The club was founded in 1883 in Monkstown as the name suggests, but moved to the Sandymount area in 1901 after leasing grounds at Sydney Parade from the Earl of Pembroke.
Comhaltas Ceoltóirí Éireann, an organisation promoting Irish culture (particularly Irish traditional music), has its headquarters in Monkstown, as does BirdWatch Ireland.
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Monkstown was later purchased by the Archbishop of Armagh, Michael Boyle where his son Murrough Boyle, 1st Viscount Blesington enlarged the castle making it one of the finest residences.
He was educated near his home at Harold's Boys and the Presentation Brothers in Glasthule, he was also educated by the Christian Brothers in Monkstown.
Monkstown have hosted a number of international teams over the years, such as Australia, when they won the World Cup in 1991.