We present an algorithm for the c-approximate nearest neighbor problem in a d-dimensional Euclidean space, achieving query time of O\left( {dn^{1/c^2 + o(1)} } \right) and space O\left( {dn + n^{1 + 1/c^2 + o(1)} } \right). This almost matches the lower bound for hashing-based algorithm recently obtained in [27]. We also obtain a space-efficient version of the algorithm, which uses dn+n log^{O(1)} n space, with a query time of dn^{O(1/c^2 )}. Finally, we discuss practical variants of the algorithms that utilize fast bounded-distance decoders for the Leech Lattice.