Compass’ Richard Steinberg Sells Son’s UES Townhouse

Jon Steinberg, the former CEO of media company Cheddar, made himself some cheese last week with help from a familiar name.

The media executive and entrepreneur sold his Lenox Hill townhouse for $11.5 million in a deal closed last week. The sale, which amounted to just over $1,500 per square foot, was handled by his father, Compass’ Richard Steinberg.

The 7,600-square-foot home originally hit the market in Feb. 2023 asking $18.5 million, almost double the $9.7 million the younger Steinberg and his wife, Jill, paid for it in 2019.

“We knew we came on very strong previously,” said the elder Steinberg. He took the home off the market for over a year before relisting last September at a lower price with the goal of a “quick sale” to aid his son’s move back stateside from London.

Jon founded streaming company Cheddar, which sold to Altice USA for $200 million in cash in 2019. Before that, he served as the chief executive officer of the Daily Mail’s North American arm and the chief operating officer of BuzzFeed from 2012 to 2014.

He was tapped in 2023 to run Future plc, the British publishing giant that owns publications like Marie Claire and PC Gamer. In October, Jon announced his plans to step down to “relocate back to the U.S. with his family,” according to a release.

The senior Steinberg said his son was easy to work with and not particularly hands-on in the sale process. “He said, ‘Dad do what you have to do to get it sold,’” the broker said.

Built in 1881, the 18-foot-wide home has five bedrooms and five bathrooms across five stories. The property also features a roof deck with an outdoor kitchen.

The sellers executed a multimillion-dollar gut renovation, which Richard said has been an even greater boon for townhouses in today’s market.

“Triple mint townhouses sell quickly,” he said, referring to a term for properties considered to have pristine kitchens, bathrooms and overall condition. “Based on market conditions and construction costs and tariffs people are inclined to not move quickly on stuff that needs gut renovations.”

Compass’ Philip Scheinfeld and Alexa Horgan brought the buyer, who Scheinfeld said was “super happy” to find something for around $1,500 per square foot located west of Park Avenue.

Upper East Side townhouses between 17 and 19 feet wide had an average price per square foot of $1,737, according to Leslie Garfield’s townhouse market report.

Scheinfeld said he and Horgan had been working with the buyers for several years, looking across the city with a budget that started around $8 million.

“We found we got better value as the price point went up,” he said.

The property is occupied by tenants paying around $50,000 in monthly rent who will move out in June, Scheinfeld said.