Ambrose K. Monell, a descendant of the industrialist Ambrose Monell, has sold his lakefront property in Palm Beach for $57 million. The transaction was completed off-market during what is considered the town’s busiest real estate season.
Property records indicate that Monell and his wife, Lili Monell, transferred ownership of the home at 635 Crest Road to a trust managed by Cameron Casey, a well-known wealth management attorney. Gary Pohrer with Serhant represented the buyer in this deal.
The elder Ambrose Monell made his mark as a nickel magnate and served as chief metallurgical engineer for Carnegie before becoming president of the International Nickel Company. He passed away in 1921, leaving an estate valued at $15 million at that time. Ambrose K. Monell currently serves on the board of a family foundation established in honor of his grandfather.
The house on Crest Road was last purchased for $3.2 million in 1998. Built in 1950, it sits on nearly one acre and offers 6,300 square feet of living space with five bedrooms, four bathrooms, one half-bathroom, a pool, and a dock.
In 2021, the Monells also sold an adjacent lot at 625 Crest Road for $25 million.
This sale reflects ongoing trends in Palm Beach’s luxury real estate market where high-value transactions often occur off-market and buyers are seeking large estates ready for immediate occupancy. Other recent notable sales include Greg Mondre selling a property 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—all through off-market deals.
