Sailing into Luxury: Miami Developer’s Vision for Condos on a Cruise Ship

Russell Galbut and his wife, Ronalee, have been avid cruisers for 47 years, yet Galbut’s extensive career in real estate has not diminished their passion for the sea. They are now combining these interests by launching Crescent Seas, a luxury condo cruise line set to make its inaugural journey in late 2026. This initiative is self-financed by the Galbut family.

With over 25 years on the board of various cruise line companies, including NCL Holdings, Galbut is convinced that luxury private residences at sea represent the future of cruising. He aims to redefine this experience by creating “magical communities in the sky” on the high seas.

Crescent Seas is a new venture under GFO Investments, Galbut’s family office. He is the co-founder and managing principal of Crescent Heights and serves as chairman at Crescent Seas. His daughter, Marisa Galbut, plays a significant role in the company as its president.

Despite the hype surrounding the concept of condo ships and previous failures in the market, Galbut believes his extensive real estate experience and connections within the industry will help him succeed. He emphasizes that the timing is ideal, thanks to the increase in remote work options and people seeking flexible living arrangements amid global uncertainties.

Crescent Seas aims to offer onboard amenities akin to those found in Galbut’s high-end real estate projects, including white-glove butler services, pickleball, and special community activities. Residents will have robust internet access to support remote work and schooling.

The ship’s itinerary will be user-driven, potentially including extended stays in lesser-known destinations such as French Polynesia and Madagascar, rather than the typical one-day stops associated with regular cruises.

Growing up in Miami Beach, where his family has deep roots, Galbut has been influential in the local real estate scene, developing renowned properties such as The Alexander and the Gale Hotels. His latest venture into luxury cruising is seen as an extension of his success on land.

Crescent Seas’ flagship ship, the Regent Seven Seas Navigator, will undergo refurbishment for its condo launch. The excitement continues with plans for a second ship, the Oceania Insignia, scheduled to launch in December 2027. Units on the first ship are priced between $750,000 to $8 million, with annual maintenance fees and onboard credits required.

Through Crescent Seas, Galbut envisions a community where homeowners can live luxuriously while enjoying the freedom of travel, redefining what it means to have a home. With four additional luxury residence ships planned over the next five years, Galbut’s endeavor promises to explore new frontiers in upscale living at sea.

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