US real estate developer, Crescent Heights , is making a dive into luxury cruising. Residential luxury cruising.

On Friday, the firm announced it has acquired Regent Seven Seas Cruises’ Seven Seas Navigator , and will use the ultra luxury ship to develop an exclusive new residential model, offering high-end residences at sea under the brand of Cresent Seas .

Crescent Seas will launch with the Navigator in December 2026. The new brand’s fleet will swell to five ships, including an artist’s impression of what looks like a megayacht, branded as Ocean Residence at Sea.

Under an agreement with the ship’s owners, who are affiliates of Norwegian Cruise Line Holdings Ltd, Seven Seas Navigator will undergo an extensive and top-grade refurbishment of more than US$50 million.

The project is backed by Russell Galbut, a cruise industry veteran and former chairman of Norwegian Cruise Line Holdings. Under Galbut’s development expertise, coupled with his over 23-year tenure in the cruise industry gives, the startup says it has a “unique vantage point to meet the current market demands and drive the success of Crescent Seas”.

Three design firms are working with Crescent Seas to complete the redevelopment, Lissoni & Partners , Journey and MAWD , each responsible for respective features across the ships.

Seven Seas Navigator is comprised of 248 suites. Crescent Seas will reconfigure the Navigator to feature 210 residences, ranging from US$750,000 to US$8 million. Amenities will include white-glove butler service for all units and Starlink internet connection to allow for remote work or schooling.

Crescent Seas describes itself as “the ultimate residence at sea community, redefining the art of world travel with unparalleled sophistication, personalised service, and a sense of home no matter where you are. Crafted for the discerning explorer who craves adventure without sacrificing exclusivity and opulence.

Russell W. Galbut , a founding partner of Crescent Heights and a leader in the cruise industry, is spearheading the growth of Crescent Seas. He says, “After spending so much time on the seas, we noticed that travellers yearned for more. People on the ships kept telling us they wanted to live this luxurious lifestyle. So, we decided to select ships with the right configurations to convert to the most magnificent cruising yachts,” Galbut said.

“With most of the earth’s surface covered by water, it only felt right to use our 50 years of development expertise on land, to create the most magical residences at sea.

“Why vacation to just one gateway city when you can be at home and live in all the greatest gateway cities around the globe? After hand-selecting this ship, we hired the same experienced management teams to operate the ship for the first 10 years of operations. We are delighted to be able to provide luxury homes to people that will carry them to places they’ve only dreamed of.”

Unlike traditional commercial cruises, owners of these best-in-class residences will journey on extended voyages around the world staying in each destination for 2 to 3 days.

Itineraries will span across all seven continents, reaching some of the most far stretched destinations on the planet.

“Residents will venture to exotic parts of the world to explore places like French Polynesia , the Faroe Islands and Madagascar,” said Marisa Galbut , President of Crescent Seas .

Ensuring a first-class level of service, each ship will be operated and maintained by their existing crews; and the day-to-day on-board hospitality services will continue to be handled by the existing service provider, The Apollo Group . With more than 50 years of experience in the cruising industry, The Apollo Group will provide the highest level of service and dining for every resident as they have in the past.

“We are delighted to announce that Navigator will continue to sail the ocean with Crescent Seas. While we know Navigator is a favourite to many guests, with our two new Prestige Class ships on order, this agreement allows us to optimise our fleet while ensuring Navigator continues creating unforgettable memories at sea,” said Jason Montague , Chief Luxury Officer of Regent Seven Seas Cruises .

Crescent Seas is being launched through GFO Investments, Galbut’s global family office and a major investor in Crescent Heights. As Co-Founder and Managing Principal of Crescent Heights, Galbut has an exemplary track record of developing urban projects in gateway cities across the country including Ten Thousand Santa Monica Blvd and The Remington in Los Angeles, Forma Miami, and the redevelopment of 25 Broad Street in New York City into the most desired homes and residences.