Russell Galbut is the Managing Principal and Co-Founder of Crescent Heights, one of America’s largest and most respected residential real estate development firms. He is also the Founder of GFO Investments.
With 35 years of experience at Crescent Heights, in the urban mixed-use real estate sector, Mr. Galbut has established Crescent Heights as a “best in class” developer with a proven track record in both new construction and renovations. The company has been active in more than 15 major metropolitan markets across the United States, developing over 50,000 residential units and pioneering innovative concepts such as the condo-hotel model, including the world’s largest condo-hotel, the Ala Moana in Hawaii. In 2025, Mr. Galbut will celebrate his 50th anniversary of building “homes in the sky,” a milestone achievement in his celebrated career.
Raised in Miami Beach, Mr. Galbut attended Miami Beach Hebrew Academy High School before earning a degree from the prestigious Cornell University School of Hotel Administration in 1974. Following graduation, he joined Laventhol and Horwath as a consultant specializing in real estate development and investment. After obtaining his CPA, he transitioned into development, beginning his first condominium projects in Miami Beach in 1976. While actively building and developing properties, Mr. Galbut attended the University of Miami School of Law, earning his J.D. and admission to the Florida Bar in 1980. In 1989, he co-founded Crescent Heights alongside his current partners.
Under Mr. Galbut’s leadership, Crescent Heights has successfully completed numerous high-profile conversion projects in Miami Beach, including the Decoplage, Shelborne, Carriage Club, Carriage Club North, Castle Beach Club, Carriage House, The Pavilion, and Casablanca. Collectively, these projects have elevated the assessed values of these properties to over $2 billion. Crescent Heights continues to lead in national development, with ongoing projects in five U.S. cities.
In addition to his real estate ventures, Mr. Galbut was a founding director and investor in Prestige Cruises, which owned Regent Seven Seas and Oceania Cruises—brands later sold to Norwegian Cruise Line Holdings (NCLH). A former chairman of NCLH, Mr. Galbut served on its board for over 23 years.
Most recently, he has spearheaded the launch of the 51-story Gale Miami Hotel & Residences in Downtown Miami and the opening of ultra luxury residential projects Forma, 72 Park and Five Park, also in Miami.
Mr. Galbut remains active in various public, charitable, and private organizations. He serves on the Board of Trustees for the Simon Wiesenthal Center and is an advisory trustee member of the Cornell University School of Hotel Administration.