Crescent Seas converts cruise ships into floating homes

Crescent Seas, a newly launched venture from real estate developer Crescent Heights, is entering the high-end residential cruise market with plans to convert former passenger ships into luxury floating homes.

Former Oceania Cruises' Insignia (pictured) will be transformed into a luxury residential ship by Crescent Seas, joining The Navigator—a $70 million conversion of the former Seven Seas Navigator set to launch in 2026. Both vessels will offer private residences at sea, ahead of the company’s first purpose-built ship, The Ocean, expected in 2032. Credit: Bespoke Luxury Marketing/Crescent Seas — Former Oceania Cruises' *Insignia* (pictured) will be transformed into a luxury residential ship by Crescent Seas, joining *The Navigator*—a $70 million conversion of the former *Seven Seas Navigator* set to launch in 2026. Both vessels will offer private residences at sea, ahead of the company’s first purpose-built ship, *The Ocean*, expected in 2032. Credit: Bespoke Luxury Marketing/Crescent Seas

The company aims to cater to ultra-wealthy individuals seeking a permanent life at sea — a concept first introduced by the residential ship The World more than two decades ago.

The first ship, formerly Regent’s Seven Seas Navigator, will be renamed The Navigator and is scheduled to begin operations in December 2026 following a $70 million refurbishment. A second vessel, Oceania Cruises’ Insignia, is expected to join the fleet in 2027 after a $50 million overhaul. Crescent Seas has also announced plans for a purpose-built ship, The Ocean, with delivery projected in 2032.

The interior of Crescent Seas’ three residential ships will feature private oceanview homes with luxury finishes, gourmet kitchens, and spacious living areas. Onboard Insignia and The Navigator, residents will enjoy butler service, coworking lounges, hydroponic gardens, wine cellars, and spa-level wellness centers. The purpose-built The Ocean, launching in 2032, will expand this vision with fully customized layouts, advanced smart-home tech, and social spaces designed for long-term global living. Credit: Crescent Seas — The interior of Crescent Seas’ three residential ships will feature private oceanview homes with luxury finishes, gourmet kitchens, and spacious living areas. Onboard *Insignia* and *The Navigator*, residents will enjoy butler service, coworking lounges, hydroponic gardens, wine cellars, and spa-level wellness centers. The purpose-built *The Ocean*, launching in 2032, will expand this vision with fully customized layouts, advanced smart-home tech, and social spaces designed for long-term global living. Credit: Crescent Seas

The refurbished ships will offer 210 residences ranging in price from $750,000 to $8 million, with annual service fees starting at $210,000. Amenities include butler service, co-working spaces, podcast studios, hydroponic gardens, private wine storage, and full Starlink internet coverage. Unlike traditional cruises, Crescent Seas vessels are designed for full-time living, with longer stays in each destination and a residential structure that allows owners to treat their cabins as primary homes.

This isn’t just about cruising, It’s about creating a mobile residential community that brings together luxury, flexibility, and global exploration. CEO Steven Silver In an earlier press release

Building on an existing model

The concept of residential cruising is not new. The World, launched in 2002 and still operational, was the first ship designed entirely around private ownership, offering 165 apartments and circumnavigating the globe on long itineraries. Other similar projects have followed with mixed results, including Storylines' still-delayed MV Narrative and ambitious proposals from companies like Utopia Residences.

Crescent Seas appears to be learning from these ventures — opting for existing tonnage, partnerships with established cruise and hospitality providers, and a phased approach. Technical operations will be handled by Norwegian Cruise Line Holdings, while hotel and hospitality services will be managed by Apollo Group, which has a long track record in shipboard service delivery.

The demand for more dynamic, immersive living is only growing,We’re offering a real estate experience that travels. Bruce Menin co-founder noted in a recent interview.

High demand, high risk?

While the luxury residential cruise concept targets a niche market, interest appears to be growing. Rising numbers of high-net-worth individuals, a remote work culture, and demand for alternative forms of living have contributed to renewed momentum in the sector. Still, challenges remain — including high entry costs, complex logistics, and uncertain resale value of ocean-based residences.

Crescent Seas hopes its real estate background will help address some of those concerns. The project is being developed by Crescent Heights, a company known for upscale condominiums in major U.S. cities. The move to sea marks a major departure for the firm, but executives believe the appetite is there.

Crescent Seas offers private residences aboard their luxury ships, with prices ranging from $650,000 to $10 million, depending on the vessel and suite specifications. The Navigator features 210 residences priced between $750,000 and $8 million, while Insignia offers 290 residences starting at $650,000 up to $10 million. Annual maintenance fees begin at $210,000, covering services such as butler service, gourmet dining, housekeeping, and Starlink internet connectivity. Credit: Bespoke Luxury Marketing, Crescent Seas — Crescent Seas offers private residences aboard their luxury ships, with prices ranging from $650,000 to $10 million, depending on the vessel and suite specifications. *The Navigator* features 210 residences priced between $750,000 and $8 million, while *Insignia* offers 290 residences starting at $650,000 up to $10 million. Annual maintenance fees begin at $210,000, covering services such as butler service, gourmet dining, housekeeping, and Starlink internet connectivity. Credit: Bespoke Luxury Marketing, Crescent Seas

Facts about Crescent Seas

Crescent Seas is a luxury residential cruise venture launched in 2024 by Crescent Heights, a prominent U.S. real estate development firm. The initiative aims to offer permanent residences aboard cruise ships, combining high-end real estate with global travel.

Company overview

Name: Crescent Seas Development, LLC
Founded: November 2024
Headquarters: Miami, Florida
Parent Company: Crescent Heights
Founders: Russell W. Galbut, Bruce Menin, Sonny Kahn
Industry: Residential Cruising / Luxury Real Estate

Background on Crescent Heights

Established in 1989, Crescent Heights specializes in developing architecturally distinctive mixed-use high-rises across major U.S. cities, including Miami, New York, Los Angeles, and Chicago. Notable projects include the NEMA towers in Chicago and San Francisco, and the Ten Thousand in Los Angeles .

Crescent Seas initiative

Crescent Seas represents Crescent Heights' expansion into maritime residential living. The venture plans to convert existing cruise ships into luxury residences, offering amenities such as butler service, Starlink internet, and specialized storage for items like wine collections and scuba gear .

Fleet and future plans

The Navigator: Formerly the Seven Seas Navigator, this ship will undergo a $70 million refurbishment to become a 210-residence vessel, launching in December 2026.
Insignia: Acquired from Oceania Cruises, this ship is slated for a $50 million transformation and expected to debut in 2027.
The Ocean: A newbuild vessel planned for delivery in 2032, designed specifically for residential cruising.

Partnerships

Crescent Seas has partnered with Norwegian Cruise Line Holdings for technical operations and the Apollo Group for hospitality services, ensuring experienced management of its residential fleet .

This venture marks a significant step in redefining luxury living by integrating real estate development with global maritime travel.