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Preheat oven to 325 degrees and set rack in lower middle position.
Pat beef dry and season with sea salt and pepper. In large Dutch oven or heavy soup pot, heat 1 tablespoon olive oil over medium-high heat. Add stew meat and brown on all sides. Then, transfer meat to large plate and set aside.
Add onions, garlic, and balsamic vinegar to pot. Cook 5 minutes, stirring with wooden spoon and scraping brown bits from bottom of pan. Add tomato paste and cook a minute more. Return beef with all its juices to pot and sprinkle with flour. Stir 1 to 2 minutes until flour dissolves. Add wine, beef broth, water, Bay leaf, thyme, and sugar. Stir to loosen any brown bits from bottom of pan and bring to boil. Cover pot with lid, transfer to preheated oven, and braise 2 hours.
Remove pot from oven and add carrots, potatoes, and collards. Cover and place back in oven for an hour more, or until vegetables are cooked, broth is thickened, and meat is tender. Fish out Bay leaf and discard, then taste and adjust seasoning, if necessary. Serve stew warm, or let it come to room temperature. Top with chopped fresh parsley.