The Duke-bound senior forward scored 25 points, had five rebounds and earned MVP honors as he led the Monarchs to an 85-80 victory over Liberty Tech (Tenn.) in the championship game of the City of Palms.
Parsons finished with a game-high 35 points and 8 boards and was a perfect 11-for-11 from the foul line while Calathes added 31 points and Joey Rodriguez (VCU) added 21. Monroe, the top-ranked player in the Class of 2008, finished with 22 points and 9 boards in the loss.
In other action at the City of Palms, it was sophomore scoring guard Kenny Boynton Jr. that stole the show with a tournament-record 45 points in Pompano Beach Ely's rout over Arlington Country Day.
Boynton was 15-of-30 from the field and 10-of-17 from long range.
Boynton wasn't the only sophomore guard putting up numbers. Lance Stephenson poured in 39 points to lead Lincoln (N.Y.) to a win over Arizona-bound guard Jerryd Bayless (22 points) and St. Mary's (Ariz.).
Tyreke Evans, who holds the No. 2 spot in the Class of 2008 behind Monroe, scored 37 points to lead American Christian (Pa.) to a 76-65 win against Monsignor Pace. Rayford Shipman finished with 14 in the loss for Pace.
A pair of Pennsylvania standouts both led their teams to wins with big games.
DeJuan Blair, a big man who has signed with Pittsburgh, scored 25 points and grabbed 16 boards to lead Schenley (Pa.) to a 10-point win against Fort Myers. Lance Kearse (VCU) had 20 for the host school.
Junior two-sport star Terrelle Pryor had 24 points and 18 rebounds to lead Jeanette High to a overtime victory over Golden Gate High, which was paced by Joey Woods' 25 points and 12 boards.
The following is the all-tournament team from the City of Palms:
Most Valuable Player: Taylor King, Santa Ana (Calif.) Mater Dei
Jerryd Bayless, St. Mary's (Ariz.)
Kenny Boynton, Pompano Beach Ely
Kamyron Brown, Mater Dei
Nick Calathes, Lake Howell
Tyreke Evans, American Christian (Pa.)
Lance Kearse, Fort Myers
Devon Lamb, Arlington Country Day
Greg Monroe, Helen Cox (La.)
Chandler Parsons, Lake Howell
Joey Rodriguez, Lake Howell
Josh Sain, Liberty Tech (Tenn.)
Lance Stephenson, Lincoln (N.Y.)