Russell Galbitt and his wife, Ronallie, have been obsessed with cruising since their first voyage 47 years ago. Galbut’s ambitious career as a decades-long real estate developer – land-based not slowing down his love for the ocean.
Now the family is married to two activities and is launching Crescent Seas, a luxurious condominium cruise line that the first ship is scheduled to sail in the second half of 2026.
Galbut has served on the board of cruise line companies for over 25 years, including NCL Holdings until last year, and considers luxury private property at sea to be the next big thing in the cruise industry. He said he wanted to bring his company vision to “build a magical community in the sky and onto the high seas.”
Crescent Seas is a new venture founded by leading investors in GFO Investments, Galbut’s global family office and Crescent Heights. He is the co-founder and managing principal of Crescent Heights and the founder and chairman of Crescent Sea. His daughter, Marisa Galbitt, is also a key part of the business, and is president of Mikazuki Umi and president of GFO Investment.
Can the galaxy succeed in the ocean after others fail?
The concept of private land at sea has been gaining hype and headlines in recent years. However, only one condo ship launched in 2002 now surrounds the glove. Meanwhile, it announced that several condo cruise initiatives have not been realized over the past few years.
Galbut (72) believes that it can succeed due to its long-standing relationship between its real estate and cruise expertise and shipyards and other important services where cruise lines order new ships. Throughout the industry, 60 new ships are listed on orders.
He believes the timing is correct too.
“This couldn’t happen years ago,” Galbut said in an interview with the Miami Herald at Midim Cool, an intimate topic underground at one of the developer’s hotels, Gale South Beach Hotel. His wife, Ronalee and daughter Marisa were there too. Dozens of friends and wealthy people had gotten previews of his plans.
The advent of high-speed internet access from StarLink and hybrid workplaces has allowed people to work remotely. “More than ever today, lifestyles allow for mobility,” he said.
Then there is the volatility of today’s world. The long-standing alliance has been dissolved. Unpredictable economic policies are bothering us.
“Whenever there is uncertainty, there are people looking for plan B,” Galbut says.
This is some plan B.
The amenities feature include White Globe Butler Service, Pickleball, Athletic Field Trips, and community activities supported by the app that allows residents to create their own groups.
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“All the amenities you find in our top-notch buildings are there,” he said.
An internet connection is strong enough to allow remote schooling and work.
The unit owner then ultimately decides the ship’s itinerary. They are expected to choose a port that allows for longer than regular cruise ship stays, and can stay for two to three days, including vague truck locations like Polynesia, the Fallow Islands and Madagascar in France.
Miami Beach Family Roots
South Florida was considered to be out of the beaten track when the Galbit family first returned home. Russell Galbit was born in Miami Beach in the 1950s. His grandparents, Abraham and Bessie Galbitt, owned the entire corner of Fifth Street and Washington Avenue after their arrival in the early 1930s, and eventually ran a newsstand, the first automatic tag agency on the beach, a travel agency, a driving school and a law firm.
His mother, also known as Bessie Galbit, was a well-known philanthropist. When she passed away in 2015 at the age of 92, the Miami Herald obituary described her as “optimist even when Miami Beach culture was always the least welcome in the environment.” Bessie M. Galbit Daughter of the Israeli Mikva Center in Miami Beach, an orthodox Jewish ritual bus, was named after her.
Russell Galbitt, a graduate of the University of Miami Law School, has since founded his name, particularly in the hospitality business. Through his partners and the company, he co-founded Crescent Heights and developed Alexander, Casablanca, and the luxury condominium complex Decoplage in Miami Beach.
Last year he opened Gale Miami Hotel & Residence in downtown Miami, 11 years after Gale South Beach opened.
Galbut’s 50 years of development expertise was terrestrial. However, with the majority of the Earth’s surface covered in water, the family began to think about bringing style into the ocean and giving gorgeous travelers more options.
“Why are you on vacation to one Gateway City when you can stay home and live in all the great entrance cities of the world?” Galbut asked.
Residential ship debut
Galbut’s first two luxurious condominium ships will be built on the history of his development work on the land. When he left the NCL Holdings board where he was chaired, he negotiated the purchase of two retirement vessels that would be re-equipped as condos.
On athletics, the Condominium Association usually takes over all management once the units are sold out. Aboard the Crescent Sea, the company that currently operates the ship, Apollo Management will continue to operate the ship for ten years. Most members of the crew already working on board are expected to remain, Galbut said.
In October, the first ship, Regent Seven Sea Navigator, entered the dry dock in Genoa, Italy, where 1,400 workers will be transformed into 210 units priced between $750,000 and $8 million. Additionally, condo owners pay just under $200,000 in annual maintenance fees and purchase $32,500 in annual food credits for the two.
The rooms are larger than typical cruise ship cabins ranging from 350 square feet to 2,200 square feet.
Ready to sail in December 2026, the navigator is set to depart from Port Miami, but will sail around the world.
Second condo boat etc.
The second ship is the Oceania insignia and will be revived for the launch in December 2027. Like the first ship, the vessel will undergo at least $50 million renovations.
Crescent Seas will also announce four more luxurious residential ships over the next five years.
Sales of the first ship units began in April. Insignia homes will be sold to the public at the end of summer 2025.
There may be some lease options in the end, but these condos on the ocean aren’t timeshares or Airbnbs.
This is “very different to timeshare,” says Galbut. “The owner will most likely board the boat.”
He described it as a second or third home.
“It’s a lifestyle choice.”
