The former United Artists boss passed away last Wednesday (29Sep10) at the NYU Hospital in New York after suffering heart failure.
Albeck is best known for his 30-year tenure at the Hollywood studio, working with renowned filmmakers including Woody Allen, Martin Scorsese and Francis Ford Coppola.
He was instrumental in bringing Scorsese's Oscar-winning 1980 film Raging Bull to the big screen and was also involved with the James Bond franchise, the Rocky movies and the Pink Panther pictures.
Albeck, who later retired from Hollywood to run a Christmas tree farm in New Jersey with his wife Lotte, also appeared on screen in Woody Allen's 1980 movie Stardust Memories, playing a studio head based on himself.
He is survived by his wife and children, Johannes and Nina.