Russell W. Galbut '74

Russell W. Galbut '74

Russell W. Galbut '74

Managing Principal
Crescent Heights

Having been active in the urban mixed-use real estate sector for over 30 years, Russell Galbut '74 and Crescent Heights is a "best in class" developer with a successful track record in new construction and renovations. The company has been active in over 15 major metropolitan markets from coast to coast and has developed over 50,000 residential units and/or hotel rooms pioneering the condo hotel concept, including the largest condo hotel in the world, the Ala Moana. Crescent Heights has received many awards, several for their leadership in the delivery of high end services in the residential housing world resembling that of a five-star hotel.

After graduating from the Cornell University School of Hotel Administration (SHA) in 1974, Galbut became a consultant with the then-accounting firm of Laventhal and Horwath, specializing in real estate investment and development. He left there in 1976 to begin his first of many condominium construction projects in Miami Beach, Florida. In 1983, he purchased the Shelborne Hotel on Miami Beach, and in 1989, he co-founded Crescent Heights and purchased the Alexander Hotel and helped start the condominium-hotel industry.

Galbut has served on numerous boards of public, charity, and private companies. He was one of the founding directors of Prestige Cruises, owners of the brands Regent Seven Seas and Oceania Cruises which was bought by Norwegian Cruise Lines in 2015. Galbut now serves on the public board of NCL and on the boards of trustees of several national organizations, one being the Simon Wiesenthal Center.

Galbut received his BS in hotel administration from SHA and a JD from the University of Miami School Of Law. He also earned his CPA certification in Florida. Galbut and his wife, Ronalee, live in Miami Beach, FL. Their daughter, Marisa, who is a graduate of the Master of Management in Hospitality program at SHA, works at Crescent Heights heading up retail operations.