Bloomberg Businessweek Highrise Luxury on the High Seas
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Oct 6, 2025 Russell Galbut, managing principal of Crescent Heights and former chair of Norwegian Cruise Line, dives into his bold venture of transforming cruise ships into luxury condos. He discusses a $230 million deal for the Seven Seas Navigator, which will feature 210 upscale units designed for long-term living at sea. With amenities like pools, restaurants, and room service, Galbut envisions a vibrant community aboard. He also highlights flexible ownership options, making this innovative lifestyle accessible and appealing for families, remote workers, and more.
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Design Complete, Shipyard Work Underway
- Crescent Seas finished the ship design phase and is now contracting yards to complete work for a December 2026 launch.
- The company plans three ships with staggered deliveries in 2026, 2027 and 2032, signalling a multi-ship strategy.
Suites Become Full Residences
- Crescent Seas frames residences as combined suites so owners get much more living space than standard cruise cabins.
- Owners share expansive common amenities, resembling a small private-yacht community aboard one ship.
Lean On Onboard Services
- Rely on ship services and communal dining rather than cooking in-unit to maximize the lifestyle offering.
- Use the ship's chef kitchen or room service for entertaining instead of fitting full domestic routines into your suite.