We consider K-Nearest Neighbor search for high dimensional data in large-scale structured Peer-to-Peer networks. We present an efficient mapping scheme based on p-stable Locality Sensitive Hashing to assign hash buckets to peers in a Chord-style overlay network. To minimize network traffic, we process queries in an incremental top-K fashion leveraging on a locality preserving mapping to the peer space. Furthermore, we consider load balancing by harnessing estimates of the resulting data mapping, which follows a normal distribution. We report on a comprehensive performance evaluation using high dimensional real-world data, demonstrating the suitability of our approach.