Media Mogul Jon Steinberg Drops $15M on Off-Market Palm Beach Spec Home

Media mogul Jon Steinberg, known for his founding of Cheddar News, has recently made a big purchase in Palm Beach. Records show that Steinberg and his wife, Jill Steinberg, have bought a spec home located at 234 List Road for $14.6 million in an off-market deal. The property was previously owned by Valley Property Management LLC, a Massachusetts entity managed by Phil Cambo, who is the president of Northern Tree Service based in Palmer, Massachusetts.

This purchase comes as Steinberg has taken on a new role as managing director of the Media, Entertainment, and Sports Group at Lazard, an asset management firm. According to their website, Steinberg is based in their West Palm Beach office. Prior to this position, Steinberg was the CEO of DailyMail.com and the North America CEO of BuzzFeed.

Steinberg's new Palm Beach home is a 9,000 square foot mansion with six bedrooms and eight bathrooms. The property features high-end finishes, a pool, spa, and a rooftop deck with ocean views. The purchase was made through a trust in the Steinberg's names.

While this purchase may seem like a simple real estate transaction, the involvement of Phil Cambo raises some questions. Cambo is the president of Northern Tree Service, a company that has faced scrutiny for its ties to organized crime. In 2011, the company was sued by the city of Springfield, Massachusetts for allegedly overcharging for tree removal services. Cambo has denied any wrongdoing and the case was eventually dismissed.

It's unclear if Steinberg was aware of Cambo's past when making the purchase, but it's worth noting