Cooked perfectly and laid across a creamy, buttery swirl of fettuccine. The pasta sauce was a little dry by the time the dish was served. This was the only minor infraction in an otherwise flawless execution on both the appetizers and main course.We concluded the meal with a Dark Rich Chocolate cake with soft “molten” chocolate filling and rich and creamy vanilla ice cream snoop accompanying it on the side. The other dessert was a small dessert glass filled with a tropical fruit sorbet and topped with some sweet chilled cream on top. Tasting a dab of the sweet cream with each bite of the mildly tart sorbet created a delicious contrast of taste. Both desserts were equally well conceived and executed. Ummm.All this delicious and unique Peruvian fare came at a high price. Although we received this outstanding three course meal for a paltry $250 (about US$20) it would run almost twice that at the regular menu prices. Almost all the menu offerings were above $200 and probably averaged closer to $250. This three course meal would have normally set us back about $600 each. But despite the high price by BA standards, this was an excellent meal. Even at full price worth an occasional visit.We’ve provided a value rating based on our perception of what the meal would have cost had the discounted menu be offered at full price.Execution an admirable 4.5. Service almost equally as good with 4 stars. Ambiance, again impressive with 4 stars. It would have scored 4.5 were it not for the disarray on the back wall in the open kitchen. Service receives 4 Stars. It was good but not flawless. Creativity? Again. 4.5 stars with this presentation of Peruvian classics being taken to a gourmet level. With extraordinarily high prices we simply couldn’t give the restaurant good marks for value. But an extraordinary meal at any cost is a value. So we scored Olaya a 3 for value. With an overall score of 4 stars, Olaya joins the elite group of restaurants in Buenos Aires that scores above 4 in our overall rating.The taste of the food and the execution had Gaston’s La Mar beat. But with higher scores on value with a lower priced menu nearby Peruvian restaurant La Mar slightly edged out Olaya in the overall rating. With a slightly lower priced menu this would be our restaurant of choice in BA for Peruvian fare.