Ambrose K. Monell and his wife, Lili Monell, have sold their lakefront property at 635 Crest Road in Palm Beach for $57 million. The transaction was conducted off-market, reflecting a trend of high-value real estate deals during the town’s peak season.
The buyer is a trust named after the address and managed by Cameron Casey, a wealth management attorney. Gary Pohrer with Serhant represented the buyer in the sale.
Ambrose K. Monell is the grandson of Ambrose Monell, an industrialist who served as Carnegie’s chief metallurgical engineer before becoming president of the International Nickel Company. The elder Monell died in 1921, leaving behind a significant fortune. Ambrose K. Monell currently serves on the board of his family’s foundation established in honor of his grandfather.
Property records indicate that the home last changed hands for $3.2 million in 1998. Built in 1950, it sits on 0.9 acres and includes five bedrooms, four bathrooms, one half-bathroom, a pool, and a dock.
In 2021, the Monells sold an adjacent lot at 625 Crest Road for $25 million.
This latest transaction comes amid strong activity at the upper end of Palm Beach’s real estate market. Agents report that buyers are seeking large estates that are ready to move into, with many top-tier sales occurring off-market.
Recent notable sales include private equity billionaire Greg Mondre selling a teardown for $36.3 million after purchasing it earlier this year for $31 million; Anthony Lomangino acquiring Villa Flora for $76.7 million; and Michael Chu selling his oceanfront residence for $58.3 million—each completed off-market.
